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 |
|
Tuesday, November 26, 2002 Pimco Parent May Spin Asset Unit Off Pimco Funds and Nicholas-Applegate may not remain part of Allianz AG past 2004, according to news report. The German insurer is reportedly mulling over a spin-off of its asset management unit, Allianz Dresdner Asset Management. The spin-off could take the form of an initial public offering as a tracking stock or a private-equity sale, reports Money Management Letter. Any deal would likely take place by early 2004, the newsletter reports investment bankers as saying. The unit manages some $360 billion in assets. It consists of PIMCO, Nicholas-Applegate Capital Management, Oppenheimer Capital, Dresdner RCM Global Investors, NFJ Investment Group, and Cadence Capital Management. The report says the firm is considering the sale as part of a reassessment of its decision to build the asset management business. Printed from: MFWire.com/story.asp?s=4063 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |