Illinois State Universities Retirement System, Champaign, will take $25 million for each of the next four quarters from a $1.8 billion core-plus bond portfolio run by PIMCO; the reductions will be made to help finance the system’s negative cash flow, said John R. Krimmel, CIO of the $9 billion pension fund.
Mr. Krimmel said that portfolio was chosen because PIMCO is the fund’s biggest fixed-income manager. The system also plans to liquidate other assets, possibly from index funds. It will make decisions over the course of the year.
