Ford drops Pimco from 401(k) plan, citing Bill Gross's departure as main reason
Ford Motor Co said on Tuesday it is poised to drop the Pimco Total Return Fund from its 401k plan, citing the sudden departure of Bill Gross as the reason behind its decision.
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"Ford Motor Co. constantly monitors and assesses the performance of its investment lineup. Effective November 14, 2014, the Pimco Total Return Fund is being removed from Ford's investment lineup,'' Ford said in a statement to Reuters.