PGGM, the €128bn Dutch pension-fund manager, has completed its takeover of the €7.5bn fund for the country's doctors, expanding its asset-management services as a result, as consolidation in the Netherlands' €800bn pensions sector continues.

PGGM said today it was taking full 100% ownership of Doctors Pension Fund Services, the administrator and asset manager of the Stichting Pensioenfonds voor Huisartsen, or SPH, which caters to 16,000 general practitioners.