Mark T. Hudoff, manager of the recently launched PIMCO Income Fund, will now also be the manager of PIMCO's High Yield fund, Morningstar
reports. His appointment follows the departure of Ray Kennedy who stepped down as the fund's sole manager and will soon retire to pursue other opportunities. This is the second time in two weeks that the high-yield bond category has lost a high-profile manager, the other being Margie Patel from Pioneer Investments. Hudoff is expected to continue the fund's conservative tack.
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