Pimco, the US bond fund manager of Allianz, has reported €4.7bn of net inflows from third parties for the third quarter of 2016, which are the first positive net flows since the second quarter of 2013.
For the quarter ended 30 September, Pimco and Allianz Global Investors that constitute Allianz’s asset management unit reported operating profit of €604m, up marginally compared to the prior year.
Go deeper with GlobalData
The cost-income ratio (CIR) at the unit increased by 2.5 percentage points to 60.8% from the year ago, driven by a fall in personnel expenses and restructuring expenses, with both PIMCO and Allianz Global Investors contributing to the improvement.
The division’s third-party AuM increased by €20bn to €1.32bn compared to the previous quarter, due to positive market effects and third-party net inflows.
Allianz CFO Dieter Wemmer said: “The 4.7 billion euros in positive net flows at PIMCO confirm the attractiveness of PIMCO products.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
