Italy Dec Mutual Fund Net Outflow At EUR3.19 Billion -Assogestioni
08 January 2011 - 1:42AM
Dow Jones News
Italian mutual funds posted their fourth month of net outflows
in December, totalling EUR3.19 billion, the country's fund
management association Assogestioni said Friday.
This compares with EUR2.55 billion that flowed out of funds in
November. For full-year 2010 the funds had a total net inflow of
EUR1.09 billion compared with EUR2.96 billion outflows in 2009.
Shares in 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 flow data as inflows boost profit from
fees and commissions.
Association website: http://www.assogestioni.it
-By Sabrina Cohen and Liam Moloney; Dow Jones Newswires; +39 02
5821 9906; sabrina.cohen@dowjones.com
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