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Pimco’s European business suffers almost 40% profit drop as performance fees slump

Asset Management Correspondent

Accounts filed with Companies House showed Pimco Europe generated £56m in profit in the 12 months to the end of December 2024 Photographer: David Swanson/Bloomberg via Getty Images

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Pimco’s European business posted an almost 40% drop in profit last year, coinciding with a fall in performance fee revenue generated by the US bond giant.

Accounts filed with Companies House showed Pimco Europe generated £56m in profit in the 12 months to the end of December 2024, down from £91m the previous year.

However, assets under management at the bond giant’s European business increased to £106bn at the end of 2024

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