Midlincoln Aggregates for funds for the week between Sep 12 and Sep 5 Focus | Objective | Asset Class | Weekly Flow $mn | Commodities | INDUSTRIAL METALS | Commodity | -1,8 | Commodities | PRECIOUS METAL SECTOR | Equity | -81,1 | country | AUSTRALIA | Equity | -12,0 | country | AUSTRALIA | Fixed Income | 0,5 | country | BRAZIL | Equity | -38,6 | country | BRAZIL | Fixed Income | -3,0 | country | CHINA | Equity | -10728,3 | country | CHINA | Fixed Income | 34,1 | country | INDIA | Equity | 49,8 | country | INDIA | Fixed Income | 1,8 | country | ISRAEL | Equity | 0,0 | country | JAPAN | Equity | 17053,9 | country | JAPAN | Mixed Allocation | 1696,4 | country | KOREA | Equity | 21,3 | country | KOREA | Fixed Income | 0,0 | country | POLAND | Equity | -3,6 | country | RUSSIA | Equity | -37,1 | country | RUSSIA | Fixed Income | 0,2 | country | SOUTH AFRICA | Equity | -10,7 | country | SPAIN | Equity | -1,3 | country | TURKEY | Equity | -5,6 | country | UNITED KINGDOM | Equity | -14,6 | industry | BASIC MATERIALS SECTOR | Equity | -141,7 | industry | COMMUNICATIONS SECTOR | Equity | 7,5 | industry | ENERGY SECTOR | Equity | 286,9 | industry | FINANCIAL SECTOR | Equity | -5,2 | industry | HEALTH CARE SECTOR | Equity | 13,7 | industry | INDUSTRIAL SECTOR | Equity | 8,0 | industry | NATURAL RESOURCES SECTOR | Equity | -28,5 | industry | REAL ESTATE SECTOR | Equity | 151,3 | industry | TECHNOLOGY SECTOR | Equity | -10,4 | industry | UTILITIES SECTOR | Equity | 8,7 | region | AFRICAN REGION | Equity | -2,6 | region | AFRICAN REGION | Fixed Income | -0,1 | region | ASIAN PACIFIC REGION | Equity | 12,2 | region | ASIAN PACIFIC REGION | Fixed Income | -7,9 | region | ASIAN PACIFIC REGION EX JAPAN | Equity | 25,7 | region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | -0,5 | region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0,0 | region | EASTERN EUROPEAN REGION | Equity | 160,4 | region | EASTERN EUROPEAN REGION | Fixed Income | 0,1 | region | EUROPEAN REGION | Equity | 401,5 | region | EUROPEAN REGION | Fixed Income | -359,2 | region | LATIN AMERICAN REGION | Equity | -24,7 | region | LATIN AMERICAN REGION | Fixed Income | 14,4 | region | MIDDLE EAST REGION | Equity | 0,0 | region | NORDIC REGION | Equity | -6,1 | region | NORTH AMERICAN REGION | Equity | -49,4 | region | NORTH AMERICAN REGION | Fixed Income | -0,4 | Risk | GOVERNMENT BOND | Fixed Income | -20,0 | Risk | INFLATION PROTECTED | Fixed Income | 32,7 | Risk | LONG SHORT | Alternative | 10,0 | Risk | LONG SHORT | Equity | 4493,9 | Risk | LONG SHORT | Fixed Income | -0,3 | segment | BRIC | Equity | 56,0 | segment | BRIC | Fixed Income | -0,1 | segment | DEVELOPED MARKETS | Equity | -225,5 | segment | EMEA | Equity | -0,3 | segment | EMERGING MARKETS | Equity | -247,9 | segment | GCC | Equity | -0,1 | segment | MENA | Equity | 1,6 | segment | MENA | Fixed Income | 3,7 | Size | LARGE-CAP | Alternative | 0,0 | Size | LARGE-CAP | Equity | 1112,6 | Size | MID-CAP | Equity | -45,7 | Size | SMALL-CAP | Equity | -53,0 |
Source: Midlincoln Research
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| Fund Flow Aggregates
Last week (between Sep 5 and Sep 12) Emerging Market equity fund flows were set to outflows. This is first GEM outflows stats on our numbers since we started tracking th fund flow info since approximately end of May this year.
Frontier markets funds post small inflow of 1.8mn$ however.
Equity Fund Flow is mostly outflow.
China funds lost 10bn$, Brazil lost 38mn$, Russia outflows were 37mn$, South Africa posted 10.7mn$ in outflows. Turkey outflow was 5.6$mn. One exception to outflows is Eastern European fund statistic which showed 400mn$ of inflows.
Fixed Income fund flow is more quiet Brazil outflow was 3mn$ for fixed income funds, Russia fixed income funds posted 0.2mn$ of inflows. China bond funds posted 34mn$ of inflows.
Sector fund flow is mixed energy, healthcare and real estate show chunky inflows
Top 5 funds receiving inflows and Top 5 funds posting outflow focusing on one of the 9 countries in the BRICS +Turkey+SK+ Australia +Canada space. We call this universe CRABSTICKS.
2014-09-12 Russia Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | HSBC Global Investment | 17.26 |
| Equity | OPEN-END FUND | HSBC Global Investment | 15.12 |
| Equity | OPEN-END FUND | JPMorgan Funds - Russia | 7.87 |
| Equity | ETF | Market Vectors Russia | 5.08 |
| Equity | ETF | iShares MSCI Russia ADR/GDR | 2.64 |
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Source: MidLincoln Research Russia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | SEB Fund 2 - SEB Russia | -22.17 |
| Equity | OPEN-END FUND | SEB Fund 2 - SEB Russia | -12.63 |
| Equity | OPEN-END FUND | East Capital Lux - Russian | -4.35 |
| Equity | OPEN-END FUND | East Capital - Russian | -3.92 |
| Equity | OPEN-END FUND | Swedbank Robur Rysslandsfonden | -3.69 |
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Source: MidLincoln Research China Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | Shinhan BNPP Bonjour | 99.99 |
| Equity | ETF | Deutsche X-trackers Harvest | 99.99 |
| Equity | ETF | Direxion Daily FTSE China | 80.22 |
| Equity | ETF | Bosera FTSE China A50 | 34.89 |
| Equity | OPEN-END FUND | UBS (Lux) Equity Fund | 30.62 |
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Source: MidLincoln Research China Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | db x-trackers Harvest | -99.99 |
| Equity | OPEN-END FUND | Eastspring China Dragon | -88.02 |
| Equity | OPEN-END FUND | PCA China Dragon A | -43.42 |
| Equity | ETF | Hang Seng Investment | -29.88 |
| Equity | OPEN-END FUND | INVESCO PRC Equity Fund | -18.14 |
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Source: MidLincoln Research South Africa Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | NEXT FUNDS FTSE/JSE | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa | 0.00 |
| Equity | ETF | iShares MSCI South Africa | 0.00 |
| Equity | ETF | iShares MSCI South Africa | -0.14 |
| Equity | ETF | iShares MSCI South Africa | -10.53 |
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Source: MidLincoln Research South Africa Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI South Africa | -10.53 |
| Equity | ETF | iShares MSCI South Africa | -0.14 |
| Equity | ETF | NEXT FUNDS FTSE/JSE | 0.00 |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa | 0.00 |
| Equity | ETF | iShares MSCI South Africa | 0.00 |
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Source: MidLincoln Research Korea Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | INVESCO Korean Equity | 14.08 |
| Equity | ETF | iShares MSCI South Korea | 8.99 |
| Equity | ETF | iShares MSCI Korea UCITS | 0.94 |
| Equity | OPEN-END FUND | HSBC Global Investment | 0.77 |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea | 0.39 |
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Source: MidLincoln Research Korea Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea | -1.97 |
| Equity | FUND OF FUNDS | Baring Korea Feeder | -0.75 |
| Equity | OPEN-END FUND | HSBC Global Investment | -0.35 |
