Dallas Area Rapid Transit hired PIMCO to manage $15 million in active domestic fixed income, said Nathan Hallett, treasurer. The $115 million pension plan will trim its other domestic bond portfolio, run by Deutsche Asset Management, to $15 million to fund the new hire, Mr. Hallett said. DeAM had run the money temporarily; another bond manager was terminated about nine months ago. Mr. Hallett would not name the previous manager or provide details.
Ennis Knupp assisted.