Fund Aggregates
Fund flow info is mixed. GEM equity inflows were negative last week -27mn$ following a month of modest inflows. Frontier funds showed small inflow of 2mn$
Brazil equity funds showed inflow of 57mn$, China funds showed outflow. India showed inflows of 124 mn$, Korea funds showed 11mn$ of outflows. Russia funds showed 18 mn$ of inflows.
China fixed income funds showed inflows of 45.5 mn$, India fixed income funds showed inflow of 27mn$, Brazil FI funds showed -3.8mn$ of outflows. Russia FI flow was neutral.
Energy funds showed inflows, as well as real estate and healthcare while technology and utilities showed 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
2014-11-24
Russia Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | East Capital Lux - Russian Fund is an open-end | 13.77 |
| Equity | ETF | Market Vectors Russia ETF is an exchange-traded | 12.59 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | 11.89 |
| Equity | OPEN-END FUND | Equity Russia Opportunities is an open-end | 2.23 |
| Fixed Income | OPEN-END FUND | Parvest Bond World Inflation-Linked is an | 1.25 |
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Source: MidLincoln Research Russia Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Parvest Equity Russia is a SICAV incorporated | -97.25 |
| Equity | OPEN-END FUND | OTP Russia Equity Fund is an open-end investment | -36.79 |
| Equity | ETF | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | -7.61 |
| Equity | ETF | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | -3.81 |
| Fixed Income | OPEN-END FUND | Ikra Sicav - Russian Taste is a SICAV incorporated | -3.16 |
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Source: MidLincoln Research China Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares Asia Trust - iShares FTSE A50 China | 73.40 |
| Equity | ETF | Deutsche X-trackers Harvest CSI 300 China | 67.98 |
| Equity | ETF | db x-trackers CSI300 Index UCITS ETF is a | 36.30 |
| Equity | OPEN-END FUND | New Capital UCITS Fund PLC - China Equity | 33.24 |
| Equity | OPEN-END FUND | Pioneer Funds - China Equity is an open-end | 31.15 |
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Source: MidLincoln Research China Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | CSOP FTSE China A50 ETF is an exchange-traded | -99.99 |
| Equity | OPEN-END FUND | First State Global Umbrella PLC - Chi 00000583 na | -99.99 |
| Equity | ETF | Harvest MSCI China A 50 Index ETF is an exchange-traded | -63.41 |
| Equity | ETF | Hang Seng Investment Index Funds Series - | -40.20 |
| Equity | ETF | W.I.S.E. Yuanta/P-shares CSI 300 ETF is an | -19.26 |
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Source: MidLincoln Research South Africa Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | RBS Market Access FTSE/JSE Africa Top 40 | 0.00 |
| Equity | ETF | The Lyxor South Africa ETF is a UCITS compliant | 0.00 |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
| Equity | ETF | HSBC MSCI South Africa UCITS ETF is an exchange-traded | 0.00 |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -0.07 |
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Source: MidLincoln Research South Africa Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI South Africa ETF is an exchange-traded | -0.14 |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -0.07 |
| Equity | ETF | RBS Market Access FTSE/JSE Africa Top 40 | 0.00 |
| Equity | ETF | The Lyxor South Africa ETF is a UCITS compliant | 0.00 |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
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Source: MidLincoln Research Korea Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Acc) is an | 14.33 |
| Equity | ETF | db x-trackers - MSCI Korea TRN Index UCITS | 11.52 |
| Equity | ETF | Direxion Daily Korea Bull 3x Shares is an | 1.61 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Korean Equity | 0.91 |
| Equity | OPEN-END FUND | Parvest Equity South Korea is an open-end | 0.35 |
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Source: MidLincoln Research Korea Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI South Korea Capped ETF is an | -17.39 |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -6.65 |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -2.46 |
| Equity | FUND OF FUNDS | Baring Korea Feeder Fund is an open-end | -1.31 |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Dist) is an | -0.93 |
