Italy's mutual funds registered net outflows of EUR1.83 billion in August, a negative reading for the 12th consecutive month, the country's asset management association Assogestioni said Friday.

Closed funds registered inflows of EUR795 million, while open-ended funds registered outflows of EUR2.167 billion, the association said.

Bond and equity funds suffered most, it added.

Shares of asset-management companies such as Banca Generali SpA (BGN.MI), Mediolanum SpA (MED.MI) and Azimut SpA (AZM.MI), as well as Intesa Sanpaolo SpA (ISP.MI) and UniCredit SpA (UCG.MI), are sensitive to capital flows data as inflows boost profit from fees and commissions.

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

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