Pimco's Momentum Helps Parent Allianz Beat Profit Estimates
- AUM at Allianz’s asset management unit reaches record level
- Allianz stays on target to meet its profit goals for the year
This article is for subscribers only.
Even after outflows hit Pimco in the last quarter, Allianz SE’s giant bond fund unit is on a roll.
In an industry plagued by ever-shrinking margins, Pacific Investment Management Co. and its smaller sibling Allianz Global Investors managed to improve profitability in the second quarter, helping their Munich-based owner post a profit that beat estimates.