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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 |
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Monday, December 10, 2012 Is There A Rift Between Allianz and Pimco? Don’t call the divorce attorneys in the marriage between Pimco and Allianz, at least not yet. Allianz [profile] executives denied that there is a rift between the German investment firm and its glamorous, head-strong and independent mate, Pimco. Allianz makes this declaration in the Financial Times, despite the fact that Pimco has made a number of moves this year going its own way. For example, the newspaper notes that PImco recently requested that its fund flow statistics be handled separately from that of Allianz by data provider Lipper. The newspaper quotes Joe McDevitt, managing director of Pimco, as saying: “We approached Lipper about separating out our flows. AGI dragged down our numbers a bit last year.” Meanwhile, AGI in th article said that the move does not demonstrate a rift between the two firms. John Wallace, global head of communications at AGI, said: “The transparency of the new structure is positive.” Mr Wallace declined to comment on AGI’s loss of assets during 2011 but said “the set-up was very different then” and that “AGI is now a new company”. Pimco has also had its own distribution operation separate from Allianz for two years now. Printed from: MFWire.com/story.asp?s=42308 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |