As an update to our announcement earlier this Fall, we have now completed our search of bond fund managers to replace PIMCO Total Return Bond Fund. After interviews with four different strategies, our investment committee has decided on BlackRock Total Return Fund (MPHQX) as the replacement in all of our Trust Company managed portfolios. The allocation amount will remain the same in our bond portfolios at 20%
PIMCO has been through two significant management changes in a relatively short time period. Despite their long-term track record of outperformance, the lack of recent management stability has given us concern.
BlackRock combines top-down sector allocation with bottom-up security selection to identify broad areas of investment potential and undervalued individual asset opportunities.
This change also provides reduced fund-level fees with an added upside potential that we are able to pass along to you.
Your relationship manager will gladly discuss any questions you may have about this change at any time.
We appreciate your business,
The Trust Company