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.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
