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PIMCO Reports Strong Second Quarter Earnings

PIMCO Advisors Holdings LP of Newport Beach, Calif. reported strong earnings for the second quarter and reached a record $254.6 billion in assets under management, according to the company.

The company reached the record despite having lost $5.2 billion when it sold its Columbus Circle and Blairlogie units, the company said. It also announced strong overall net inflows for the quarter of $5.4 billion.

In addition, the firm's retail products and mutual fund assets under management reached $95.4 billion during the quarter, a 20.7 percent increase over the same quarter last year.