Fund Aggregates
Last week ending Friday Emerging markets fund flow turned to inflow. GEM dedicated funds reported inflows of US381mn following 3 or 4 weeks of outflows. China equity funds registered 168$ mn of inflow, Russia funds showed 40mn$ of inflows. India funds showed outflow of 202mn$, Korea funds outflow showed 88 mn$, South Africa Equity funds lost 3.3 mn$ to outflows while Turkey outflow was 1.4mln$. Elsewhere BRIC Equity fund flow was negative 21mn$. MENA, GCC and ME fund flow was neutral.
Fixed income Brazill funds showed outflow of 1.5mn$, FI India funds showed inflow of 2mn$.
Technology and Utilities Sector funds showed large outflow while energy healthcare and real estate showed small inflow.
Elsewhere long/short equity funds showed large outflow as well as large cap funds and small cap funds.
2014-10-03
Russia Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | Direxion Daily Russia | 30.92 |
| Equity | ETF | Market Vectors Russia | 23.67 |
| Equity | OPEN-END FUND | Parvest Equity Russia | 6.95 |
| Equity | ETF | iShares MSCI Russia ADR/GDR | 4.56 |
| Fixed Income | OPEN-END FUND | Parvest Bond World Inflation-Linked | 3.56 |
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Source: MidLincoln Research
Russia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | VelocityShares Russia |
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| Equity | OPEN-END FUND | OTP Russia Equity Fund | -31.83 |
| Equity | ETF | LYXOR ETF RUSSIA Dow | -6.88 |
| Equity | OPEN-END FUND | Russian Small and Mid | -4.94 |
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Source: MidLincoln Research
China Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | INVESCO PRC Equity | 99.99 |
| Equity | OPEN-END FUND | HSBC Global Investment | 95.71 |
| Equity | ETF | E Fund CSI 100 A-Share | 37.16 |
| Equity | OPEN-END FUND | UBS (Lux) Institutional | 24.32 |
| Equity | OPEN-END FUND | UBS (CAY) China A Opportunity | 24.25 |
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Source: MidLincoln Research China Outflows assclass | Type | prof | flow USD mln$ |
| Equity | FUND OF FUNDS | TISCO China H-Shares |
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| Equity | ETF | Bosera FTSE China A50 | -99.99 |
| Equity | OPEN-END FUND | Matthews China Fund | -76.71 |
| Equity | ETF | Deutsche X-trackers Harvest | -51.58 |
| Equity | OPEN-END FUND | KB China Mainland A | -34.56 |
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Source: MidLincoln Research South Africa Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Africa | 0.06 |
| Equity | ETF | NEXT FUNDS FTSE/JSE | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa | 0.00 |
| Equity | ETF | RBS Market Access FTSE/JSE | 0.00 |
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Source: MidLincoln Research South Africa Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Africa | -7.06 |
| Equity | ETF | The Lyxor South Africa | -3.99 |
| Equity | ETF | HSBC MSCI South Africa | -0.02 |
| Equity | ETF | NEXT FUNDS FTSE/JSE | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa | 0.00 |
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Source: MidLincoln Research Korea Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Korea UCITS | 8.76 |
| Equity | OPEN-END FUND | INVESCO Korean Equity | 0.53 |
| Equity | FUND OF FUNDS | Baring Korea Feeder | 0.14 |
| Equity | OPEN-END FUND | Amundi Funds - Equity | 0.03 |
| Equity | ETF | NEXT NOTES KOSPI200 Leveraged | 0.00 |
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Source: MidLincoln Research Korea Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Korea | -89.36 |
| Equity | ETF | db x-trackers - MSCI | -29.08 |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea | -9.05 |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea | -8.83 |
| Equity | OPEN-END FUND | Matthews Korea Fund | -1.69 |
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Source: MidLincoln Research India Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | Matthews India Fund | 69.32 |
