Harbor Capital Advisors hired Income Research & Management as subadviser of the $1.6 billion Harbor Bond Fund.
IR&M will replace Pacific Investment Management Co. effective Feb. 2, a spokesman for Harbor Capital confirmed.
Also effective that date, the fund will be renamed the Harbor Core Plus Fund.
The spokesman said a reduction in fees was a key consideration in the decision to make a change after PIMCO had been the fund's subadviser for more than 30 years.
"Additionally, we are thrilled to be able to offer investors access to the capabilities of Income Research & Management and to expand our partnership with what we think is a very compelling firm and investment team," the spokesman said.
As of Sept. 30, Harbor Capital had about $63 billion in assets under management.