Italy Mutual Funds April Net Outflow At EUR826 Million - Assoc
07 May 2009 - 10:00PM
Dow Jones News
Italian mutual funds posted a net outflow of EUR826 million in
April, according to figures from Italy's fund managers' association
Assogestioni Thursday, compared with an outflow of EUR5.06 billion
in March.
The drop covered mainly bond and hedge funds, which registered
outflows of EUR403 million and EUR975 million respectively.
Outflows since the start of the year total EUR13.7 billion, said
Assogestioni.
Shares of Italian asset management companies such as Azimut SpA
(AZM.MI), Mediolanum SpA (MED.MI), Banca Generali (BGN.MI) and
Anima SpA (ANM.MI) and Italian banking giants Intesa Sanpaolo SpA
(ISP.MI) and UniCredit SpA (UCG.MI), are sensitive to the data as
their profits are linked to income from fees.
Association Web site: http://www.assogestioni.it
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924;
liam.moloney@dowjones.com
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