Pimco Ends Three-Year Bleeding as Allianz Sees Turnaround
- Clients added a net 4.7 billion euros in third quarter
- Pimco hasn’t had third-party net inflows since 2Q 2013
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Pacific Investment Management Co. has finally stopped the bleeding.
Third-party clients added a net 4.7 billion euros ($5.1 billion) in new money to Newport Beach, California-based Pimco last quarter, according to a statement Friday by its parent Allianz SE. The inflows cap three years of net redemptions that have cut assets at the money manager by about a quarter, to $1.55 trillion at the end of September.