Midlincoln Aggregates for funds Between August 13 and August 6 Focus | Focus | Asset Class | Flow US$ mn | Commodities | INDUSTRIAL METALS | Commodity | 161,3 | Commodities | PRECIOUS METAL SECTOR | Equity | 67,7 | country | AUSTRALIA | Equity | -9,2 | country | BRAZIL | Equity | -82,8 | country | CHINA | Equity | 309,5 | country | INDIA | Equity | -47,3 | country | ISRAEL | Equity | 2,5 | country | JAPAN | Equity | 7943,0 | country | KOREA | Equity | 89,7 | country | POLAND | Equity | -17,1 | country | RUSSIA | Equity | 50,7 | country | SOUTH AFRICA | Equity | -10,6 | country | SPAIN | Equity | 9,2 | country | TURKEY | Equity | -15,0 | country | UNITED KINGDOM | Equity | 59,6 | country | AUSTRALIA | Fixed Income | 0,8 | country | BRAZIL | Fixed Income | 5,2 | country | CHINA | Fixed Income | 33,9 | country | INDIA | Fixed Income | 4,0 | country | JAPAN | Fixed Income | -12,5 | country | KOREA | Fixed Income | 0,0 | country | RUSSIA | Fixed Income | 0,4 | country | JAPAN | Mixed Allocation | -17,9 | industry | BASIC MATERIALS SECTOR | Equity | -41,7 | industry | COMMUNICATIONS SECTOR | Equity | -34,9 | industry | ENERGY SECTOR | Equity | 1293,6 | industry | FINANCIAL SECTOR | Equity | -33,2 | industry | HEALTH CARE SECTOR | Equity | -18,2 | industry | INDUSTRIAL SECTOR | Equity | -38,8 | industry | MULTIPLE SECTOR | Equity | 0,0 | industry | NATURAL RESOURCES SECTOR | Equity | -10,4 | industry | REAL ESTATE SECTOR | Equity | 39,1 | industry | TECHNOLOGY SECTOR | Equity | -64,7 | industry | UTILITIES SECTOR | Equity | 7,2 | region | AFRICAN REGION | Equity | -12,0 | region | ASIAN PACIFIC REGION | Equity | -1625,1 | region | ASIAN PACIFIC REGION EX JAPAN | Equity | 455,0 | region | EASTERN EUROPEAN REGION | Equity | -63,9 | region | EUROPEAN REGION | Equity | -383,2 | region | LATIN AMERICAN REGION | Equity | -64,7 | region | MIDDLE EAST REGION | Equity | 0,0 | region | NORDIC REGION | Equity | -6,4 | region | NORTH AMERICAN REGION | Equity | -76,9 | region | AFRICAN REGION | Fixed Income | 0,0 | region | ASIAN PACIFIC REGION | Fixed Income | -22,2 | region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | -6,5 | region | EASTERN EUROPEAN REGION | Fixed Income | 0,6 | region | EUROPEAN REGION | Fixed Income | -5836,1 | region | LATIN AMERICAN REGION | Fixed Income | -6,9 | region | NORTH AMERICAN REGION | Fixed Income | -0,5 | region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0,0 | Risk | LONG SHORT | Alternative | -463,8 | Risk | LONG SHORT | Equity | 787,8 | Risk | GOVERNMENT BOND | Fixed Income | -104,5 | Risk | INFLATION PROTECTED | Fixed Income | -1075,8 | Risk | LONG SHORT | Fixed Income | 7,9 | Risk | LONG SHORT | Mixed Allocation | -0,8 | segment | BRIC | Equity | -46,1 | segment | DEVELOPED MARKETS | Equity | 137,5 | segment | EMEA | Equity | -0,5 | segment | EMERGING MARKETS | Equity | 829,3 | segment | GCC | Equity | 3,0 | segment | MENA | Equity | 21,0 | segment | BRIC | Fixed Income | 0,4 | segment | EMEA | Fixed Income | 0,5 | segment | GCC | Fixed Income | 0,0 | segment | MENA | Fixed Income | 2,3 | Size | LARGE-CAP | Alternative | 13,1 | Size | LARGE-CAP | Equity | 5652,3 | Size | MID-CAP | Equity | -576,2 | Size | SMALL-CAP | Equity | -682,2 |
Source: Midlincoln Research
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| Fund Aggregates
GEM Equity Fund Flow EM equity fund flows totaled 823 mn$ for pan GEM funds. Russia posted 50mn$ of inflows, China 309mn$ of inflows, Korea 89mn$ of inflows.
