Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | 0.55 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | 34.16 | |
| Commodities | PRECIOUS METALS | Commodity | 694.40 | |
| Commodities | PRECIOUS METALS | Mixed Allocation | -0.02 | |
| country | AUSTRALIA | Equity | 48.88 | |
| country | AUSTRALIA | Fixed Income | -1.03 | |
| country | AUSTRALIA | Mixed Allocation | 0.09 | |
| country | BRAZIL | Equity | 7.06 | |
| country | BRAZIL | Fixed Income | 601.08 | |
| country | CHINA | Equity | 1671.07 | |
| country | CHINA | Fixed Income | -62.41 | |
| country | INDIA | Equity | -206.50 | |
| country | INDIA | Fixed Income | -1.39 | |
| country | ISRAEL | Equity | 0.26 | |
| country | JAPAN | Equity | -25478.92 | |
| country | JAPAN | Fixed Income | 158.10 | |
| country | KOREA | Equity | 62.98 | |
| country | POLAND | Equity | 0.68 | |
| country | RUSSIA | Equity | 23.02 | |
| country | RUSSIA | Fixed Income | 1.74 | |
| country | SOUTH AFRICA | Equity | 0.71 | |
| country | SPAIN | Equity | -36.52 | |
| Country | TAIWAN | Equity | 1.00 | |
| country | TURKEY | Equity | -4.33 | |
| country | UNITED KINGDOM | Equity | 114.39 | |
| industry | BASIC MATERIALS SECTOR | Equity | -3.15 | |
| industry | COMMUNICATIONS SECTOR | Equity | 6.12 | |
| industry | ENERGY SECTOR | Equity | 151.89 | |
| industry | FINANCIAL SECTOR | Equity | -12.57 | |
| industry | HEALTH CARE SECTOR | Equity | -6.29 | |
| industry | INDUSTRIAL SECTOR | Equity | 0.05 | |
| industry | NATURAL RESOURCES SECTOR | Equity | -19.04 | |
| industry | REAL ESTATE SECTOR | Alternative | -0.91 | |
| industry | REAL ESTATE SECTOR | Equity | -24.03 | |
| industry | TECHNOLOGY SECTOR | Equity | -66.43 | |
| industry | UTILITIES SECTOR | Equity | 143.50 | |
| region | AFRICAN REGION | Equity | -21.24 | |
| region | ASIAN PACIFIC REGION | Equity | -115.67 | |
| region | ASIAN PACIFIC REGION | Fixed Income | 398.80 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | -408.10 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | -188.79 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0.00 | |
| region | EASTERN EUROPEAN REGION | Equity | 4.01 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | 2.50 | |
| region | EUROPEAN REGION | Equity | 960.46 | |
| region | EUROPEAN REGION | Fixed Income | 35.90 | |
| region | EUROPEAN REGION | Mixed Allocation | -0.03 | |
| region | LATIN AMERICAN REGION | Equity | 29.05 | |
| region | LATIN AMERICAN REGION | Fixed Income | -74.67 | |
| region | MIDDLE EAST REGION | Equity | 0.09 | |
| region | NORDIC REGION | Equity | -8.82 | |
| region | NORTH AMERICAN REGION | Equity | -15.60 | |
| region | NORTH AMERICAN REGION | Fixed Income | -0.46 | |
| Risk | GOVERNMENT BOND | Fixed Income | -40.71 | |
| Risk | GOVERNMENT BOND | Mixed Allocation | 0.00 | |
| Risk | INFLATION PROTECTED | Fixed Income | -270.16 | |
| Risk | LONG SHORT | Alternative | -49.73 | |
| Risk | LONG SHORT | Equity | -4252.73 | |
| Risk | LONG SHORT | Fixed Income | -4.30 | |
| Risk | LONG SHORT | Mixed Allocation | 0.00 | |
| Sector | AGRICULTURE | Commodity | 2.49 | |
| Sector | AGRICULTURE | Equity | 0.08 | |
| Sector | CONSUMER DISCRETIONARY | Equity | -44.56 | |
| Sector | CONSUMER STAPLES | Equity | -31.92 | |
| segment | BRIC | Equity | 0.77 | |
| segment | BRIC | Fixed Income | 0.15 | |
| segment | DEVELOPED MARKETS | Equity | 958.58 | |
| segment | EMEA | Equity | -0.73 | |
| segment | EMEA | Fixed Income | 0.46 | |
| segment | EMERGING MARKETS | Equity | -177.68 | |
| segment | GCC | Equity | 3.77 | |
| segment | GCC | Fixed Income | 0.00 | |
| segment | MENA | Equity | -2.04 | |
| segment | MENA | Fixed Income | -0.39 | |
| Size | LARGE-CAP | Equity | 4862.74 | |
| Size | MID-CAP | Commodity | -0.14 | |
| Size | MID-CAP | Equity | 266.16 | |
| Size | SMALL-CAP | Equity | -74.92 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed -177.7 USD mn of outflow.. While Frontier Markets funds showed 4.8 USD mn of inflows.
