Italy January Mutual Fund Outflows EUR3.96 Billion - Assogestioni
February 28 2012 - 5:48AM
Dow Jones News
Italian asset management association Assogestioni said Tuesday
that total outflows from mutual funds hit a record EUR3.96 billion
in January.
Equity funds in January registered net outflows of EUR643
million, it said, while bond funds recorded outflows of EUR736
million and money market funds had outflows of EUR1.12 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.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924;
liam.moloney@dowjones.com
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