| Equity | OPEN-END FUND | Carnegie Indienfond | 20.87 |
| Equity | OPEN-END FUND | Handelsbanken Indien | 16.80 |
| Equity | OPEN-END FUND | Aberdeen Select Portfolio | 15.64 |
| Equity | OPEN-END FUND | PineBridge Global Funds | 8.01 |
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Source: MidLincoln Research India Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | JPMorgan Funds - India | -99.99 |
| Equity | OPEN-END FUND | Jupiter India Fund | -99.99 |
| Equity | OPEN-END FUND | HSBC Global Investment | -14.04 |
| Equity | OPEN-END FUND | Vontobel India Fund | -13.00 |
| Equity | OPEN-END FUND | DWS Premier Investment | -12.43 |
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Source: MidLincoln Research Turkey Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey UCITS | 0.73 |
| Equity | ETF | DJ TURKEY TITANS 20 THEAM | 0.00 |
| Equity | ETF | HSBC MSCI TURKEY UCITS | 0.00 |
| Equity | ETF | HSBC MSCI TURKEY UCITS | 0.00 |
| Equity | ETF | RBS Market Access Dow | 0.00 |
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Source: MidLincoln Research Turkey Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | The Lyxor ETF Turkey | -11.90 |
| Equity | ETF | The Lyxor ETF Turkey | -11.90 |
| Equity | ETF | The Lyxor ETF Turkey | -6.06 |
| Equity | ETF | iShares MSCI Turkey ETF | -1.44 |
| Equity | ETF | DJ TURKEY TITANS 20 THEAM | 0.00 |
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Source: MidLincoln Research Brazil Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | Direxion Daily Brazil | 7.48 |
| Fixed Income | OPEN-END FUND | JPMorgan Specialist | 1.16 |
| Equity | OPEN-END FUND | Nordea 1 SICAV - Brazilian | 0.47 |
| Equity | OPEN-END FUND | Fama Brazil Fund - | 0.42 |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund | 0.09 |
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Source: MidLincoln Research Brazil Outflows assclass | Type | prof | flow USD mln$ |
| Fixed Income | OPEN-END FUND | UBS (Lux) Bond Sicav |
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| Fixed Income | OPEN-END FUND | Fondo Mutuo Security | -99.99 |
| Equity | ETF | iShares MSCI Brazil Capped | -47.01 |
| Equity | OPEN-END FUND | BNY Mellon Global Funds | -31.43 |
| Equity | ETF | iShares MSCI Brazil UCITS | -19.74 |
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Source: MidLincoln Research Australia Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | db x-trackers S&P/ASX | 6.78 |
| Equity | OPEN-END FUND | Australia Equity Income | 3.11 |
| Fixed Income | OPEN-END FUND |
| 2.38 |
| Equity | OPEN-END FUND | UBS (Lux) Equity Fund | 0.20 |
| Fixed Income | OPEN-END FUND | Daiwa Bond Fund Series | 0.08 |
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Source: MidLincoln Research Australia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Australia | -3.02 |
| Equity | OPEN-END FUND | Candriam Equities L | -2.81 |
| Equity | ETF | WisdomTree Australia | -2.78 |
| Equity | OPEN-END FUND | Baring International | -1.40 |
| Equity | OPEN-END FUND | Baring International | -1.00 |
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Source: MidLincoln Research Canada Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | The Lyxor ETF Canada | 6.01 |
| Equity | ETF | Lyxor ETF Canada (S&P | 3.43 |
| Equity | ETF | HSBC MSCI Canada UCITS | 0.16 |
| Equity | ETF | The UBS ETFs plc - MSCI | 0.00 |
| Equity | ETF | UBS ETF - MSCI Canada | 0.00 |
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Source: MidLincoln Research Canada Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Canada ETF | -99.99 |
| Equity | ETF | iShares MSCI Canada ETF | -45.88 |
| Equity | ETF | iShares MSCI Canada - | -13.87 |
| Equity | ETF | UBS ETF - MSCI Canada | -13.21 |
| Equity | ETF | First Trust Canada AlphaDEX | -10.53 |
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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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