Fund Aggregates
Fund flow info is mixed. GEM equity flows were negative last week again down another 54mn$. Frontier funds showed small inflow of 2.9mn$
Brazil equity funds showed outflow of 83mn$, China funds showed inflow of 411mn$. India showed inflows of 23mn$, Korea funds showed 17mn$ of outflows. Russia funds showed 38mn$ of outflow.
China fixed income funds showed inflows of 32 mn$, India fixed income funds showed outflow -936mn$, Brazil FI funds showed -1.8mn$ of outflows. Russia FI flow was neutral.
Energy funds showed 1.4bn$ in outflows
It is worth noting that MidLincoln data shows flow dynamics for last week ending last Friday where as EPFR data reports data only to last Wednesday. Which Makes ML data far more relevant
2014-11-28 Russia Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | OTP Russia Equity Fund is an open-end investment | 31.79 |
| Equity | OPEN-END FUND | JPMorgan Funds - Russia Fund is an open-end | 8.31 |
| Equity | ETF | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | 5.40 |
| Equity | ETF | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | 2.70 |
| Equity | ETF | Source RDX UCITS ETF is a UCITS compliant | 2.29 |
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Source: MidLincoln Research Russia Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | East Capital Lux - Russian Fund is an open-end | -20.18 |
| Equity | OPEN-END FUND | Parvest Equity Russia is a SICAV incorporated | -16.09 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | -12.91 |
| Fixed Income | OPEN-END FUND | Parvest Bond World Inflation-Linked is an | -4.95 |
| Equity | ETF | Direxion Daily Russia Bull 3x Shares is an | -4.69 |
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Source: MidLincoln Research China Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | First State Global Umbrella PLC - China | 99.99 |
| Equity | ETF | db x-trackers Harvest CSI300 INDEX UCITS | 83.80 |
| Equity | OPEN-END FUND | Standard Life Investments Global SICAV | 54.67 |
| Equity | OPEN-END FUND | Edmond De Rothschild Chinagora is an open-end | 45.47 |
| Equity | OPEN-END FUND | UBS (CAY) China A Opportunity is an exempted | 27.78 |
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Source: MidLincoln Research China Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Julius Baer Multistock - China Evolution |
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| Equity | FUND OF FUNDS | KITM Select China A Share Securities Feeder | -99.99 |
| Equity | ETF | CSOP FTSE China A50 ETF is an exchange-traded | -99.99 |
| Equity | ETF | iShares Asia Trust - iShares FTSE A50 China | -99.99 |
| Equity | ETF | Hang Seng Investment Index Funds Series - | -99.99 |
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Source: MidLincoln Research South Africa Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI South Africa ETF is an exchange-traded | 7.34 |
| Equity | ETF | The Lyxor South Africa ETF is a UCITS compliant | 2.57 |
| Equity | ETF | HSBC MSCI South Africa UCITS ETF is an exchange-traded | 0.03 |
| Equity | ETF | RBS Market Access FTSE/JSE Africa Top 40 | 0.00 |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
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Source: MidLincoln Research South Africa Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked | -0.01 |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | -0.01 |
| Equity | ETF | RBS Market Access FTSE/JSE Africa Top 40 | 0.00 |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | 0.00 |
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Source: MidLincoln Research Korea Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI South Korea Capped ETF is an | 42.36 |
| Equity | ETF | db x-trackers - MSCI Korea TRN Index UCITS | 5.96 |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Dist) is an | 1.46 |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Acc) is an | 0.73 |
| Equity | OPEN-END FUND | KIM Investment Funds - Korea Value Fund | 0.04 |
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Source: MidLincoln Research Korea Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -7.72 |
| Equity | OPEN-END FUND | INVESCO Korean Equity Fund is a UCITS certified | -7.16 |
| Equity | ETF | Direxion Daily Korea Bull 3x Shares is an | -1.62 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Korean Equity | -1.57 |
| Equity | ETF | Lyxor ETF MSCI Korea is an Exchange Traded | -1.51 |
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Source: MidLincoln Research India Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | GS India Equity Portfolio is a Portfolio | 34.75 |
| Equity | ETF | iShares MSCI India ETF is an exchange-traded | 22.61 |
| Equity | OPEN-END FUND | Kotak Funds - India Midcap Fund is a SICAV | 15.79 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | 12.54 |
