Bond giant Pacific Investment Management Co. saw outside clients pull money for a second straight quarter amid a global bond selloff.
Investors withdrew 28.7 billion euros ($29.4 billion) from Pimco in the three months through June, parent Allianz SE said on Friday, adding to the first outflows since the onset of the pandemic earlier this year. Allianz group operating profit rose in the second quarter, driven by the German company’s property-casualty insurance business.
