Broomfield, Colo., put PIMCO's Total Return Fund on watch for its two 401(a) money purchase plans, said Suzanne Smith, director of human resources for Broomfield.
The plans have about $85 million in assets combined and a total of $3.1 million invested in the PIMCO Total Return Fund.
The strategy was put on watch because of the departure of William H. Gross, Pacific Investment Management Co.'s co-founder and chief investment officer.
Along with the Total Return Fund, the $48 million general employees' plan offers PIMCO's Foreign Bond Fund USD Hedged and Commodity Real Return Strategy Fund, while the $36.7 million peace officers' plan offers PIMCO's Foreign Bond Fund Unhedged Fund, Commodity Real Return Strategy Fund and target-date fund series, Ms. Smith said. These strategies have not been placed on watch because Mr. Gross was not the named manager.
