Allianz Global Investors, the asset management arm of Allianz Group has reported first quarter 2005 business results.
Highlights of the report included: strong net inflows into third party funds in Q1/2005 of €17 billion (Q1/2004: €7.5 billion); operating results in Q1/2005 grew to €230 million from €180 million in Q1/2004; and at 31 March 2005, Allianz Group assets under management grew to €1.133 trillion with Allianz Global Investors managing €808 billion (71%).
Commenting on these figures Joachim Faber, CEO of Allianz Global Investors said, “These figures confirm the strong revenue growth in terms of asset volume and earnings reported in 2004, when net inflows for the year amounted to €29 billion and operating earnings reached €851 million. They also demonstrate that Allianz Global Investors has a sound business model in place with a focussed strategy in clearly defined core markets.” He highlighted a number of success stories in different regions where Allianz Global Investors was able to respond to customer needs through innovative solutions and focused execution.