| Equity | ETF | iShares MSCI Korea UCITS | -0.23 |
| Equity | OPEN-END FUND | KIM Investment Funds | -0.15 |
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Source: MidLincoln Research India Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | GS India Equity Portfolio | 16.44 |
| Equity | ETF | WisdomTree India Earnings | 7.74 |
| Equity | OPEN-END FUND | Jupiter India Fund | 6.62 |
| Equity | OPEN-END FUND | Kotak Funds - India | 4.62 |
| Equity | OPEN-END FUND | Jupiter JGF - India Select | 4.52 |
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Source: MidLincoln Research India Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | HSBC Global Investment | -54.35 |
| Equity | OPEN-END FUND | HSBC Global Investment | -7.68 |
| Equity | OPEN-END FUND | JPMorgan Funds - India | -5.05 |
| Equity | ETF | EGShares India Small | -1.75 |
| Equity | OPEN-END FUND | Fidelity India Securities | -1.65 |
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Source: MidLincoln Research Turkey Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey ETF | -1.05 |
| Equity | ETF | iShares MSCI Turkey UCITS | -4.55 |
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Source: MidLincoln Research Turkey Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Turkey UCITS | -4.55 |
| Equity | ETF | iShares MSCI Turkey ETF | -1.05 |
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Source: MidLincoln Research Brazil Inflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | JPMorgan Funds - Brazil | 7.53 |
| Equity | ETF | ProShares Ultra MSCI | 5.11 |
| Equity | ETF | iShares MSCI Brazil Small-Cap | 3.21 |
| Equity | ETF | Direxion Daily Brazil | 2.30 |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund | 0.88 |
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Source: MidLincoln Research Brazil Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Brazil Capped | -32.17 |
| Equity | OPEN-END FUND | HSBC Global Investment | -8.86 |
| Equity | OPEN-END FUND | HSBC Global Investment | -8.57 |
| Equity | OPEN-END FUND | JPMorgan Brazil Securities | -5.24 |
| Equity | ETF | iShares MSCI Brazil UCITS | -4.69 |
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Source: MidLincoln Research Australia Inflows assclass | Type | prof | flow USD mln$ |
| Fixed Income | OPEN-END FUND |
| 0.53 |
| Equity | OPEN-END FUND | NESTOR Australien Fonds | 0.51 |
| Equity | OPEN-END FUND | NESTOR Australien Fonds | 0.50 |
| Fixed Income | OPEN-END FUND | Daiwa Bond Fund Series | 0.05 |
| Equity | OPEN-END FUND | Mirae Asset Australia | 0.00 |
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Source: MidLincoln Research Australia Outflows assclass | Type | prof | flow USD mln$ |
| Equity | OPEN-END FUND | Baring International | -4.50 |
| Equity | OPEN-END FUND | Australia Equity Income | -3.58 |
| Equity | ETF | iShares MSCI Australia | -2.12 |
| Equity | OPEN-END FUND | Baring International | -2.09 |
| Equity | ETF | iShares MSCI Australia | -1.07 |
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Source: MidLincoln Research Canada Inflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Canada - | 2.97 |
| Equity | ETF | iShares MSCI Canada Small-Cap | 0.00 |
| Equity | ETF | First Trust Canada AlphaDEX | 0.00 |
| Equity | ETF | iShares MSCI Canada ETF | -28.71 |
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Source: MidLincoln Research Canada Outflows assclass | Type | prof | flow USD mln$ |
| Equity | ETF | iShares MSCI Canada ETF | -28.71 |
| Equity | ETF | iShares MSCI Canada Small-Cap | 0.00 |
| Equity | ETF | First Trust Canada AlphaDEX | 0.00 |
| Equity | ETF | iShares MSCI Canada - | 2.97 |
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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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