BRAZIL Equity funds showed 7.1 USD mn of inflow.
BRAZIL Fixed Income funds showed 601.1 USD mn of inflow.
CHINA Equity funds showed 1671.1 USD mn of inflow.
CHINA Fixed Income funds showed -62.4 USD mn of outflow.
INDIA Equity funds showed -206.5 USD mn of outflow.
INDIA Fixed Income funds showed -1.4 USD mn of outflow.
KOREA Equity funds showed 63.0 USD mn of inflow.
RUSSIA Equity funds showed 23.0 USD mn of inflow.
RUSSIA Fixed Income funds showed 1.7 USD mn of inflow.
SOUTH AFRICA Equity funds showed 0.7 USD mn of inflow.
TURKEY Equity funds showed -4.3 USD mn of outflow.
COMMUNICATIONS SECTOR Equity funds showed 6.1 USD mn of inflow.
ENERGY SECTOR Equity funds showed 151.9 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed -12.6 USD mn of outflow.
REAL ESTATE SECTOR Alternative funds showed -0.9 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -24.0 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed -66.4 USD mn of outflow.
UTILITIES SECTOR Equity funds showed 143.5 USD mn of inflow.
LONG SHORT Alternative funds showed -49.7 USD mn of outflow.
LONG SHORT Equity funds showed -4252.7 USD mn of outflow.
LONG SHORT Fixed Income funds showed -4.3 USD mn of outflow.
LONG SHORT Mixed Allocation funds showed 0.0 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 | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | 19.40 | |
| Equity | OTP Russia Equity Fund is an open-end investment | 13.46 | |
| Equity | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | 5.28 | |
| Equity | Raiffeisen-Russland-Aktien is an open end | 3.07 | |
| Fixed Income | DWS Russia Bond Fund is a "specialized" | 1.74 |
Russia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -8.52 | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -8.22 | |
| Equity | Shinhan BNPP Bonjour Russia Securities | -2.71 | |
| Equity | SEB Fund 2 - SEB Russia Fund is an FPC | -1.24 | |
| Equity | DWS Russia is an open-end investment fund | -1.00 |
Source: MidLincoln Research
China Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares Asia Trust - iShares FTSE A50 China | 99.99 | |
| Equity | iShares China Large-Cap ETF is an exchange-traded | 89.19 | |
| Equity | INVESCO PRC Equity Fund is a UCITS certified | 54.72 | |
| Equity | W.I.S.E. - CSI 300 China Tracker� is an index-tracking | 17.57 | |
| Equity | db x-trackers CSI300 Index UCITS ETF is a | 17.36 |
China Outflows
| assclass | profile | flow USD mln$ | |
| Equity | UBS (Lux) Equity Fund - China Opportunity | -99.99 | |
| Equity | HSBC Global Investment Funds - Chinese | -73.15 | |
| Equity | Hang Seng Investment Index Funds Series - | -65.19 | |
| Equity | CSOP FTSE China A50 ETF is an exchange-traded | -51.27 | |
| Equity | Robeco Chinese Equities is an open-end | -48.83 |
Source: MidLincoln Research
South Africa Inflows
| assclass | profile | flow USD mln$ | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.47 | |
| Equity | iShares MSCI South Africa UCITS ETF is an | 0.24 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 |
South Africa Outflows
| assclass | profile | flow USD mln$ | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 | |
| Equity | iShares MSCI South Africa UCITS ETF is an | 0.24 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.47 |
Source: MidLincoln Research
Korea Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI South Korea Capped ETF is an | 58.44 | |
