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Arkansas Teachers Terminates $475 Million Pimco Portfolio

TedTed
in The Bullpen
FYI: The Arkansas Teacher Retirement System terminated Pacific Investment Management Co, which managed about $475 million for its pension fund, following the departure of Bill Gross in late September, George Hopkins, executive director, said on Monday.

"Under any circumstance, we were going to trim our fixed-income exposure and de-risk our fixed-income portfolios," Hopkins told Reuters. "Mr. Gross leaves and so it was an easy opening for us to do the same. Pimco found themselves in the wrong place at the wrong time
Regards,
Ted
http://www.reuters.com/assets/print?aid=USKCN0I21Y620141013
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