Sonoma County Employees' Retirement Association, Santa Rosa, Calif., removed Pacific Investment Management Co. from its watchlist, said Steven Marsh, investment analyst.
The $2.4 billion pension fund originally placed the manager on its list last fall for its $87 million active domestic core-plus fixed-income portfolio following the resignation of William H. Gross, PIMCO's co-founder and chief investment officer, on Sept. 26 to join Janus Capital Group.
At the time, the pension fund also terminated PIMCO from its $65 million unconstrained fixed-income portfolio, later hiring Neuberger Berman in March to replace the manager.
Mr. Marsh said the pension fund completed its standard six-month review process and found “things had stabilized” enough for removing PIMCO from its watchlist.
Investment consultant Aon Hewitt Investment Consulting assisted.
