Pinellas Park (Fla.) General Employees' Pension Fund terminated Pacific Investment Management Co. from an $11 million portfolio, said Minh Huynh, city human resources specialist, in an e-mail.
The $69 million pension fund was invested in the PIMCO Total Return mutual fund and liquidated its investment due to the departure of William H. Gross, PIMCO's co-founder and chief investment officer, on Sept. 26.
The assets were moved to an existing active domestic core fixed-income separate account managed by Sawgrass Asset Management, giving it a total of $16 million.
Investment consultant The Bogdahn Group assisted.
