Italian mutual funds posted a net outflow of EUR1.43 billion in June, according to figures from the country's fund managers' association Assogestioni released Monday, reversing a May net inflow.

In a statement, Assogestioni said the outflows were mainly due from redemption in bonds and liquidity funds.

In June bond outflows were EUR560 million while those of liquidity totaled EUR480 million, it said.

Outflows since the start of the year total about EUR14.5 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.

Company Web site: www.assogestioni.it

-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; liam.moloney@dowjones.com
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