Turkey showed an outflow of 15mn$, South Africa outflow of 10mn$, India outflow of 47mn$ and Brazil and outflow of 82mn$.
Fixed income Most of the destinations even Russia posted inflows except Japan.
Sectors Energy funds had quite chunky inflows of 1.2bn$
Data as of 2014-08-13 Weekly flows
Russia Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | Market Vectors Russia | 67.24 |
| Equity | ETF | Direxion Daily Russia | 21.69 |
| Equity | OPEN-END FUND | JPMorgan Funds - Ru | 19.79 |
| Equity | OPEN-END FUND | JPMorgan Funds - Ru | 13.23 |
| Equity | OPEN-END FUND | UBS (Lux) Equity SICA | 11.43 |
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Source: MidLincoln Research
Russia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | VelocityShares Russia |
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| Equity | ETF | ComStage ETF MSCI Rus | -43.06 |
| Equity | OPEN-END FUND | OTP Russia Equity F | -9.48 |
| Equity | OPEN-END FUND | East Capital Lux - Ru | -7.75 |
| Equity | OPEN-END FUND | East Capital Lux - | -6.47 |
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Source: MidLincoln Research
China Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | CSOP FTSE China A50 E | 99.99 |
| Equity | ETF | iShares Asia Trust - | 99.99 |
| Equity | OPEN-END FUND | HSBC Global Investmen | 82.49 |
| Equity | ETF | iShares MSCI China ET | 71.44 |
| Fixed Income | OPEN-END FUND | DWS Invest - China Bo | 67.02 |
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Source: MidLincoln Research
China Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | LYXOR UCITS ETF CHINA | -99.99 |
| Equity | ETF | Yuanta/P-shares SSE50 | -99.99 |
| Fixed Income | OPEN-END FUND | BNP Paribas Flexi I | -99.82 |
| Equity | ETF | LYXOR UCITS ETF CHINA | -98.44 |
| Equity | OPEN-END FUND | Mirae Asset Tiger C | -59.99 |
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Source: MidLincoln Research
South Africa Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Af | 0.31 |
| Equity | ETF | HSBC MSCI South Afric | 0.05 |
| Equity | ETF | iShares MSCI South Af | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE A | 0.00 |
| Equity | ETF | NEXT FUNDS 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 Af | -6.90 |
| Equity | ETF | The Lyxor South Afric | -4.05 |
| Equity | ETF | RBS Market Access FTS | -0.03 |
| Equity | ETF | iShares MSCI South Af | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE A | 0.00 |
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Source: MidLincoln Research
Korea Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Ko | 49.85 |
| Equity | OPEN-END FUND | JPMorgan Funds - Kore | 13.77 |
| Equity | OPEN-END FUND | JPMorgan Funds - Ko | 6.91 |
| Equity | OPEN-END FUND | HSBC Global Investmen | 6.06 |
| Equity | OPEN-END FUND | HSBC Global Investm | 4.17 |
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Source: MidLincoln Research
Korea Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | Lyxor ETF MSCI Korea | -1.78 |
| Equity | ETF | Lyxor ETF MSCI Korea | -1.45 |
| Equity | OPEN-END FUND | Parvest Equity Sout | -0.23 |
| Equity | FUND OF FUNDS | Baring Korea Feeder | -0.11 |
| Equity | FUND OF FUNDS |
| -0.04 |
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Source: MidLincoln Research
India Inflows assclass | Type | prof | flow USD mln$ |
| Fixed Income | OPEN-END FUND | Kotak Funds - India | 53.12 |
| Equity | ETF | WisdomTree India Earn | 52.37 |
| Equity | OPEN-END FUND | HSBC Global Investmen | 52.34 |
