ROME -(Dow Jones)- Italian mutual funds posted a provisional net outflow of more than EUR4 billion in June, compared with an outflow of EUR3.6 billion in May, Italian fund manager association Assogestioni said Wednesday.
Bond funds continued to be hit the hardest, dropping EUR3.55 billion, as investors cashed it. Equity funds had an outflow of EUR2.9 billion, while flexible funds registered an inflow of EUR1.81 billion, Assogestioni said.
Monthly fund flow data can influence the stock prices of asset managers, such as Mediolanum SpA (Milan:MED) (MED.MI) and Azimut Holding SpA (Milan:AZM) (AZM.MI).
The final figures are scheduled to be published Thursday.
Association Web site: www.assogestioni.it
-By Sofia Celeste, Dow Jones Newswires; +39 06 678 2543; sofia.celeste@ dowjones.com
(END) Dow Jones Newswires 07-04-07 1256 Copyright (c) 2007 Dow Jones & Company, Inc.
