Chattanooga (Tenn.) Fire and Police Pension Fund invested $13 million in the MetWest Total Return mutual fund managed by Metropolitan West Asset Management, said Frank Hamilton, fund administrator.
The $230 million pension fund had the assets temporarily parked in a domestic core fixed-income index mutual fund managed by Vanguard Group.
The pension fund had terminated Pacific Investment Management Co. in November after the resignation of William H. Gross, PIMCO co-founder and chief investment officer. The pension fund was invested in PIMCO’s Total Return mutual fund.
Investment consultant Gerber/Taylor Management Co. assisted.