Italian mutual funds posted a net inflow of EUR1.57 billion, according to figures from Italy's fund managers' association Assogestioni Friday, compared with an outflow of EUR807 million in April.

The positive figure is mainly related to an increase of equity and bond funds inflows, according to data provided by Assogestioni.

In May equity inflows rose to EUR587 million from EUR373 million in April and bond funds totalled EUR257 million from a loss of EUR403 million.

Outflows since the start of the year total about EUR13.1 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 website: www.assogestioni.it

-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com
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