(Bloomberg) -- Pimco has overcome the departure of bond trader Bill Gross and a record period of outflows from its funds may be on the verge of ending, said Munich-based Allianz, the company’s owner.

Pimco is planning to “get close to break-even in the third quarter,” Allianz Chief Financial Officer Dieter Wemmer said in an interview with Bloomberg TV. “Some days end up as an inflow, some as an outflow.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.