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Favourable markets push Allianz funds up by a fifth

Allianz Global Investors, the investment arm of the German insurer, saw assets under management soar by 19% €654bn ($815bn) in the six months to June 30 compared with the same period last year.

The investment division, which includes the subsidiaries Pimco, RCM and Nicholas-Applegate, posted net profits of €102m. Net inflows in the six months to June 30 were €33bn.

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