Allianz Asset Management includes two separate investment management companies: Allianz Global Investors and Pimco. ( Read More : Bond fund outflows hit record on tapering fears ) "Our AUM (assets under management), despite all the debate about it, are holding up very well," Allianz CFO Dieter Wemmer told CNBC Europe's "Squawk Box". "The net inflows in the second quarter were still 5 billion euros so it's still in total a positive net inflow number. I think most people are focusing too much on this top fund that Bill (Gross) is managing. Pimco is more than one fund," Wemmer said. He said the group would benefit from rising interest rates "When interest rates go up it will make our earnings in the life segment… mid-term better and easier. However, in this quarter, in the transition period, we had also some losses on our hedges because we as a risk manager are hedging more against falling interest rates than against rising interest rates," he said.