On Thursday, Pimco said it oversaw $1.61 trillion as of June 30, up from $1.51 trillion in the previous quarter and $1.47 trillion at the end of last year. The company, which is a unit of Germanys Allianz SE, did not disclose how much of the second-quarter rise in assets was attributable to new client money moving in, and which portion came from the performance of the funds it manages.
The rebound in assets over the past year-and-a-half has been driven by Ivascyns Pimco Income Fund and a corporate bond fund managed by Mark Kiesel, chief investment officer for global credit.
The Income Fund earlier this year surpassed the size of Pimcos Total Return Fund and managed $88.8 billion at the end of June, having more than doubled in size since the end of 2014. The Pimco Investment Grade Corporate Bond Fund managed by Kiesel now holds assets of $10.8 billion, having roughly doubled from mid-2014.
Pimcos flagship Total Return Fund, once the world’s largest bond fund at a peak of $292.9 billion in assets under management in April 2013, has shrunk to $73.3 billion at the end of the second quarter. Ivascyn declined to comment on the fund.