Colorado County Officials & Employees Retirement Association, Littleton, is adding the Metropolitan West Total Return Bond Fund to the investment lineup of its 401(a) and 457 plans, said a transition guide on the retirement association's website.
The core fixed-income fund, managed by Metropolitan West Asset Management, will replace PIMCO's Total Return Fund, effective Feb. 2.
The departure of William H. Gross, Pacific Investment Management Co.'s co-founder and chief investment officer, was cited as the reason for the change.
It could not be learned by press time how much was invested in the PIMCO fund.
Investment consultant Innovest Portfolio Solutions assisted.
The 401(a) and 457 plans have about $1.2 billion in combined assets.
Jacob Kuijper, executive director, could not be reached for additional information by press time.