Kansas Board of Regents, Topeka, approved the addition of the PIMCO International Bond Fund to the investment lineup for its $176 million 403(b) voluntary retirement plan.
The board approved the addition of the active international fixed-income fund managed by Pacific Investment Management Co. at its April 17 meeting, a webcast of the meeting shows.
The addition of an international bond fund was recommended by record keeper TIAA-CREF. Investment consultant Advanced Capital Group created a shortlist of potential managers that TIAA could provide in the lineup — TIAA subsidiary Nuveen, PIMCO and T. Rowe Price — and recommended the PIMCO fund, according to board meeting materials. There were no finalist presentations.
