Several of the biggest investors in Allianz are pressing the German insurer to step up oversight of its California asset management unit Pimco and one is considering the unusual step of going public with its concerns at a shareholder meeting in May. Reuters contacted the 10 top investors in Allianz as well as smaller shareholders to gauge their views on Pimco, the bond powerhouse whose reputation has been tarnished by a run of poor returns and the departure of CEO Mohamed El-Erian amid a row with co-founder Bill Gross. Six of the biggest shareholders declined to comment ahead of the Allianz annual general meeting (AGM), scheduled to take place on May 7. However three other top shareholders, speaking to Reuters on condition that they were not identified, were more critical, saying Allianz still needed to persuade them that the problems at Newport Beach-based Pimco were under control.
via Business News - Yahoo Finance http://ift.tt/1k6R9tf
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