Weekly Strategy

April 13, 2015

MidLincoln Research

Aggregates for Funds

BIG Data Global Investment Strategy with focus on GEMs

Midlincoln Aggregates for funds

for week ending last Friday (inclusive)

                                      td style="font-size: 10px">CHINA
FocusObjectiveAsset ClassFlow USD mn
CommoditiesINDUSTRIAL METALSCommodity 1.48
CommoditiesPRECIOUS METAL SECTOREquity -0.78
countryAUSTRALIAEquity 0.01
countryBRAZILEquity -0.08
countryBRAZILFixed Income -0.43
countryEquity 136.67
countryCHINAFixed Income 0.85
countryINDIAEquity -5.75
countryJAPANEquity -5472.27
countryKOREAEquity -8.58
countryRUSSIA0-2.80
countryRUSSIAEquity 9.03
countrySOUTH AFRICAEquity 0.00
industryBASIC MATERIALS SECTOREquity 1.37
industryENERGY SECTOREquity 3.50
industryFINANCIAL SECTOREquity -0.12
industryHEALTH CARE SECTOR Equity 7.81
industryHEALTH CARE SECTOREquity 23.49
industryINDUSTRIAL SECTOREquity -0.06
industryNATURAL RESOURCES SECTOREquity -0.02
industryREAL ESTATE SECTOREquity 4.08
industryTECHNOLOGY SECTOREquity -4.08
industryUTILITIES SECTOREquity -3.25
regionAFRICAN REGIONEquity 0.00
regionASIAN PACIFIC REGIONEquity 7.90
regionASIAN PACIFIC REGIONFixed Income 7.02
regionASIAN PACIFIC REGION EX JAPANEqui ty 0.22
regionASIAN PACIFIC REGION EX JAPANEquity 0.39
regionASIAN PACIFIC REGION EX JAPANFixed Income 0.00
regionEASTERN EUROPEAN REGIONEquity -1.73
regionEUROPEAN REGIONEquity 199.81
regionLATIN AMERICAN REGIONEquity -2.28
regionMIDDLE EAST REGIONEquity 0.00
regionNORTH AMERICAN REGIONEquity -2.87
RiskGOVERNMENT BONDFix ed Income 0.58
RiskGOVERNMENT BONDFixed Income 96.85
RiskINFLATION PROTECTEDFixed Income -6.57
RiskLONG SHORTEquity -0.11
segmentBRICEquity -29.59
segmentEMEAEquity -0.81
segmentMENAEquity -0.93
SizeLARGE-CAPEquity -1194.02

                         

                                   

Source: Midlincoln Research

Fund Aggregates






. While Frontier Markets funds showed 0.0 USD mn of inflows.


BRAZIL Equity funds showed -0.1 USD mn of outflow.
BRAZIL Fixed Income funds showed -0.4 USD mn of outflow.
CHINA Equity funds showed 136.7 USD mn of inflow.
CHINA Fixed Income funds showed 0.8 USD mn of inflow.
INDIA Equity funds showed -5.8 USD mn of outflow.
KOREA Equity funds showed -8.6 USD mn of outflow.
RUSSIA 0 funds showed -2.8 USD mn of outflow.
RUSSIA Equity funds showed 9.0 USD mn of inflow.
SOUTH AFRICA Equity funds showed 0.0 USD mn of inflow.


ENERGY SECTOR Equity funds showed 3.5 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed -0.1 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed 4.1 USD mn of inflow.
TECHNOLOGY SECTOR Equity funds showed -4.1 USD mn of outflow.
UTILITIES SECTOR Equity funds showed -3.2 USD mn of outflow.


LONG SHORT Equity funds showed -0.1 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

assclassTypeprofileflow USD mln$
Equity OPEN-END FUND East Capital Lux - Russian Fund is an open-end55.20
Equity OPEN-END FUND SEB Fund 2 - SEB Russia Fund is an FPC18.51
Equity OPEN-END FUND SEB Fund 2 - SEB Russia Fund is an FPC16.75
Equity ETF Direxion Daily Russia Bear 3x Shares is an16.03
Equity ETF Market Vectors Russia ETF is an exchange-traded15.52

Russia Outflows

assclassTypeprofileflow USD mln$
Equity ETF Direxion Daily Russia Bull 3x Shares is an-24.24
Equity OPEN-END FUND JPMorgan Funds - Russia Fund is an open-end-9.38
Equity OPEN-END FUND HSBC Global Investment Funds - Russia Equity-4.71
Equity OPEN-END FUND JPMorgan Funds - Russia Fund is an open-end-4.08
Equity OPEN-END FUND JPMorgan Funds - Russia Fund is an open-end-4.05

Source: MidLincoln Research


China Inflows

assclassTypeprofileflow USD mln$
Equity ETF Hang Seng Investment Index Funds Series -99.99
Equity OPEN-END FUND Samsung CHINA2.0 Securities Feeder Investment66.30
Equity OPEN-END FUND Deutsche Invest I Chinese Equities is an52.40
Equity OPEN-END FUND Dongbu China Main Land Securities Feeder39.15
Equity OPEN-END FUND HSBC Global Investment Funds - Chinese Equity32.94

China Outflows

assclassTypeprofileflow USD mln$
Equity ETF CSOP FTSE China A50 ETF is an exchange-traded-99.99
Fixed Income OPEN-END FUND BNP Paribas Flexi IV Bond Medium Term RMB-99.99
Equity OPEN-END FUND HSBC Global Investment Funds - Chinese-99.99
Equity OPEN-END FUND HSBC Global Investment Funds - Chinese-88.39
Equity OPEN-END FUND JPMorgan Funds - China Fund is an open-end-62.00

