West Palm Beach (Fla.) Firefighters' Pension Fund invested about $18 million with the Dodge & Cox Income Fund, recently released board meeting minutes said.
The $177 million pension fund removed the PIMCO Total Return Fund because of the departure of William H. Gross, co-founder and chief investment officer of PIMCO, on Sept. 26.
Both the Dodge & Cox and Pacific Investment Management Co. funds are mutual funds.
The pension fund remains invested in PIMCO Distressed Credit Opportunities II, a distressed debt fund, in which the pension fund had $9 million invested as of June 30.
Investment consultant The Bogdahn Group assisted.
Audrey Ross, plan administrator, did not return phone calls by press time.