Seattle City Employees' Retirement System removed Pacific Investment Management Co. from its watchlist, said Anthony Smith, deputy chief investment officer, in an e-mail.
The $2.3 billion pension fund's board of administration voted at its July 14 meeting to remove PIMCO from the list because the firm has “stabilized as an organization” since the departure of William H. Gross, PIMCO's co-founder and chief investment officer, in September 2014, recently released board minutes stated. The pension fund put PIMCO on watch in November 2014 because of Mr. Gross' departure.
PIMCO runs $120 million in active domestic core fixed income and $112 million in active international equities for the pension fund.
Investment consultant NEPC assisted.
