Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | -20.94 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | 1.07 | |
| Commodities | PRECIOUS METALS | Commodity | 132.28 | |
| Commodities | PRECIOUS METALS | Mixed Allocation | -0.23 | |
| country | AUSTRALIA | Equity | 1.77 | |
| country | AUSTRALIA | Fixed Income | -1.48 | |
| country | AUSTRALIA | Mixed Allocation | -0.02 | |
| country | BRAZIL | Equity | -17.12 | |
| country | BRAZIL | Fixed Income | -293.16 | |
| country | CHINA | 0 | 0.32 | |
| country | CHINA | Equity | -265.69 | |
| country | CHINA | Fixed Income | -248.65 | |
| country | INDIA | Equity | 66.61 | |
| country | INDIA | Fixed Income | 4.14 | |
| country | ISRAEL | Equity | -0.22 | |
| country | JAPAN | 0 | 0.02 | |
| country | JAPAN | Equity | 51217.85 | |
| country | JAPAN | Fixed Income | 659.25 | |
| country | KOREA | Equity | 90.93 | |
| country | POLAND | Equity | 1.85 | |
| country | RUSSIA | Equity | 47.25 | |
| country | RUSSIA | Fixed Income | 0.00 | |
| country | SOUTH AFRICA | Equity | -0.32 | |
| country | SPAIN | Equity | -143.67 | |
| Country | TAIWAN | Equity | 7.67 | |
| country | TURKEY | Equity | 0.52 | |
| country | UNITED KINGDOM | Equity | -26.25 | |
| industry | BASIC MATERIALS SECTOR | Equity | 42.31 | |
| industry | COMMUNICATIONS SECTOR | Equity | 35.37 | |
| industry | ENERGY SECTOR | Equity | 16.41 | |
| industry | ENERGY SECTOR | Mixed Allocation | 0.42 | |
| industry | FINANCIAL SECTOR | Equity | 24.82 | |
| industry | HEALTH CARE SECTOR | 913Equity | -0.04 | |
| industry | HEALTH CARE SECTOR | Equity | 214.11 | |
| industry | INDUSTRIAL SECTOR | 0 | -0.06 | |
| industry | INDUSTRIAL SECTOR | Equity | -9.13 | |
| industry | MULTIPLE SECTOR | Equity | 0.00 | |
| industry | NATURAL RESOURCES SECTOR | Equity | 2.21 | |
| industry | REAL ESTATE SECTOR | Alternative | -0.04 | |
| industry | REAL ESTATE SECTOR | Equity | -163.26 | |
| industry | TECHNOLOGY SECTOR | 0 | -3.77 | |
| industry | TECHNOLOGY SECTOR | Equity | 60.14 | |
| industry | UTILITIES SECTOR | 0 | 1.71 | |
| industry | UTILITIES SECTOR | Equity | -18.52 | |
| region | AFRICAN REGION | Equity | 12.08 | |
| region | ASIAN PACIFIC REGION | 0 | -0.23 | |
| region | ASIAN PACIFIC REGION | Equity | 117.14 | |
| region | ASIAN PACIFIC REGION | Fixed Income | 21.46 | |
| region | ASIAN PACIFIC REGION EX JAPAN | 0 | -9.56 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | 244.68 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | -369.26 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0.82 | |
| region | EASTERN EUROPEAN REGION | 0 | -0.01 | |
| region | EASTERN EUROPEAN REGION | Equity | 8.63 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | 0.43 | |
| region | EUROPEAN REGION | 0 | 1.52 | |
| region | EUROPEAN REGION | Equity | 2299.86 | |
| region | EUROPEAN REGION | Fixed Income | 1027.39 | |
| region | EUROPEAN REGION | Mixed Allocation | 0.52 | |
| region | LATIN AMERICAN REGION | 0 | 0.00 | |
| region | LATIN AMERICAN REGION | Equity | -25.18 | |
| region | LATIN AMERICAN REGION | Fixed Income | -53.00 | |
| region | MIDDLE EAST REGION | Equity | 13.24 | |
| region | MIDDLE EAST REGION | Fixed Income | 0.51 | |
| region | NORDIC REGION | Equity | 6.66 | |
| region | NORTH AMERICAN REGION | Equity | 152.29 | |
| region | NORTH AMERICAN REGION | Fixed Income | 0.04 | |
| Risk | GOVERNMENT BOND | Fixed Income | 11.81 | |
| Risk | GOVERNMENT BOND | Mixed Allocation | -0.08 | |
| Risk | INFLATION PROTECTED | 0 | 0.06 | |
| Risk | INFLATION PROTECTED | Fixed Income | 467.64 | |
| Risk | LONG SHORT | Alternative | -4.83 | |
| Risk | LONG SHORT | Equity | -4424.42 | |
| Risk | LONG SHORT | Fixed Income | 9.12 | |
| Risk | LONG SHORT | Mixed Allocation | 0.23 | |
| Sector | AGRICULTURE | Commodity | -4.95 | |
| Sector | CONSUMER DISCRETIONARY | Eq90Duity | 0.11 | |
| Sector | CONSUMER DISCRETIONARY | Equity | -29.46 | |
| Sector | CONSUMER STAPLES | Equity | 93.49 | |
