MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, November 11, 2010 Pimco Booms, Allianz Sees 'A New Bubble' Pimco [see profile] 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. Printed from: MFWire.com/story.asp?s=33996 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |