Italy Mutual Funds See EUR3.1 Billion Outflow In June
July 07 2011 - 8:42AM
Dow Jones News
Italian mutual funds posted their 10th consecutive month of net
outflows in June as investors withdrew EUR3.1 billion, the
country's asset management association, Assogestioni, said
Thursday.
Outflows from bond funds were EUR1 billion, while equity funds
posted a EUR502 million outflow and liquidity funds posted an
outflow of EUR1 billion.
Italian asset management is mainly run by large commercial banks
but listed specialists Banca Generali SpA (BGN.MI), Mediolanum SpA
(MED.MI) and Azimut Holding SpA (AZM.MI) all compete in the
sector.
Association website: www.assogestioni.it
-By Giada Zampano, Dow Jones Newswires; +39-06-6976-6920;
giada.zampano@dowjones.com
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