Allianz Global Investors reported €971 billion ($1.28 trillion) in assets under management as of Dec. 31, up 3% from the year before, the firm announced at a news conference. Operating profits rose 14% to €1.28 billion from a year ago. AGI - the asset management arm of Allianz SE - includes PIMCO, NFJ Investment Group, RCM Capital Management, Nicholas-Applegate and Oppenheimer Capital. In the U.S., third-party assets under management totaled €435 billion as of Dec. 31, down from €443 billion at the year-end 2005.
CEO Joachim Faber said the firm plans to attract new asset inflows by leveraging its good performance record - 91% of third-party fixed income and 70% of third-party equity assets outperformed its benchmark over a three-year period. Expansion in key markets such as Germany and the rest of Europe, the U.S. and Asia is another key to growth.
Separately, MassMutual Financial Group reported a record $456 billion in AUM as of Dec. 31, up 15% from a year earlier, said spokesman Mark Cybulski. The assets include those run by subsidiaries OppenheimerFunds, Babson Capital Management and Baring Asset Management. MassMutual does not break out assets under management by subsidiary.