Sarasota (Fla.) Police Officers' Pension Fund terminated Pacific Investment Management Co. from its $20 million active domestic core fixed-income portfolio, said Thomas D. Kelley, the city's pension plans administrator, in an e-mail.
Mr. Kelley did not give a reason for the termination, but the $181 million pension fund is the latest in a bevy of pension funds that have terminated PIMCO since the Sept. 26 resignation of William H. Gross, the money manager's co-founder and chief investment officer.
The pension fund had previously cut PIMCO's portfolio in half in August when it hired Garcia Hamilton & Associates to run a similar portfolio.
Mr. Kelley said the pension fund has yet to find a replacement.
Investment consultant Burgess Chambers & Associates assisted.