Updated with correction
Spokane (Wash.) Employees’ Retirement System invested $7 million in PIMCO Dynamic Bond Fund, an unconstrained fixed-income fund managed by Pacific Investment Management Co.
The $348 million pension fund’s board approved the investment at its meeting on March 3, said Phillip Tencick, retirement director, in an email.
As of Dec. 31, the pension fund’s actual allocation to opportunistic credit was 6.1%.
Investment consultant Hyas Group assisted.