Italian mutual funds posted a net inflow of EUR1.8 billion in July, according to figures from the country's fund managers' association Assogestioni released Thursday.

In an emailed statement Assogestioni said the inflows were mainly in equity and bonds funds. Hedge funds registered outflows of EUR584 million, the association said.

In June Italian mutual funds registered outflows worth EUR1.3 billion as investors decided to exit from bonds and liquidity funds.

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: http://www.assogestioni.it

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