6 May 2015

Allianz increases assets under management

Allianz's third-party assets under management increased to €1,408bn ($1,588bn) at the end of the first quarter, compared with €1,313bn at the end of 2014.

The insurer said this followed "both positive market effects and favourable currency effects."

The figures were released in a preliminary statement on performance in the first quarter (full details are due on 12 May), which revealed operating profit 4.8% up at €2.86bn against €2.72bn a year earlier and net income attributable to shareholders up 11% to €1.82bn (€1.64bn).

In the month following the period of these results, the Allianz-owned fund manager Pimco reported withdrawals from its total return fund of $5.6bn, leaving it with $110.4bn of assets at the end of April, compared with $292.9bn two years earlier (IAR, 5 May 2015, Money continues to flow out of Pimco fund).

Channels: 
SAA/ALM
Companies: 
AllianzPimco
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