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Money Management

Allianz AUM slipped 2% in quarter, flat for 12 months

Assets under management at Allianz Group fell 2% in the quarter and flat for the year ended Dec. 31, to €1.96 trillion ($2.24 trillion), caused by a market downturn in December.

A financial update Friday said the group's revenues rose 7.2% for the quarter to €32.7 billion, but grew 3.3% over the year. Net income fell 8.8% for the quarter and increased 15% for the year to €1.75 billion.

Allianz's money management unit is comprised of Pacific Investment Management Co. and Allianz Global Investors. Third-party assets under management decreased 4% in the three months ended Dec. 31 and 0.7% for the year to €1.43 trillion.

Net outflows from the money management business totaled €3 billion for the quarter, compared with net inflows of €15 billion for the quarter ended Sept. 30. For the year-earlier quarter, net inflows were €45 billion.

PIMCO's assets under management fell 2.6% for the quarter and increased 0.5% for the year to €1.117 trillion. Net outflows were €7.7 billion for the fourth quarter, compared with €10 billion in net inflows for the previous quarter. For the fourth quarter of 2017, net inflows were €43 billion.

AllianzGI assets under management fell 8% for the quarter and 5% for the year to €319 billion as of Dec. 31. Net inflows were €4.2 billion for the fourth quarter 2018, compared with €5.4 billion in net inflows for the previous quarter; and €2 billion inflows for the year-earlier quarter.