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Money Management

Allianz sees money management units’ AUM rise 0.5% for quarter, 6.5% for year

Allianz SE's third-party assets under management for its money management units hit €1.4 trillion ($1.7 trillion) as of Sept. 30, bolstered by net inflows across Allianz Global Investors and PIMCO.

For the quarter, third-party AUM grew 0.5%, and jumped 6.5% for the 12 months ended Sept. 30.

Total assets under management across the group grew 0.4% for the quarter and 3.4% for the 12 months ended Sept. 30, to €1.9 trillion.

Third-party net inflows were €31.6 billion for the three months ended Sept. 30, compared with net inflows of €55 billion for the previous quarter and €6 billion in inflows for the three months ended Sept. 30, 2016.

Assets under management at Pacific Investment Management Co. grew 1% over the quarter and 7.4% over the year to €1.1 trillion. Net inflows for the quarter totaled €28.9 billion, compared with net inflows of €51.6 billion for the quarter ended June 30, and €4.7 billion in inflows for the quarter ended Sept. 30, 2016.

An analyst presentation of the results said net inflows at PIMCO were driven by income, enhanced cash, investment-grade credit and capital securities strategies.

AllianzGI's AUM fell 4.5% over the quarter, but grew 0.3% over the 12 months ended Sept. 30, to €322 billion. However, the firm saw net inflows of €2.7 billion for the quarter. This followed net inflows of €3.2 billion for the quarter ended June 30, and €1.5 billion in net inflows for the third quarter 2016.

Market and dividend effects added €15.1 billion in the quarter, while foreign exchange resulted in a loss of €33.7 billion. The presentation said AllianzGI saw net inflows in multiasset, fixed-income and alternatives strategies, which more than compensated for moderate net outflows in equities.