Italy February Mutual Fund Outflow Slows To EUR2.7 Billion
March 26 2012 - 11:23AM
Dow Jones News
Italian asset managers saw net outflows for a total of EUR2.7
billion in February, less than the previous month, according to
industry figures Monday.
Equity funds had net outflows of EUR679 million, offset by a big
inflow of EUR1.47 billion into bond funds, figures from
Assogestioni, the industry association, show.
Money market funds had outflows of EUR1.58 billion.
Shares of asset management companies, such as Banca Generali SpA
(BGN.MI), Mediolanum SpA (MED.MI) and Azimut SpA (AZM.MI), as well
as Intesa Sanpaolo SpA (ISP.MI) and UniCredit SpA (UCG.MI), are
sensitive to the capital flows data as inflows boost their profits
from fees and commissions.
In January, the Italian industry suffered a net outflow of
EUR3.96 billion.
-By Zofia Bakowska and Gilles Castonguay, Dow Jones Newswires,
+39 02 5821 9905; zofia.bakowska@dowjones.com
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