| segment | BRIC | Equity | -18.27 | |
| segment | BRIC | Fixed Income | -0.13 | |
| segment | DEVELOPED MARKETS | Equity | 1624.59 | |
| segment | EMEA | Equity | 0.08 | |
| segment | EMEA | Fixed Income | -0.08 | |
| segment | EMERGING MARKETS | Equity | 215.28 | |
| segment | GCC | Equity | -0.51 | |
| segment | GCC | Mixed Allocation | -0.01 | |
| segment | MENA | Equity | -0.48 | |
| segment | MENA | Fixed Income | -5.28 | |
| Size | LARGE-CAP | Equity | 5811.07 | |
| Size | MID-CAP | Commodity | 0.36 | |
| Size | MID-CAP | Equity | 538.62 | |
| Size | SMALL-CAP | Equity | 75.02 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed 215.3 USD mn of inflow. While Frontier Markets funds showed 7.9 USD mn of inflows.
BRAZIL Equity funds showed -17.1 USD mn of outflow.
BRAZIL Fixed Income funds showed -293.2 USD mn of outflow.
CHINA 0 funds showed 0.3 USD mn of inflow.
CHINA Equity funds showed -265.7 USD mn of outflow.
CHINA Fixed Income funds showed -248.6 USD mn of outflow.
INDIA Equity funds showed 66.6 USD mn of inflow.
INDIA Fixed Income funds showed 4.1 USD mn of inflow.
KOREA Equity funds showed 90.9 USD mn of inflow.
RUSSIA Equity funds showed 47.2 USD mn of inflow.
RUSSIA Fixed Income funds showed 0.0 USD mn of inflow.
SOUTH AFRICA Equity funds showed -0.3 USD mn of outflow.
TURKEY Equity funds showed 0.5 USD mn of inflow.
COMMUNICATIONS SECTOR Equity funds showed 35.4 USD mn of inflow.
ENERGY SECTOR Equity funds showed 16.4 USD mn of inflow.
ENERGY SECTOR Mixed Allocation funds showed 0.4 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed 24.8 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed 0.0 USD mn of inflow.
REAL ESTATE SECTOR Equity funds showed -163.3 USD mn of outflow.
TECHNOLOGY SECTOR 0 funds showed -3.8 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed 60.1 USD mn of inflow.
UTILITIES SECTOR 0 funds showed 1.7 USD mn of inflow.
UTILITIES SECTOR Equity funds showed -18.5 USD mn of outflow.
LONG SHORT Alternative funds showed -4.8 USD mn of outflow.
LONG SHORT Equity funds showed -4424.4 USD mn of outflow.
LONG SHORT Fixed Income funds showed 9.1 USD mn of inflow.
LONG SHORT Mixed Allocation funds showed 0.2 USD mn of inflow.
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
Top 5 fund winners and Top 5 losers by country by inflow
Russia Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Market Vectors Russia ETF is an exchange-traded | 59.10 | |
| Equity | HSBC Global Investment Funds - Russia Equity | 9.56 | |
| Equity | HSBC Global Investment Funds - Russia Equity | 8.24 | |
| Equity | East Capital Lux - Russian Fund is an open-end | 3.77 | |
| Equity | SEB Fund 2 - SEB Russia Fund is an FPC | 2.65 |
Russia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | -19.56 | |
| Equity | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | -16.30 | |
| Equity | Equity Russia Opportunities is an open-end | -3.77 | |
| Equity | Direxion Daily Russia Bull 3x Shares is an | -2.30 | |
| Equity | East Capital - Russian Fund is an open-end | -2.15 |
Source: MidLincoln Research
China Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Hang Seng Investment Index Funds Series - | 99.99 | |
| Equity | UBS (Lux) Equity Fund - China Opportunity | 33.34 | |
| Equity | HSBC Investment Funds Trust - HSBC China | 25.07 | |
| Equity | K China Equity Fund is an open-ended fund | 13.05 | |
| Equity | BOCIP China Value Fund is an open-end fund | 11.99 |
China Outflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares China Large-Cap ETF is an exchange-traded | -99.99 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | -62.20 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | -61.73 | |
| Equity | SPDR S&P China ETF is an exchange-traded | -59.04 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | -57.43 |
Source: MidLincoln Research
South Africa Inflows
| assclass | profile | flow USD mln$ | |
