Midlincoln Aggregates for funds for week ending last Friday (inclusive)
Focus | Objective | Asset Class | Flow USD mn | | Commodities | INDUSTRIAL METALS | Commodity | -0.03 | | Commodities | PRECIOUS METAL SECTOR | Equity | 1.64 | | Commodities | PRECIOUS METALS | Commodity | -0.99 | | country | AUSTRALIA | Equity | 3.61 | | country | BRAZIL | Equity | 10.66 | | country | CHINA | Equity | 7.33 | | country | CHINA | Fixed Income | -43.01 | | country | JAPAN | Equity | -15.53 | | country | KOREA | Equity | -5.69 | | country | RUSSIA | Equity | 0.79 | | country | SPAIN | Equity | 6.27 | | country | UNITED KINGDOM | Equity | 6.75 | | industry | BASIC MATERIALS SECTOR | Equity | 0.35 | | industry | ENERGY SECTOR | Equity | 10.18 | | industry | HEALTH CARE SECTOR | Equity | 1.97 | | industry | INDUSTRIAL SECTOR | Equity | 1.24 | | industry | NATURAL RESOURCES SECTOR | Equity | 1.03 | | industry | REAL ESTATE SECTOR | Equity | 77.83 | | industry | TECHNOLOGY SECTOR | Equity | -0.61 | | industry | UTILITIES SECTOR | Equity | -12.67 | | region | AFRICAN REGION | Equity | 0.30 | | region | ASIAN PACIFIC REGION | Equity | -0.37 | | region | ASIAN PACIFIC REGION EX JAPAN | Equity | 0.02 | | region | EASTERN EUROPEAN REGION | Equity | -0.01 | | region | EUROPEAN REGION | Equity | -0.71 | | region | EUROPEAN REGION | Fixed Income | -3.93 | | region | LATIN AMERICAN REGION | Equity | 4.98 | | region | NORTH AMERICAN REGION | Equity | 1.67 | | Risk | GOVERNMENT BOND | Fixed Income | 5.56 | | Risk | INFLATION PROTECTED | Fixed Income | -0.17 | | Risk | LONG SHORT | Alternative | 1.41 | | Risk | LONG SHORT | Equity | -28.80 | | Sector | AGRICULTURE | Commodity | 0.03 | | Sector | CONSUMER DISCRETIONARY | Equity | -2.28 | | segment | BRIC | Equity | 0.00 | | segment | DEVELOPED MARKETS | Equity | -3.00 | | segment | EMERGING MARKETS | Equity | 52.86 | | segment | MENA | Equity | -1.41 | | segment | MENA | Fixed Income | -1.32 | | Size | LARGE-CAP | Equity | 17.24 | | Size | MID-CAP | Equity | 0.18 | | Size | SMALL-CAP | Equity | -17.89 | |
Source: Midlincoln Research
Fund Aggregates
Chart: Emerging Markets Funds - Outflows LessEmerging Markets Total Fund FLows still in negative zone, but equities show small inflow. Source:
Emerging markets fund flow showed 52.9 USD mn of inflow. While Frontier Markets funds showed USD mn of inflows.
BRAZIL Equity funds showed 10.7 USD mn of inflow. CHINA Equity funds showed 7.3 USD mn of inflow. CHINA Fixed Income funds showed -43.0 USD mn of outflow. KOREA Equity funds showed -5.7 USD mn of outflow. RUSSIA Equity funds showed 0.8 USD mn of inflow.
ENERGY SECTOR Equity funds showed 10.2 USD mn of inflow. REAL ESTATE SECTOR Equity funds showed 77.8 USD mn of inflow. TECHNOLOGY SECTOR Equity funds showed -0.6 USD mn of outflow. UTILITIES SECTOR Equity funds showed -12.7 USD mn of outflow.
LONG SHORT Alternative funds showed 1.4 USD mn of inflow. LONG SHORT Equity funds showed -28.8 USD mn of outflow.
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 |
LYXOR ETF RUSSIA Dow Jones Russia GDR - D | 8.12 | | Equity |
iShares MSCI Russia Capped ETF is an exchange-traded | -0.49 | | Equity |
Direxion Daily Russia Bull 3x Shares is an | -6.84 | |
Russia Outflows assclass | profile | flow USD mln$ | | Equity |
Direxion Daily Russia Bull 3x Shares is an | -6.84 | | Equity |
iShares MSCI Russia Capped ETF is an exchange-traded | -0.49 | | Equity |
LYXOR ETF RUSSIA Dow Jones Russia GDR - D | 8.12 | |
Source: MidLincoln Research
China Inflows assclass | profile | flow USD mln$ | | Equity |
db x-trackers HSI Short Index UCITS ETF is short | 4.51 | | Equity |
Guggenheim China Small Cap Index ETF is an | 2.93 | | Equity |
Guggenheim China All-Cap ETF is an exchange-traded | 0.28 | | Equity |
W.I.S.E.SSE 50 China Tracker� is an index-tracking | -0.39 | | Fixed Income |
Deutsche Invest I China Bonds is an open-end | -13.41 | |
China Outflows assclass | profile | flow USD mln$ | | Fixed Income |
Deutsche Invest I China Bonds is an open-end | -14.93 | | Fixed Income |
Deutsche Invest I China Bonds is an open-end | -14.68 | | Fixed Income |
Deutsche Invest I China Bonds is an open-end | -13.41 | | Equity |
W.I.S.E.SSE 50 China Tracker� is an index-tracking | -0.39 | | Equity |
Guggenheim China All-Cap ETF is an exchange-traded | 0.28 | |
Source: MidLincoln Research
South Africa Inflows
South Africa Outflows Source: MidLincoln Research
Korea Inflows assclass | profile | flow USD mln$ | | Equity |
db x-trackers - MSCI Korea TRN Index | -5.69 | |
Korea Outflows assclass | profile | flow USD mln$ | | Equity |
db x-trackers - MSCI Korea TRN Index | -5.69 | |
Source: MidLincoln Research
India Inflows
India Outflows Source: MidLincoln Research
Turkey Inflows
Turkey Outflows Source: MidLincoln Research
Brazil Inflows assclass | profile | flow USD mln$ | | Equity |
iShares MSCI Brazil UCITS ETF (Dist) is an | 10.66 | |
Brazil Outflows assclass | profile | flow USD mln$ | | Equity |
iShares MSCI Brazil UCITS ETF (Dist) is an | 10.66 | |
Source: MidLincoln Research
Australia Inflows assclass | profile | flow USD mln$ | | Equity |
Lyxor ETF Australia (S&P ASX 200)-A is an | 3.61 | |
Australia Outflows assclass | profile | flow USD mln$ | | Equity |
Lyxor ETF Australia (S&P ASX 200)-A is an | 3.61 | |
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 research@midlincoln.com
February 23, 2016· Midlincoln Research · midlincoln.com
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