Texas Municipal Retirement System, Austin, put Pacific Investment Management Co., on watch because of the departure of William H. Gross, PIMCO's co-founder and chief investment officer, said spokesman Bill Wallace, in an e-mail.
PIMCO manages $2 billion in core-plus fixed income for the $23.4 billion pension fund.
Mr. Gross was not directly involved in the management of the pension fund's portfolio, but “any departure of key personnel in a manager may be reflected in the watch status,” Mr. Wallace wrote.
He said pension fund officials would not comment on concerns or plans for the portfolio at this time.