Italy’s mutual funds recorded a net outflow of €5.8 billion in October, according to Milan-based Assogestioni, the Italian asset management association, The Wall Street Journal reports. This is the 14th consecutive month reflecting a net outflow with net outflows for the year up till now touching €22.8 billion.

Open-ended funds were the worst hit with outflows of €5.1 billion. In comparison, close-ended vehicles recorded outflows of only €347 million.

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