Pimco, the world's largest fixed-income fund manager by assets, has reduced its euro-denominated exposure because of the Cyprus crisis, Handelsblatt reports Thursday.

"We have reduced our financial exposure in euro in recent days," said Saumil Parikh, managing director of the Allianz SE (ALV.XE) unit, according to the newspaper.

Newspaper website: http://www.handelsblatt.com

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