Asset Management

Pimco’s European fund eclipses rivals by €10bn

Dominance of the European mutual funds landscape confirms a remarkable turnaround in the US asset manager's fortunes

Pimco headquarters in Newport Beach, California
Pimco headquarters in Newport Beach, California Photo: Lori Shepler / Reuters

Money poured into Pimco's giant GIS Income fund at a "gargantuan" rate over the summer, according to data provider Morningstar, taking its assets to a new record high for European mutual funds.

The €45.6bn fund — which became Europe's single largest in July — is now a full €10bn larger than its nearest competitor, AP7 Aktiefond, the default fund of the Swedish state pension system.

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