] continues to rake in assets and profits for parent Allianz SE
, but that doesn't mean the insurer is counting on the streak to continue. Yesterday Allianz reported
third quarter earnings, and Bloomberg
's Vidya Bhaktavatsalam revealed
that, according to Allianz, Pimco's third quarter operating profit climbed 44 percent year-over-year to $593 million.
"I think we had more net inflows into Pimco than we had flows in the U.S. equity asset-management industry in all of this year," Allianz chief financial officer Oliver Baete
reportedly said yesterday on an earnings call, adding that he worries that bond fund flows are "probably not sustainable and we are seeing the buildup of a new bubble."
Pimco boasted more than $56 billion in inflows in Q3 and had about $1.2 trillion in assets.
Neil Anderson, Managing Editor
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