The asset management division of Allianz made a loss of €130m ($147m) in the first six months of 2003 despite a 3.1% increase in net inflows taking assets under management over the €1 trillion ($1.1 trillion) mark.

Total net inflows of €31bn brought assets managed by Pimco, Nicholas-Applegate and Allianz Dresdner Asset Management to €1.02 trillion, €10bn of which came from third-party sources.