| Equity | OPEN-END FUND | Vontobel India Fund | 23.69 |
| Equity | ETF | iShares MSCI India ET | 16.42 |
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Source: MidLincoln Research
India Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | HSBC Global Investm | -37.54 |
| Equity | OPEN-END FUND | Eastspring India Se | -29.75 |
| Equity | ETF | Market Vectors India | -26.16 |
| Equity | ETF | Lyxor ETF MSCI India | -24.88 |
| Equity | ETF | iShares MSCI India In | -23.19 |
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Source: MidLincoln Research
Turkey Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | The Lyxor ETF Turkey | 4.72 |
| Equity | ETF | db x-trackers MSCI Tu | 0.00 |
| Equity | ETF | DJ TURKEY TITANS 20 T | 0.00 |
| Equity | ETF | HSBC MSCI TURKEY UCIT | 0.00 |
| Equity | ETF | UBS ETF - MSCI Turkey | 0.00 |
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Source: MidLincoln Research
Turkey Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey E | -16.18 |
| Equity | ETF | iShares MSCI Turkey U | -3.58 |
| Equity | ETF | RBS Market Access Dow | -0.08 |
| Equity | ETF | db x-trackers MSCI Tu | 0.00 |
| Equity | ETF | DJ TURKEY TITANS 20 T | 0.00 |
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Source: MidLincoln Research
Brazil Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Brazil U | 7.94 |
| Equity | OPEN-END FUND | JPMorgan Brazil Sec | 5.52 |
| Fixed Income | OPEN-END FUND | Bradesco Global Fun | 3.54 |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fun | 3.43 |
| Equity | OPEN-END FUND | HSBC Global Investmen | 3.08 |
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Source: MidLincoln Research
Brazil Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | Lyxor ETF Brazil (Ibo | -31.03 |
| Equity | ETF | Lyxor ETF Brazil (IBO | -25.27 |
| Equity | ETF | iShares MSCI Brazil C | -16.04 |
| Equity | ETF | db x-trackers - MSCI | -10.43 |
| Equity | OPEN-END FUND | HSBC Global Investm | -9.13 |
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Source: MidLincoln Research
Australia Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Australi | 5.00 |
| Equity | OPEN-END FUND | Candriam Equities L - | 2.65 |
| Equity | ETF | iShares MSCI Australi | 1.06 |
| Equity | OPEN-END FUND |
| 0.91 |
| Equity | OPEN-END FUND | Baring International | 0.75 |
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Source: MidLincoln Research
Australia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Australi | -11.31 |
| Equity | OPEN-END FUND | Swisscanto AST Avan | -3.43 |
| Equity | OPEN-END FUND | Baring Internationa | -1.72 |
| Equity | OPEN-END FUND | Australia Equity In | -1.11 |
| Equity | OPEN-END FUND | Candriam Equities L | -1.06 |
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Source: MidLincoln Research
Canada Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | The UBS ETF - MSCI Ca | 92.70 |
| Equity | ETF | The UBS ETF - MSCI Ca | 70.55 |
| Equity | ETF | iShares MSCI Canada - | 50.63 |
| Equity | ETF | UBS ETF - MSCI Canada | 45.94 |
| Equity | ETF | iShares MSCI Canada E | 27.91 |
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Source: MidLincoln Research
Canada Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | The UBS ETFs plc - MS | -1.80 |
| Equity | ETF | The Lyxor ETF Canada | 0.00 |
| Equity | ETF | Lyxor ETF Canada (S&P | 0.00 |
| Equity | ETF | First Trust Canada Al | 0.00 |
| Equity | ETF | UBS ETF - MSCI Canada | 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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