BMO Harris Bank NA, Chicago, is adding the MetWest Total Return Fund to its 401(k) plan, a notice on the plan's website said.
The Metropolitan West Asset Management fund replaces the PIMCO Total Return Fund; participants will be mapped to the new fund on Dec. 19. A reason for the change was not given, but William H. Gross, co-founder and chief investment officer of Pacific Investment Management Co. and portfolio manager of the fund, resigned Sept. 26.
As of Dec. 31, the Employees' 401(k) Savings Plan of Bank of Montreal/Harris had $1.2 billion in assets, according to the company's most recent Form 5500 filing. According to the same filing, the PIMCO Total Return Fund had $68 million in plan assets as of that date.
Mary Wessel, vice president and plan administrator, did not return a phone call by press time.