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Money Management

PIMCO to close active target-date fund series

Pacific Investment Management Co. will liquidate its actively managed RealPath target-date series in February, according to a company filing with the Securities and Exchange Commission.

"PIMCO regularly evaluates all of our funds to ensure they meet the evolving needs of our clients," Agnes Crane, a spokeswoman, wrote in an email. "After a rigorous evaluation, we have decided to liquidate the suite of RealPath funds."

The decision to liquidate the actively managed series, which was introduced in 2008, does not affect the RealPath Blend series, which was launched in 2015.

The blend series is 60% equity/40% fixed income. The equity portion is passively managed by Vanguard Group; the fixed income portion is actively managed PIMCO.

According to the SEC filing, the nine funds in the Pimco RealPath actively managed series will be liquidated on or about Feb. 22. "Effective Feb. 1, 2019, the funds will no longer sell shares to new investors or existing shareholders, except through reinvested dividends," said the Nov. 9 filing.