Allianz SE, parent company of PIMCO and Allianz Global Investors, reported total assets under management of €1.8 trillion ($2.3 trillion) in the quarter ended Sept. 30, largely due to new inflows and market appreciation, the company said Friday in its quarterly financial update.
AUM increased by 4.5% in the past quarter and 10.3% in the nine months ended Sept. 30.At Pacific Investment Management Co., AUM reached €1.5 trillion, including €32.2 billion in net inflows, for the three months ended Sept. 30, up 4.7% from the previous quarter. Operating profit totaled €748 million, with a cost-income ratio of 49.2%.
AllianzGI reported €302 billion in AUM for the latest quarter, a 3.9% jump from three months earlier, with about €600 million in net inflows from external clients. Operating profit was about €77 million, with a cost-income ratio of 76.6%.
Beginning this year, financial data for PIMCO and AllianzGI were reported separately.
Since Jan. 1, net inflows for Allianz SE totaled €73 billion, with net fixed-income inflows of €76 billion and net equity outflows of €3 billion. Market movements raised AUM another €140 billion, while currency effects added €13 billion.
Offsetting the asset increases was a reclassification of €56 billion from “assets under management” to “assets under administration,” according to the financial report.