Illinois State Universities Retirement System's investment committee delayed recommending the retention of PIMCO, which manages $2.3 billion for the plan, to evaluate the impact of market-timing allegations against the company, said James M. Hacking, executive director. The $11.4 billion system's committee will consider a staff recommendation on PIMCO at its March 18 meeting. PIMCO runs $1.6 billion in core-plus fixed income, $565 million in an enhanced S&P 500 equity index fund and $113 million in Treasury inflation-protected securities. Mr. Hacking said PIMCO's performance has been good.
Separately, Indiana State Teachers' Retirement Fund, Indianapolis, is evaluating PIMCO because of market-timing allegations, said Robert D. Newland, CIO. PIMCO runs $350 million in an enhanced S&P 500 index fund for the $3 billion plan. Mr. Newland didn't have a timeframe when the evaluation would be completed. Callan is assisting.
Mark Porterfield, PIMCO spokesman, didn't return a call requesting comment.