Economy

Ford drops Pimco from 401(k) plan, cites Gross departure

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The 2014 Ford F-150.
Ford Motor Company

Ford Motor Co said on Tuesday the company will drop the Pimco Total Return Fund from its 401k plan as a result of the sudden departure of Bill Gross.

Ford said in a statement to Reuters: "Ford Motor Co. constantly monitors and assesses the performance of its investment lineup. Effective Nov. 14, 2014, the Pimco Total Return Fund is being removed from Ford's investment lineup.''

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