Italian mutual funds posted their 10th consecutive month of net outflows in June as investors withdrew EUR3.1 billion, the country's asset management association, Assogestioni, said Thursday.

Outflows from bond funds were EUR1 billion, while equity funds posted a EUR502 million outflow and liquidity funds posted an outflow of EUR1 billion.

Italian asset management is mainly run by large commercial banks but listed specialists Banca Generali SpA (BGN.MI), Mediolanum SpA (MED.MI) and Azimut Holding SpA (AZM.MI) all compete in the sector.

Association website: www.assogestioni.it

-By Giada Zampano, Dow Jones Newswires; +39-06-6976-6920; giada.zampano@dowjones.com

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