Allianz Global Investors' third-party assets under management grew 27% in 2010 to €1.15 trillion ($1.57 trillion), spokesman Hanno Strube confirmed.
Third-party assets are those run for clients other than AGI's insurance company parent, Allianz SE, according to the company's preliminary 2010 earnings announcement on Monday.
Net inflows of third-party assets rose to a record €111 billion, well above the previous high mark of €84 billion a year earlier. Third-party fixed-income net inflows were €112 billion, while equity net outflows were €1 billion.
Inflows were driven in part by sustained outperformance, with 87% of strategies topping their benchmarks for the three-year period ended Dec. 31, according to AGI.
Net income jumped 80% to €918 million.
“Allianz Global Investors has come a very long way in the past 10 years, accounting now for 22% of Allianz SE operating profit,” Joachim Faber, CEO of Allianz Global Investors, said in a news release. “During this time, we have established a strong track record with clients and attracted cumulative net inflows of nearly €500 billion.”
The company's annual report will be released March 18.