| Equity | db x-trackers - MSCI Korea TRN Index UCITS | 6.37 | |
| Equity | KIM Investment Funds - Korea Navigator | 1.96 | |
| Equity | Deutsche X-trackers MSCI South Korea Hedged | 1.51 | |
| Equity | Amundi Funds - Equity Korea is a SICAV | 1.05 |
Korea Outflows
| assclass | profile | flow USD mln$ | |
| Equity | INVESCO Korean Equity Fund is a UCITS | -3.87 | |
| Equity | INVESCO Korean Equity Fund is a UCITS certified | -3.72 | |
| Equity | KIM Investment Funds - Korea Value Fund | -2.21 | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -0.71 | |
| Equity | HSBC Global Investment Funds - Korean Equity | -0.53 |
Source: MidLincoln Research
India Inflows
| assclass | profile | flow USD mln$ | |
| Equity | The Lyxor ETF MSCI India is a UCITS compliant | 47.55 | |
| Equity | HSBC Global Investment Funds - Indian Equity | 8.88 | |
| Equity | Morgan Stanley Investment Funds - Indian | 7.64 | |
| Equity | AMUNDI ETF MSCI INDIA UCITS ETF is a UCITS | 7.01 | |
| Equity | AllianceBernstein - India Growth Portfolio | 5.48 |
India Outflows
| assclass | profile | flow USD mln$ | |
| Equity | GS India Equity Portfolio is a Portfolio | -45.99 | |
| Equity | Pictet - Indian Equities is an open-end fund | -40.97 | |
| Equity | Invesco Funds SICAV - India Equity Fund is | -37.18 | |
| Equity | Jupiter JGF - India Select is an open-end | -35.44 | |
| Equity | Vontobel India Fund is an open-end fund | -19.41 |
Source: MidLincoln Research
Turkey Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | 8.33 | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | 0.30 | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -12.95 |
Turkey Outflows
| assclass | profile | flow USD mln$ | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -12.95 | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | 0.30 | |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | 8.33 |
Source: MidLincoln Research
Brazil Inflows
| 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 | 9.08 | |
| Equity | AMUNDI ETF MSCI BRAZIL is an exchange-traded | 1.54 | |
| Equity | NEXT FUNDS Ibovespa Linked Exchange Traded | 1.27 | |
| Equity | NEXT FUNDS Ibovespa Linked Exchange Traded | 1.24 |
Brazil Outflows
| assclass | profile | flow USD mln$ | |
| Equity | Fonditalia - Equity Brazil (F33) is an | -1.77 | |
| Equity | Fonditalia - Equity Brazil (F33) is an | -1.76 | |
| Equity | JPMorgan Funds - Brazil Equity is an open-end | -1.45 | |
| Equity | iShares MSCI Brazil UCITS ETF (Acc) is an | -1.18 | |
| Equity | JPMorgan Funds - Brazil Equity is an open-end | -1.15 |
Source: MidLincoln Research
Australia Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI Australia UCITS ETF is an open-end, | 23.40 | |
| Equity | Baring International Umbrella - Baring Australia | 13.38 | |
| Equity | Baring International Umbrella - Baring Australia | 7.55 | |
| Equity | Baring International Umbrella - Baring | 4.10 | |
| Equity | Candriam Equities L - Australia is a SICAV | 2.55 |
Australia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | Candriam Equities L - Australia is a SICAV | -2.30 | |
| Fixed Income | -1.17 | ||
| Equity | Australia Equity Income Fund is an open-end | -1.10 | |
| Equity | UBS (Lux) Equity Fund - Australia (AUD) | -0.13 | |
| Equity | First Trust Australia AlphaDEX Fund is an | -0.09 |
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