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Investors Fled Italian Debt Funds After Bridge Collapse
Investors Fled Italian Debt Funds After Bridge Collapse
24 Aug 2018, 06:34 PM IST
(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.
To contact the reporter on this story: Irene García Pérez in London at igarciaperez@bloomberg.net
To contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Chris Vellacott
©2018 Bloomberg L.P.
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