Assets under management for Allianz Group's money management businesses were €1.86 trillion ($2.09 trillion) as of Sept. 30, up 1.6% from three months earlier and up 6.3% year-over-year, driven in part by net inflows at PIMCO for the first time in more than three years, said a financial update released Friday.
Third-party assets under management rose 2.3% and 5.56%, respectively, in the quarter and year ended Sept. 30 to €1.33 trillion.
Third-party net inflows in the quarter for Pacific Investment Management Co. and Allianz Global Investors totaled €6.2 billion. PIMCO recorded net inflows of €4.7 billion in the third quarter, the first quarter of net inflows since the second quarter of 2013. AllianzGI added €1.5 billion in net inflows.
In the previous quarter, PIMCO recorded net outflows of €18 billion, and AllianzGI experienced net outflows of €1 billion. For the quarter ended Sept. 30, 2015, PIMCO recorded net outflows of €16 billion and AllianzGI, net inflows of €1.3 billion.
PIMCO's third-party assets totaled €1 trillion as of Sept. 30, up 1.11% from June 30 as market gains and net inflows compensated losses from foreign-exchange transactions. Its AUM is up 2.13% year-over-year.
AllianzGI's third-party assets reached €321 billion as of Sept. 30, up 3.22% from the end of the previous quarter, as market gains and net inflows outpaced the losses from foreign-exchange transactions.
Overall, Allianz Asset Management reported €604 million in operating profit in the third quarter, up 21.29% from the previous quarter and up 0.67% from the year earlier quarter.