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PIMCO ‘Engine Again’

Newport Beach’s Pacific Investment Management Co. reported second-quarter operating profit climbed 17% to 450 million euros.

PIMCO “has become a performance engine again,” said Deiter Wemmer, chief financial officer at PIMCO parent Allianz, which reported its results on Aug. 4.

PIMCO reported net inflow of 51.6 billion euros, a 3.7% increase, the fourth consecutive quarterly increase in assets under management. Allianz, which is based in Germany, reports in Euros.

On its website, PIMCO said as of June it managed $1.6 trillion, up from as low as $1.4 trillion last year when it cut its workforce. PIMCO had managed as much as $2 trillion in 2014 before a series of management changes and unfavorable results.

PIMCO’s two biggest funds, Income and Total Return, have beaten their benchmark indexes in trailing periods of three months, one year, three years and five years, Allianz said.

Allianz reported second-quarter operating profit of 2.9 billion euros.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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