(Bloomberg) — Pimco's struggles to contain outflows since the departure of money manager Bill Gross in 2014 are coming to an end and the company won't need additional cost cuts as assets stabilize by the end of the year, according to its owner Allianz.

Since Gross went out of the door, Newport Beach, California-based Pimco's assets under management have shrunk by about a quarter to $1.5 trillion. The flagship Pimco Total Return Fund -- once the world's largest mutual fund — has dwindled by 70% to $86 billion in the past three years. Lower revenue from fewer assets, along with a bonus program introduced to retain talent, pushed costs up as a share of revenue.

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