Aurora (Colo.) General Employees’ Retirement Plan named three finalists in its search for a core-plus fixed-income manager to replace PIMCO, said Tom Connell, pension plan administrator.
The finalists — DoubleLine Capital, Voya Investment Management and Western Asset Management Co. — will make presentations to the board Dec. 8.
Underperformance and personnel changes were cited as the reason for Pacific Investment Management Co.’s termination. A PIMCO spokeswoman could not immediately be reached for comment.
The roughly $400 million pension fund had $50 million invested in PIMCO’s Total Return Fund, which is the amount the selected manager will run.
A hiring decision is expected Dec. 8.