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Winter Springs trustees approve moving Vanguard short-term holdings and $1M cash into PIMCO diversified income fund
Summary
Trustees voted Aug. 19 to sell the board’s Vanguard short-term bond holding and invest the proceeds, plus $1 million from the receipts/disbursement money market, into the PIMCO Diversified Income Fund (PDIIX). The board also approved a related rebalancing that trims domestic equities by about 2% (~$1.6M).
At a regular meeting on Aug. 19, 2025, the Winter Springs Board of Trustees voted to liquidate the board’s Vanguard short-term bond position and transfer the proceeds into the PIMCO Diversified Income Fund (PDIIX), and to sweep an additional $1,000,000 from the receipts/disbursement money-market account into PDIIX.
David West, the board’s investment consultant, told trustees the recommendation follows a recent yield-curve shift that removed the attractive short-term money-market yields the board had been capturing. “My recommendation tonight is we close out that short term, cash short term bond trade,” West said, explaining the trade would free roughly $3.1 million held in the Vanguard short-term bond fund and…
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