Ohio Police & Fire Pension Fund, Columbus, hired Pacific Investment Management Co. to run $553 million in active domestic non-core fixed income, confirmed spokesman David Graham.
The hire is the result of the $13.1 billion pension fund attempting to maximize returns in the current fixed-income environment, according to Mr. Graham.
Funding comes from the termination of active domestic core fixed-income manager Western Asset Management Co., both because of the pension fund's move away from core strategies, as well as for personnel changes.
Mr. Graham could not provide further information regarding PIMCO's new portfolio by press time.