| Equity | ETF | Direxion Daily India Bull 3X Shares is an | 9.86 |
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Source: MidLincoln Research India Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | PCA India Securities Master Investment |
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| Equity | OPEN-END FUND | Danske Invest - India is an open-end investment |
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| Fixed Income | OPEN-END FUND | UTI Indian Fixed Income Fund PLC is an | -99.99 |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -39.61 |
| Equity | OPEN-END FUND | Vontobel India Select Fund is an open-end | -17.07 |
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Source: MidLincoln Research Turkey Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey ETF is an exchange-traded | 0.72 |
| Equity | ETF | DJ TURKEY TITANS 20 THEAM EASY UCITS ETF | 0.00 |
| Equity | ETF | HSBC MSCI TURKEY UCITS ETF is an open-end, | 0.00 |
| Equity | ETF | RBS Market Access Dow Jones Turkey Titans | 0.00 |
| Equity | ETF | UBS ETF - MSCI Turkey UCITS ETF is an exchange | 0.00 |
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Source: MidLincoln Research Turkey Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | -2.11 |
| Equity | ETF | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -1.01 |
| Equity | ETF | DJ TURKEY TITANS 20 THEAM EASY UCITS ETF | 0.00 |
| Equity | ETF | HSBC MSCI TURKEY UCITS ETF is an open-end, | 0.00 |
| Equity | ETF | RBS Market Access Dow Jones Turkey Titans | 0.00 |
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Source: MidLincoln Research Brazil Inflows assclass | Type | profile | flow USD mln$ |
| Fixed Income | OPEN-END FUND | UBS (Lux) Bond Sicav - Brazil is an open-end | 6.29 |
| Equity | ETF | ProShares UltraShort MSCI Brazil Capped is short | 3.31 |
| Fixed Income | OPEN-END FUND | Bradesco Global Funds - Brazilian Hard | 2.22 |
| Equity | OPEN-END FUND | Amundi Funds - Equity Brazil is a SICAV incorporated | 1.49 |
| Equity | ETF | iShares MSCI Brazil UCITS ETF (Acc) is an | 0.96 |
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Source: MidLincoln Research Brazil Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Arsago Brazil Equity Value is an open-end |
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| Fixed Income | OPEN-END FUND | Fondo Mutuo Security Fixed Income BRL is | -99.99 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | -33.25 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | -21.30 |
| Equity | ETF | iShares MSCI Brazil Capped ETF is an exchange-traded | -14.38 |
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Source: MidLincoln Research Australia Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Australia Equity Income Fund is an open-end | 5.26 |
| Fixed Income | OPEN-END FUND | ZKB-CIF I Australia Govt. Bond Index is | 5.14 |
| Equity | ETF | The Lyxor ETF S&P ASX 200 is an open-ended | 1.99 |
| Equity | ETF | Lyxor ETF Australia (S&P ASX 200)-A is an | 1.26 |
| Equity | OPEN-END FUND | SSgA Australia Index Equity Fund is an | 0.95 |
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Source: MidLincoln Research Australia Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Australia ETF is an exchange-traded | -0.49 |
| Equity | OPEN-END FUND | NESTOR Australien Fonds is an open-end investment | -0.27 |
| Equity | OPEN-END FUND | Fisher Funds - Australian Growth Fund is | -0.26 |
| Equity | OPEN-END FUND | NESTOR Australien Fonds is an open-end | -0.16 |
| Equity | OPEN-END FUND | OneAnswer Single-Asset Class - Australian | -0.07 |
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Source: MidLincoln Research Canada Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | The Lyxor ETF Canada S&P TSX 60 is an open-ended | 6.93 |
| Equity | ETF | db x-trackers MSCI Canada TRN Index UCITS | 5.26 |
| Equity | ETF | Lyxor ETF Canada (S&P TSX 60)-A is an open-ended | 4.37 |
| Equity | ETF | UBS ETF - MSCI Canada UCITS ETF is an exchange | 1.89 |
| Equity | ETF | UBS ETF - MSCI Canada 100% hedged to CHF | 0.00 |
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Source: MidLincoln Research Canada Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Canada ETF is an exchange-traded | -27.31 |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | -2.63 |
| Equity | ETF | The UBS ETFs plc - MSCI Canada SF UCITS ETF | -2.34 |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | -1.65 |
| Equity | ETF | HSBC MSCI Canada UCITS ETF is an exchange-traded | -0.10 |
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Source: MidLincoln Research
Good luck! And don’t stay out of the market for too long. As the policy of being too cautious is the greatest risk of all.
Ovanes Oganisyan research@midlincoln.com
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