Source: MidLincoln Research


South Africa Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI South Africa ETF is an exchange-traded12.74
Equity ETF iShares MSCI South Africa UCITS ETF is an0.13
Equity ETF NEXT FUNDS FTSE/JSE Africa Top40 Linked0.00
Equity ETF NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange0.00
Equity ETF iShares MSCI South Africa - B UCITS ETF is0.00

South Africa Outflows

assclassTypeprofileflow USD mln$
Equity ETF NEXT FUNDS FTSE/JSE Africa Top40 Linked0.00
Equity ETF NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange0.00
Equity ETF iShares MSCI South Africa - B UCITS ETF is0.00
Equity ETF iShares MSCI South Africa UCITS ETF is an0.13
Equity ETF iShares MSCI South Africa ETF is an exchange-traded12.74

Source: MidLincoln Research


Korea Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI South Korea Capped ETF is an69.94
Equity OPEN-END FUND JPMorgan Funds - Korea Equity is an open-end1.06
Equity OPEN-END FUND HSBC Global Investment Funds - Korean Equity0.68
Equity ETF iShares MSCI Korea UCITS ETF (Acc) is an0.51
Equity CLOSED-END FUND Korea Equity Fund, Inc. is a non-diversified,0.01

Korea Outflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Korea UCITS ETF (Acc) is an
Equity ETF Deutsche X-trackers MSCI South Korea Hedged-43.04
Equity OPEN-END FUND-7.65
Equity ETF iShares MSCI Korea UCITS ETF (Dist) is an-6.19
Equity ETF WisdomTree Korea Hedged Equity Fund is an-4.44

Source: MidLincoln Research


India Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI India ETF is an exchange-traded99.99
Equity OPEN-END FUND GS India Equity Portfolio is a Portfolio34.22
Equity OPEN-END FUND Kotak Funds - India Midcap Fund is a SICAV23.31
Equity OPEN-END FUND HSBC Global Investment Funds - Indian Equity23.15
Equity OPEN-END FUND HSBC Global Investment Funds - Indian Equity17.47

India Outflows

assclassTypeprofileflow USD mln$
Equity OPEN-END FUND JPMorgan Funds - India Fund is an open-end-15.38
Equity OPEN-END FUND Edmond De Rothschild India is an open-end-8.51
Equity ETF iPath MSCI India Index ETN is an exchange-traded-7.87
Equity OPEN-END FUND Edmond De Rothschild India is an open-end-6.69
Equity ETF Direxion Daily India Bull 3X Shares is an-5.44

Source: MidLincoln Research


Turkey Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Turkey ETF is an exchange-traded0.95
Equity ETF iShares MSCI Turkey UCITS ETF is an open-end,-0.25

Turkey Outflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Turkey UCITS ETF is an open-end,-0.25
Equity ETF iShares MSCI Turkey ETF is an exchange-traded0.95

Source: MidLincoln Research


Brazil Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Brazil Capped ETF is an exchange-traded28.58
Equity OPEN-END FUND HSBC Global Investment Funds - Brazil Equity5.77
Equity OPEN-END FUND Deutsche Invest I Brazilian Equities is an3.35
Equity ETF iShares MSCI Brazil UCITS ETF (Dist) is an3.05
Equity OPEN-END FUND JPMorgan Funds - Brazil Equity is an open-end1.89

Brazil Outflows

assclassTypeprofileflow USD mln$
Equity OPEN-END FUND HSBC Global Investment Funds - Brazil Equity-3.06
Equity ETF Direxion Daily Brazil Bull 3x Shares is an-2.32
Fixed Income OPEN-END FUND Santander FIC FI Renda Fixa I Credito Privado-1.68
Equity OPEN-END FUND SH BNPP Bonjour Great Emerging Securities-1.37
Equity OPEN-END FUND HSBC Global Investment Funds - Brazil Equity-0.70

Source: MidLincoln Research


Australia Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Australia UCITS ETF is an open-end,9.26
Equity OPEN-END FUND Australia Equity Income Fund is an open-end2.18
Equity OPEN-END FUND Baring International Umbrella - Baring Australia2.03
Equity ETF iShares MSCI Australia UCITS ETF is an open-end,1.41
Fixed Income OPEN-END FUND Daiwa Bond Fund Series - Monthly Dividend0.32

Australia Outflows

assclassTypeprofileflow USD mln$
Equity OPEN-END FUND Baring International Umbrella - Baring-1.64
Equity ETF iShares MSCI Australia ETF is an exchange-traded-0.63
Equity OPEN-END FUND NESTOR Australien Fonds is an open-end-0.03
Equity OPEN-END FUND UBS (Lux) Equity Fund - Australia (AUD)-0.01
Equity ETF WisdomTree Australia Dividend Fund is an0.00

Source: MidLincoln Research


Canada Inflows

assclassTypeprofileflow USD mln$
Equity ETF iShares MSCI Canada ETF is an exchange-traded35.91
Equity ETF iShares MSCI Canada UCITS ETF is an open-ended,2.66
Equity ETF iShares MSCI Canada Small-Cap ETF is an exchange-traded1.98
Equity ETF First Trust Canada AlphaDEX Fund is an exchange-traded0.00

Canada Outflows

assclassTypeprofileflow USD mln$
Equity ETF First Trust Canada AlphaDEX Fund is an exchange-traded0.00
Equity ETF iShares MSCI Canada Small-Cap ETF is an exchange-traded1.98
Equity ETF iShares MSCI Canada UCITS ETF is an open-ended,2.66
Equity ETF iShares MSCI Canada ETF is an exchange-traded35.91

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

 April 13, 2015· Midlincoln Research · midlincoln.com