] and Pimco
] are cutting a $6 billion tie.
Emily Blewett of Citywire reports
that the German multinational is pulling a number of fixed income sub-advisory mandates in Europe away from its Californian subsidiary. The funds in question hold about 4.6 billion euros (roughly $6.2 billion) in combined assets.
A spokesman for Frankfurt-based Allianz Global Investors told Citywire
that the move is "the last step in the implementation of [Allianz's] two-pillar strategy" to make AGI and Pimco distinct asset managers.
Neil Anderson, Managing Editor
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