Investors Fled Italian Debt Funds After Bridge Collapse
(Bloomberg) -- Italian bond funds have fallen out of favor with investors since a motorway bridge collapsed in Genoa, prompting the country’s government to threaten nationalization of toll road contracts operated by Autostrade per l’Italia. The week ending Aug. 15, one day after the tragedy, saw the biggest outflow from Italian debt funds in eight weeks, according to data from EPFR Global. Money managers continued to head for the exits the following week, withdrawing $207 million.
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