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The TCW Group, Inc.
Pimco is replaced by TCW as manager of a bond fund
Pimco is replaced by TCW as manager of a bond fund

Bond giant Pimco was dropped as the manager of a $1.3-billion bond fund and replaced by its Southern California rival, TCW Group Inc. The fund, which is offered by Columbia Management, was formerly called the Pimco Mortgage-Backed Securities fund. It will now be known as the TCW Core Plus Bond Fund, according to a statement from TCW. The size of the fund is small compared with the $1.9 trillion that Pacific Investment Management Co. managed at the end of the year. However, losing that business comes at an inopportune moment for the Newport Beach company. PHOTOS: World's most expensive cities Pimco has been thrust into an uncomfortable spotlight with the surprise resignation of...

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