FRANKFURT, July 5 (Reuters) - Recent volatility in financial markets is taking the shine off Allianz’s asset management business, which includes U.S. bond giant Pimco, a board member told Reuters.
“The flow position will be far more muted this year,” Jacqueline Hunt, the Allianz board member who oversees the German insurer’s asset management businesses, said.
In 2017, Allianz reeled in 150 billion euros ($175.25 billion) in net inflows, a record for a single year.
“We won’t see that repeat this year,” she said. (Reporting by Alexander Huebner and Tom Sims Writing by Maria Sheahan)