Jonathan Weber • Mon, Nov. 10
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Update: Allianz Reports Strong Quarterly Results And Announces A New Dividend PolicyJonathan Weber • Mon, Nov. 10
- Allianz reported Q3 revenues of $35.7 billion (up 14.5% yoy) and net income growth of 11.2%.
- Allianz announced it plans to increase its payout ratio from 40% to 50%.
- In my original article, I wrote about Allianz' low valuation and its high dividend, a strong quarter and the announcement of a higher dividend confirm my original thesis.
- I remain with my original conclusion: Allianz is attractive for income oriented investors.
There are no Transcripts on ALIZF.
Fri, Sep. 26, 11:49 AM
- Pimco's closed-end funds and ETFs are plunging in the wake of Bill Gross' exit to Janus: PHK -8.7%, PGP -8.5%, PTY -6.2%, PCN -4.2%, RCS -4.3%, PFL -3.6%, PFN -2.7%, PKO -2.5%, PDI -2.2%, PCI -1.4%, BOND -0.2%.
- "A lot of people bought into Pimco because of Bill Gross, who was the face of the organization, and so they’re shooting first and asking questions later,” says Motley Fool Asset Management CIO Bill Mann. "Investing is a personal business, and the market is saying it trusted Bill Gross.”
- Meanwhile, headlines indicate Dan Ivascyn, Pimco's (OTCQX:AZSEY, OTCPK:ALIZF) deputy chief investment officer, will succeed Gross and take over portfolio management; WSJ had written earlier this week that Ivasycn already was growing in popularity among Pimco investors, who had been putting more money into his fund even as they were pulling it from Gross’ fund.
Fri, Sep. 26, 10:07 AM
- It's not just shares of Janus (JNS +36.2%) and Allianz (OTCQX:AZSEY -5.7%) that are moving in response to Bill Gross' job change - traders say the news sparked knee-jerk selling in Treasury bonds.
- "Concerns over his abrupt departure are weighing on Treasury prices," says Tom di Galoma, head of fixed income rates at ED&F Man Capital Markets; the fear is that Pimco's clients will redeem, forcing Pimco to liquidate Treasury bonds.
- “He’s been a bond bull for most of his career, and during that time bonds have been in a bull market - maybe the next Pimco bond managers won’t be as bullish,” says Aaron Kohli of BNP Paribas.
- Gross manages the $221B Pimco Total Return Fund, the world's largest bond fund by assets, which held 41% of its investments in U.S. government-related holdings, a proxy for Treasury bonds, at the end of August.
- Treasurys have climbed off lows but remain in the red: TBT, TLT, TMV, SHY, IEF, TBF, EDV, PST, TMF, TTT
Fri, Sep. 26, 9:19 AM
- Allianz (OTCPK:ALIZF, OTCQX:AZSEY) slips in European action after Bill Gross bolts from Pimco to Janus Capital.
- Shares of the financial services giant were off 4.2% in Frankfurt trading.
- The story is different at Janus Capital (NYSE:JNS) with shares now up 38.5% premarket on the Gross development.
- Some analysts are waiting for the rest of the story to emerge on Gross' exit with the question on if a non-compete agreement exists being bandied around.
Wed, Sep. 17, 12:19 PM
- Continuing a leadership shakeup at Pimco (OTCQX:AZSEY, OTCPK:ALIZF), the company's London-based emerging markets equities chief Masha Gordon has left "to pursue other interests." Deputy CIO and Global Head of Equities Virginie Maisonneuve is running emerging markets following the departure.
- Gordon joined Pimco in 2010 from Goldman Sachs where she had worked on emerging markets equities strategy since 2003.
Wed, Sep. 3, 12:30 PM
- The Pimco Total Return Fund saw $3.9B of outflows in August, according to Morningstar, the 16th straight month of exits, and brining the total pulled during that streak to nearly $70B. Assets under management peaked at nearly $300B in April 2013 and now stand at $221.6B.
- The fund did post a return of 1.1% in August, beating 77% of peers. Year-to-date though, the fund has returned 4.31%, trailing 73% of peers.
- A division of Allianz (OTCPK:ALIZF, OTCQX:AZSEY), Pimco had $1.97T in AUM as of June 30.
- The ETF version of the Total Return Fund (NYSEARCA:BOND) had net inflows of $87M in August, its third straight month of additions and bringing total AUM to $3.6B.
- Competitor DoubleLine Funds' (Gundlach) Total Return Bond Fund had its 7th straight month of inflows, gathering $562M. Its 5.46% return YTD is ahead of the benchmark Aggregate Bond Index's 4.81% gain, and is beating 77% of peers.
Tue, Aug. 19, 12:05 PM
- Trying to ease pressure on its struggling fixed-income business - the Total Return Fund suffered another $830M of outflows last month - Pimco is branching out into equity funds, and today announced a group of five hires.
