El Paso (Texas) Firemen & Policemen’s Pension Fund invested $50 million in the PIMCO Total Return Fund II, a commingled fund, and hired Pacific Income Advisors to run $25 million in active domestic high-grade core fixed income, said Robert Stanton, pension administrator. Funding for PIMCO came from terminating Loomis Sayles because of performance; it ran the money in active domestic core-plus fixed income. The funding source for the Pacific Income Advisors portfolio has not been determined; officials for the $426 million pension plan will decide after results of an asset-liability study are presented at a May 8 meeting, he said. The plan’s asset allocation is 65% equity and 35% fixed income. Summit Strategies advised.
Christopher Lazzaro, vice president for public relations at Loomis Sayles, declined comment on the termination.
