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

Azimut Hldg (BIT:AZM)
Historical Stock Chart
From Dec 2024 to Dec 2024 Click Here for more Azimut Hldg Charts.
Azimut Hldg (BIT:AZM)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Azimut Hldg Charts.