Pimco $22B inflows ‘absolutely stunning,’ says Allianz CEO
Investment firm's first six weeks of 2024 almost matches the whole of 2023.
Pacific Investment Management Co. has had an “absolutely stunning” development this year, according to Oliver Baete, chief executive of parent company Allianz SE.
The US investment firm pulled in about €20 billion ($21.7 billion) in client money during the first six weeks of 2024, Allianz chief financial officer Claire-Marie Coste-Lepoutre added in the same interview on Friday.
That’s “close to” what Pimco pulled in during all of last year, she said. The firm attracted €24 billion in client money in 2023, according to an investor presentation.
The upbeat development comes on the heels of a fourth quarter in which Pimco clients withdrew €3 billion from the firm, putting an end to a streak of inflows during the three preceding quarters. The asset manager suffered €75 billion in outflows in 2022 following a global bond rout.
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