ROME -(Dow Jones)- Italian mutual funds posted a net outflow of EUR7.2 billion in October, fund manager association Assogestioni said Wednesday.
Bond funds continued to be hit the hardest, dropping EUR4.84 billion; equity funds had an outflow of EUR904.2 million; and flexible funds registered an outflow of EUR222 million, 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).
Association Web site: www.assogestioni.it
-By Sofia Celeste, Dow Jones Newswires; 39 06 678 2545; sofia.celeste@ dowjones.com
(END) Dow Jones Newswires 11-07-07 0747 Copyright (c) 2007 Dow Jones & Company, Inc.
