Updated with correction
Assets under management at Allianz Group increased 7.1% in the quarter and 7.4% for the year ended March 31 to €2.1 trillion ($2.3 trillion), reflecting rising markets and favorable foreign exchange in the 90-day period.
A financial update May 14 said Allianz's Group's revenues rose 9.1% to €40.3 billion compared to the first quarter of 2018 and rose 23% compared to the fourth quarter of 2018. Net income increased 1.6% compared to the year-earlier quarter and increased 17.6% compared to the fourth quarter of 2018.
Allianz has two money management units, Pacific Investment Management Co. and Allianz Global Investors. Third-party assets at both firms increased 8% in the three months ended March 31 and 8% for the year to €1.55 trillion.
PIMCO's assets under management increased 8.2% for the quarter and 10% for the year to €1.21 trillion. Third-party net inflows were €21 billion for the first quarter, compared with €29 billion in net outflows for the previous quarter. For the first quarter of 2018, net inflows were €19 billion.
AllianzGI third-party assets under management rose 6.5% for the quarter and 3% for the year to €340 billion as of March 31. Net outflows were €3 billion for the first quarter 2019, compared with €1.5 billion in net outflows for the previous quarter and €2 billion in inflows for the year-earlier quarter.