Global fixed-income manager Pimco said an increase in the number of its outperforming funds, to 90% of its assets under management, had helped double the profits of its parent Allianz Global Investors to €230m ($303m) in the second quarter of this year.

Pimco said the proportion of its assets under management that had outperformed their benchmarks had increased since the second quarter last year, from 71% to 90%, and Pimco's presentation to shareholders said: "This is clearly above the target level. Outperforming assets continue to grow."