Italian funds see 1.6 bln euro inflow in September

Italian mutual funds saw net inflows of 1.582 billion euros in September, according to figures released by Italy's fund management association, Assogestioni, on Tuesday.

Mutual funds saw net inflows of 2.852 billion euros in August.

Equity funds registered a net inflow of 339 million euros, down from an inflow of 417 million euros in August.

Bond funds showed a net inflow of 1.531 billion euros, upfrom a net inflow of 909 million euros in August.

Shares in Italian asset managers such as Mediolanum and Eurizon, owned by Intesa Sanpaolo, are sensitive to the data as inflows boost their income from fees.