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MONEY MANAGEMENT

Markets and FX drive AUM increase for Allianz; PIMCO reports another quarter of inflows

Assets under management for Allianz's money management businesses increased 0.6% for the quarter and 6.1% for the year ended Dec. 31 to €1.871 trillion ($1.971 trillion), bolstered by growth in third-party assets.

Total third-party assets under management grew 2.6% for the quarter and 6.7% for the year to €1.361 trillion, parent company Allianz said in a financial update Friday.

Assets grew despite net outflows across money management in 2016 totaling €20.3 billion, compared with €107 billion of net outflows in 2015. However, market movements and dividends added €47 billion to assets, foreign-exchange effects added €26.6 billion for the year and other factors added a total €31.6 billion to AUM.

For the quarter ended Dec. 31, third-party net inflows totaled €1.7 billion, compared with €8 billion of net inflows for the year-over-year quarter. For the three-months ended Sept. 30, net inflows were €6.2 billion.

The money management unit comprises Pacific Investment Management Co. and Allianz Global Investors.

PIMCO recorded total assets under management of €1.036 trillion as of Dec. 31, up 3% from three months earlier and up 5% in the past 12 months.

Total PIMCO net outflows for the year were €17.5 billion, compared with net outflows of €125 billion in 2015. For the quarter ended Dec. 31, PIMCO recorded net inflows of €5.9 billion, up from net inflows of €4.7 billion for the quarter ended Sept. 30. In the fourth quarter 2015, net outflows totaled €11.4 billion.

Third-party assets under management at AllianzGI were €325 billion, up 1.2% from Sept. 30 and up 12.5% from Dec. 31, 2015.

Third-party net outflows for AllianzGI in 2016 were €2.8 billion, compared with net inflows of €17.5 billion in the year ended Dec. 31, 2015. For the quarter, net outflows were €4.2 billion, compared with net inflows of €1.5 billion for the quarter ended Sept. 30 and €3.4 billion of net inflows for the quarter ended Dec. 31, 2015.

Inflows to multiasset and alternatives were more than offset by outflows from equities strategies, said the update. Figures were not available.

Despite net outflows, the money management unit as a whole recorded its first year-over-year growth in third-party assets since 2012, driven by markets, foreign exchange and the acquisition of fixed-income specialist Rogge Global Partners by AllianzGI, which had £24.1 billion ($30.1 billion) in AUM when the acquisition was announced in February 2016.