Texas Emergency Services Retirement System, Austin, hired Pacific Investment Management Co. to manage $11 million in its PIMCO Diversified Income Fund, a global fixed-income fund, confirmed Kevin Deiters, executive director of the $116 million pension fund.
Funding will come from a 10% allocation shift to non-core fixed income from domestic equities. The shift was part of a new target allocation that was adopted in March.
The plan had an allocation of 46.4% to domestic equities and 23.3% to fixed income as of June 30.
