Italian Mutual Funds Aug Net Inflows EUR2.83 Billion -Assogestioni

Italian mutual funds posted a net inflow of EUR2.83 billion in August, the country's fund manager association Assogestioni said Thursday.

Assogestioni said equity funds inflows in August were EUR378 million, down from EUR521 million in July. Liquidity funds posted an inflow of EUR1.578 billion. Hedge funds were hit less than the previous month, with EUR127 million outflows.

Shares in asset management companies such Banca Generali (BGN.MI), Mediolanum (MED.MI) and Azimut (AZM.MI), and Italian banking giants Intesa Sanpaolo SpA (ISP.MI) and UniCredit SpA (UCG.MI), are sensitive to the data as inflows boost their profits from fees and commissions.

Association Web site: www.assogestioni.it

-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com

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