Mercer replaced Pacific Investment Management Co. and Western Asset Management Co. as subadvisers on a bond fund.
The fund, formerly known as the Mercer Core Opportunistic Fixed Income Fund, had about $1.1 billion in assets as of Sept. 30, according to a semiannual report filed with the Securities and Exchange Commission. The Mercer Core Fixed Income Fund will be managed by Income Research & Management and the investment unit of Prudential Financial Inc., according to a regulatory filing Thursday by Mercer.
The core fixed-income strategy is part of about 10 Mercer funds offered as collective trusts to institutional investors, according to Mercer's website and the semiannual report.
Bruce Lee, a spokesman for Mercer, declined to comment, as did Mary Athridge, a spokeswoman for Western Asset parent Legg Mason, and Mark Porterfield, a spokesman for PIMCO.
