By Josh Beckerman
Pacific Investment Management Co. said its assets under
management were $1.97 trillion at the end of the second quarter, up
from $1.94 trillion at March 31, attributing the increase to market
performance and alpha generation.
The firm said third-party client assets accounted for $1.55
trillion of the $1.97 trillion total at June 30.
Pimco said 81% of its assets under management have outperformed
their benchmarks on a trailing 12-month basis, and 86% have
outperformed their benchmarks on a trailing 3-year basis before
fees.
The Wall Street Journal reported last month that the $229
billion Pimco Total Return Fund, the world's largest bond fund, was
outpacing two-thirds of rival funds in the second quarter,
according to Morningstar Inc. data, a big improvement from the
first quarter.
Investors have kept a close eye on Pimco since Mohamed El-Erian
left his positions as chief executive and co-chief investment
officer of the Newport Beach, Calif., firm earlier this year. The
Wall Street Journal reported in February that Mr. El-Erian had
clashed with co-founder Bill Gross.
In May, Pimco rehired former senior executive Paul McCulley for
the newly created post of chief economist.
Pimco is part of Germany's Allianz SE.
Write to Josh Beckerman at josh.beckerman@wsj.com
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