Big Apple Keeps Faith With Bill Gross

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NYC’s $160 billion pension fund has no need of a Gross-less PIMCO.

"The New York City Pension Funds recently transitioned out of $4.9 billion in Pimco accounts due to concerns over recent organizational changes," Eric Sumberg, a spokesman for New York City Comptroller Scott Stringer, said in a statement.

New York City pension funds moved $4.9 billion out of Pimco in 2014 [Reuters]