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Source: MidLincoln Research India Inflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Danske Invest - India is an open-end investment | 76.71 |
| Equity | ETF | iShares MSCI India ETF is an exchange-traded | 39.45 |
| Equity | OPEN-END FUND | GS India Equity Portfolio is a Portfolio | 27.59 |
| Fixed Income | OPEN-END FUND | UTI Indian Fixed Income Fund PLC is an | 24.74 |
| Equity | OPEN-END FUND | Jupiter JGF - India Select is an open-end | 17.48 |
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Source: MidLincoln Research India Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | -22.55 |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -18.08 |
| Equity | ETF | AMUNDI ETF MSCI INDIA is a UCITS compliant, | -13.84 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | -13.74 |
| Equity | ETF | iShares MSCI India Index ETF is an exchange-traded | -10.26 |
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Source: MidLincoln Research Turkey Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | The Lyxor ETF Turkey (DJ Turkey Titans 20) | 6.19 |
| Equity | ETF | iShares MSCI Turkey ETF is an exchange-traded | 0.70 |
| 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 Turkey Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | -0.04 |
| 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 Brazil Inflows assclass | Type | profile | flow USD mln$ |
| Fixed Income | OPEN-END FUND | Fondo Mutuo Security Fixed Income BRL is | 99.99 |
| Equity | ETF | iShares MSCI Brazil Capped ETF is an exchange-traded | 57.33 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | 29.37 |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | 23.25 |
| Equity | OPEN-END FUND | Bradesco Global Funds - Brazilian Equities | 13.55 |
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Source: MidLincoln Research Brazil Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | The UBS (Irl) ETF plc - MSCI Brazil UCITS |
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| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund is an open-end investment | -4.05 |
| Fixed Income | OPEN-END FUND | UBS (Lux) Bond Sicav - Brazil is an open-end | -3.50 |
| Equity | ETF | AMUNDI ETF MSCI BRAZIL is an exchange-traded | -2.79 |
| Fixed Income | OPEN-END FUND | UBS (Lux) Bond Sicav - Brazil is an open-end | -2.69 |
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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 | 6.23 |
| Equity | OPEN-END FUND | Candriam Equities L - Australia is a SICAV | 2.64 |
| Equity | OPEN-END FUND | Candriam Equities L - Australia is a SICAV | 1.77 |
| Equity | OPEN-END FUND | SSgA Australia Index Equity Fund is an | 1.71 |
| Equity | ETF | iShares MSCI Australia UCITS ETF is an open-end, | 1.03 |
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Source: MidLincoln Research Australia Outflows assclass | Type | profile | flow USD mln$ |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring Australia | -2.21 |
| Equity | ETF | iShares MSCI Australia ETF is an exchange-traded | -1.68 |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring | -0.90 |
| Equity | OPEN-END FUND | Fisher Funds - Australian Growth Fund is | -0.39 |
| Equity | OPEN-END FUND | UBS (Lux) Equity Fund - Australia (AUD) | -0.23 |
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Source: MidLincoln Research Canada Inflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | iShares MSCI Canada ETF is an exchange-traded | 5.37 |
| Equity | ETF | HSBC MSCI Canada UCITS ETF is an exchange-traded | 0.24 |
| Equity | ETF | The UBS ETFs plc - MSCI Canada SF UCITS ETF | 0.00 |
| Equity | ETF | UBS ETF - MSCI Canada 100% hedged to CHF | 0.00 |
| Equity | ETF | The UBS ETF - MSCI Canada 100% hedged to | 0.00 |
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Source: MidLincoln Research Canada Outflows assclass | Type | profile | flow USD mln$ |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | -1.77 |
| Equity | ETF | The UBS ETFs plc - MSCI Canada SF UCITS ETF | 0.00 |
| Equity | ETF | UBS ETF - MSCI Canada 100% hedged to CHF | 0.00 |
| Equity | ETF | The UBS ETF - MSCI Canada 100% hedged to | 0.00 |
| Equity | ETF | The UBS ETF - MSCI Canada 100% hedged to | 0.00 |
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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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