The Pep Boys-Manny Moe and Jack, Philadelphia, is adding the Metropolitan West Total Return Bond Fund as an investment option in its 401(k) plan, said Jim Flanagan, senior vice president and chief human resources officer, in an e-mail.
The Metropolitan West Asset Management fund will be added Dec. 15, replacing the PIMCO Total Return Fund, from which participants will be automatically mapped to the new fund.
Mr. Flanagan said the departure Sept. 26 of William H. Gross, PIMCO co-founder and chief investment officer, was one reason for the change.
The plan offers 15 investment options and a Fidelity Investments target-date fund lineup.
As of Dec. 31, The Pep Boys Savings Plan had $168 million in assets, according to the company's most recent Form 5500 filing.