- Earlier this year, Pimco's new CEO Doug Hodge talked about an "urgency" to diversity into equities, but now global head of equities at Pimco Virginie Maisonneuve has played down that angle. "There is no urgency to build the business - just a commitment to do so."
- Pimco parent: Allianz (OTCQX:AZSEY, OTCPK:ALIZF)
Fri, Aug. 8, 4:13 AM
- Bill Gross received the support of his management team at parent company Allianz (OTCQX:AZSEY) this morning, despite the 15th straight month of outflows from his Total Return Fund (NYSEARCA:BOND), which recorded an $830M outflow in July.
- Allianz CFO Dieter Wemmer states that that Gross' fund is still delivering reasonable returns.
- Pimco outflows continues to weigh on Allianz's results despite the German firm posting a 10.5% rise today in second-quarter net profit.
Tue, Jul. 8, 4:13 PM
- Allianz's (AZSEY, ALIZF) golden child is lately looking like a troubled teen, writes the FT's Oliver Ralph, and it may be time to let Pimco move out.
- It's been an amazing near 15-year run the two have had together, with Pimco's AUM growing to $1.9T from $250B in 2000. The long bond bull market has helped, but so has Bill Gross' Total Return Fund beating its benchmark in 11 of the past 15 years. With interest rates looking like they're about to take off, and Gross finding it harder to outperform without the tailwind of a rising market, could this be the moment to sell high?
- To review, Allianz purchased a 70% stake in Pimco for $3.3B and has since bought the rest. Last year, Pimco generated net profits of nearly $2.5B for Allianz.
Tue, May. 27, 12:19 PM
- It's McCulley's third stint at Pimco, and the world has to thank him for terms like "shadow banking system" and "Minsky moment." He's joined the firm this time as Chief Economist. He'll be a member of the investment committee and report to Bill Gross.
- His hiring, of course, comes following the tumult at the firm surrounding the departure of Mohamed El-Erian amid reports of his difficulty in getting along with Gross. According to Pimco CEO Douglas Hodge, Gross personally led the re-recruiting of McCulley.
- Pimco parent: Allianz (AZSEY +1.4%)
- Source: Press Release
Wed, May. 7, 8:09 AM
- "There is no reason [for shareholders] to rake us over the coals," says Allianz (AZSEY, ALIZF) CEO Michael Diekmann at the annual meeting, as its cash cow Pimco suffers a run of bad results, management tumult, and net outflows of funds.
- "Pimco's halo is crumbling, and with it Allianz's share price," says a fund manager at Union investment, a top holder of Allianz shares. "We will see whether the new management structure with six deputy investment officers under Bill Gross will be sustained and generate better investment returns ... "What are you going to do to finally get Pimco out of the negative headlines? Are you going to get more involved at Newport Beach?"
Fri, Mar. 7, 5:22 AM
- Bill Gross has accused departing Pimco (BOND) CEO Mohamed El-Erian of "trying to undermine" him, telling Reuters that he has evidence that El-Erian "wrote" a recent WSJ article that described the breakdown in the men's relationship and didn't portray Gross in a particularly flattering light.
- When asked what the evidence was, Gross replied: "You're on his side. Great, he's got you, too, wrapped around his charming right finger."
- Gross also indicated that he has monitored El-Erian's phone calls.
- A Pimco spokesman later denied that Gross made the comments that Reuters attributes to him, while the WSJ hotly refuted that El-Erian "wrote" the article.
- Pimco's parent company is Allianz (AZSEY).
- Pimco funds: AUD, BABZ, BUND, CAD, CORP, DI, FIVZ, FORX, GOVY
Jul. 19, 2013, 2:59 AMAIG (AIG), MetLife (MET) and Prudential Financial (PRU) are among nine global insurers that have been categorized as "systemically important" by the G20's Financial Stability Board. The designation, which U.S. authorities also want to place on the firms, will mean they'll have to hold higher capital reserves, and formulate recovery and resolution plans to limit any fallout should they collapse. Unlike in the U.S., GE Capital's (GE) not on the list, although Prudential PLC (PRU), Aviva (AV), Germany's Allianz (ALIZF.PK), France's Axa (AXAHY.PK), China's Ping An (PIAIF.PK) and Italy's Assicurazioni Generali (ARZGF.PK) are. | 4 Comments
Jan. 15, 2012, 8:12 AMAlso in Merkel's response to the S&P downgrades comes this chilling idea: She says she will consider legislation to bar institutional investors such as insurance companies from selling bonds when ratings are downgraded, or fell below investment grade. If banning short sales doesn't work, why not step it up a notch and ban selling altogether? | 75 Comments
ALIZF vs. ETF Alternatives
The Allianz Group is one of the leading integrated financial services providers worldwide. With approximately 148,000 employees worldwide (as of December 31, 2013), Allianz serves over 83 million customers in more than 70 countries. On the insurance side, Allianz is the market leader in the... More
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