Pimco Advisors’ Quarterly Profit Up 11%

Pimco Advisors Holdings LP reported third-quarter profit rose almost 11% as the biggest U.S. manager of bond funds said it attracted a record level of net inflows.

Newport Beach-based Pimco, the third-biggest publicly traded U.S. fund company by assets, said third-quarter net income rose to $21.9 million, or 42 cents a unit, from $19.8 million, or 39 cents, a year earlier. That matched the average estimate of five analysts surveyed by First Call Corp.

At Pimco Advisors LP, the operating company, net income increased nearly 16% to $59.3 million, as revenues climbed nearly 14% to $242.9 million. Assets under management climbed more than 13% to a record $256.2 billion.

Pimco, in talks to be acquired by Allianz AG, Europe’s No. 2 insurer, for about $4.4 billion in cash, was managing $254.6 billion at the end of June.

“This quarter we achieved a record $6.9 billion in net inflows, primarily as a result of new business growth at our fixed income franchise,” William Cvengros, Pimco’s chief executive, said in a statement.

Pimco’s shares rose 69 cents to $34.19 on the New York Stock Exchange.