Weekly Strategy

February 23, 2016

MidLincoln Research

Aggregates for Funds

BIG Data Global Investment Strategy with focus on GEMs

Midlincoln Aggregates for funds

for week ending last Friday (inclusive)

                                     
FocusObjectiveAsset ClassFlow USD mn
CommoditiesINDUSTRIAL METALSCommodity-0.03
CommoditiesPRECIOUS METAL SECTOREquity1.64
CommoditiesPRECIOUS METALSCommodity-0.99
countryAUSTRALIAEquity3.61
countryBRAZILEquity10.66
countryCHINAEquity7.33
countryCHINAFixed Income-43.01
countryJAPANEquity-15.53
countryKOREAEquity-5.69
countryRUSSIAEquity0.79
countrySPAINEquity6.27
countryUNITED KINGDOMEquity6.75
industryBASIC MATERIALS SECTOREquity0.35
industryENERGY SECTOREquity10.18
industryHEALTH CARE SECTOREquity1.97
industryINDUSTRIAL SECTOREquity1.24
industryNATURAL RESOURCES SECTOREquity1.03
industryREAL ESTATE SECTOREquity77.83
industryTECHNOLOGY SECTOREquity-0.61
industryUTILITIES SECTOREquity-12.67
regionAFRICAN REGIONEquity0.30
regionASIAN PACIFIC REGIONEquity-0.37
regionASIAN PACIFIC REGION EX JAPANEquity0.02
regionEASTERN EUROPEAN REGIONEquity-0.01
regionEUROPEAN REGIONEquity-0.71
regionEUROPEAN REGIONFixed Income-3.93
regionLATIN AMERICAN REGIONEquity4.98
regionNORTH AMERICAN REGIONEquity1.67
RiskGOVERNMENT BONDFixed Income5.56
RiskINFLATION PROTECTEDFixed Income-0.17
RiskLONG SHORTAlternative1.41
RiskLONG SHORTEquity-28.80
SectorAGRICULTURECommodity0.03
SectorCONSUMER DISCRETIONARYEquity-2.28
segmentBRICEquity0.00
segmentDEVELOPED MARKETSEquity-3.00
segmentEMERGING MARKETSEquity52.86
segmentMENAEquity-1.41
segmentMENAFixed Income-1.32
SizeLARGE-CAPEquity17.24
SizeMID-CAPEquity0.18
SizeSMALL-CAPEquity-17.89

                         

                                   

Source: Midlincoln Research

Fund Aggregates



Chart: Emerging Markets Funds - Outflows Less

Emerging 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

assclassprofileflow USD mln$
Equity LYXOR ETF RUSSIA Dow Jones Russia GDR - D8.12
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

assclassprofileflow 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 - D8.12

Source: MidLincoln Research


China Inflows

assclassprofileflow USD mln$
Equity db x-trackers HSI Short Index UCITS ETF is short4.51
Equity Guggenheim China Small Cap Index ETF is an2.93
Equity Guggenheim China All-Cap ETF is an exchange-traded0.28
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

assclassprofileflow 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-traded0.28

Source: MidLincoln Research


South Africa Inflows


South Africa Outflows

Source: MidLincoln Research


Korea Inflows

assclassprofileflow USD mln$
Equity db x-trackers - MSCI Korea TRN Index-5.69

Korea Outflows

assclassprofileflow 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

assclassprofileflow USD mln$
Equity iShares MSCI Brazil UCITS ETF (Dist) is an10.66

Brazil Outflows

assclassprofileflow USD mln$
Equity iShares MSCI Brazil UCITS ETF (Dist) is an10.66

Source: MidLincoln Research


Australia Inflows

assclassprofileflow USD mln$
Equity Lyxor ETF Australia (S&P ASX 200)-A is an3.61

Australia Outflows

assclassprofileflow USD mln$
Equity Lyxor ETF Australia (S&P ASX 200)-A is an3.61

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