| Equity | The RBS Market Access FTSE/JSE Africa Top40 | 0.13 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 | |
| Equity | iShares MSCI South Africa UCITS ETF is an | -0.44 |
South Africa Outflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI South Africa UCITS ETF is an | -0.44 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 | |
| Equity | The RBS Market Access FTSE/JSE Africa Top40 | 0.13 |
Source: MidLincoln Research
Korea Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI South Korea Capped ETF is an | 54.24 | |
| Equity | INVESCO Korean Equity Fund is a UCITS | 18.49 | |
| Equity | Deutsche X-trackers MSCI South Korea Hedged | 6.22 | |
| Equity | db x-trackers - MSCI Korea TRN Index UCITS | 4.70 | |
| Equity | Lyxor ETF MSCI Korea is a UCITS compliant | 1.77 |
Korea Outflows
| assclass | profile | flow USD mln$ | |
| Equity | HSBC Global Investment Funds - Korean Equity | -0.36 | |
| Equity | Amundi Funds - Equity Korea is a SICAV | -0.21 | |
| Equity | Amundi Funds - Equity Korea is a SICAV | -0.16 | |
| Equity | First Trust South Korea AlphaDEX Fund is | -0.07 | |
| Equity | KIM Investment Funds - Korea Navigator | -0.06 |
Source: MidLincoln Research
India Inflows
| assclass | profile | flow USD mln$ | |
| Equity | GS India Equity Portfolio is a Portfolio | 25.01 | |
| Equity | WisdomTree India Earnings Fund is an exchange-traded | 15.60 | |
| Equity | AMUNDI ETF MSCI INDIA UCITS ETF is a UCITS | 9.79 | |
| Equity | Edmond De Rothschild India is an open-end | 8.90 | |
| Equity | Edmond De Rothschild India is an open-end | 8.81 |
India Outflows
| assclass | profile | flow USD mln$ | |
| Equity | HSBC Global Investment Funds - Indian Equity | -30.79 | |
| Equity | db x-trackers CNX Nifty UCITS ETF is a UCITS | -8.27 | |
| Equity | AllianceBernstein - India Growth Portfolio | -2.59 | |
| Equity | AllianceBernstein - India Growth Portfolio | -2.58 | |
| Equity | AllianceBernstein - India Growth Portfolio | -2.57 |
Source: MidLincoln Research
Turkey Inflows
| assclass | profile | flow USD mln$ | |
| Equity | The RBS Market Access Dow Jones Turkey Titans | 0.41 | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | 0.10 |
Turkey Outflows
| assclass | profile | flow USD mln$ | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | 0.10 | |
| Equity | The RBS Market Access Dow Jones Turkey Titans | 0.41 |
Source: MidLincoln Research
Brazil Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Fonditalia - Equity Brazil (F33) is an | 1.34 | |
| Equity | Fonditalia - Equity Brazil (F33) is an | 1.32 | |
| Equity | Bradesco Global Funds - Brazilian Equities | 0.58 | |
| Equity | iShares MSCI Brazil UCITS ETF (Acc) is an | 0.54 | |
| Fixed Income | HSBC Global Investment Funds - Brazil Bond | 0.38 |
Brazil Outflows
| assclass | profile | flow USD mln$ | |
| Fixed Income | Fondo Mutuo Security Fixed Income BRL is | -99.99 | |
| Equity | Lyxor ETF Brazil (Ibovespa) USD is an exchange | -5.90 | |
| Equity | iShares MSCI Brazil UCITS ETF (Dist) is an | -4.44 | |
| Fixed Income | UBS (Lux) Bond Sicav - Brazil is an open-end | -4.07 | |
| Equity | db x-trackers - MSCI Brazil TRN Index UCITS | -2.75 |
Source: MidLincoln Research
Australia Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Candriam Equities L - Australia is a SICAV | 5.71 | |
| Equity | Baring International Umbrella - Baring Australia | 2.00 | |
| Equity | SSgA Australia Index Equity Fund is an | 1.68 | |
| Equity | Baring International Umbrella - Baring | 0.17 | |
| Equity | db x-trackers S&P/ASX 200 UCITS ETF (DR) | 0.13 |
Australia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | Australia Equity Income Fund is an open-end | -4.64 | |
| Equity | iShares MSCI Australia UCITS ETF is an open-end, | -2.29 | |
| Fixed Income | -1.46 | ||
| Equity | UBS (Lux) Equity Fund - Australia (AUD) is | -0.38 | |
| Equity | NESTOR Australien Fonds is an open-end | -0.24 |
Source: MidLincoln Research
Canada Inflows
Canada Outflows
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