Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | -7.14 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | -22.37 | |
| Commodities | PRECIOUS METALS | Commodity | -477.29 | |
| Commodities | PRECIOUS METALS | Mixed Allocation | -0.21 | |
| country | AUSTRALIA | Equity | 6.56 | |
| country | AUSTRALIA | Fixed Income | 0.37 | |
| country | AUSTRALIA | Mixed Allocation | 0.05 | |
| country | BRAZIL | Equity | -0.67 | |
| country | BRAZIL | Fixed Income | 2421.51 | |
| country | CHINA | Equity | -409.57 | |
| country | CHINA | Fixed Income | 630.43 | |
| country | INDIA | Equity | 184.57 | |
| country | INDIA | Fixed Income | 3.48 | |
| country | ISRAEL | Equity | -0.15 | |
| country | JAPAN | Equity | 65514.86 | |
| country | JAPAN | Fixed Income | 503.24 | |
| country | KOREA | Equity | 62.19 | |
| country | POLAND | Equity | 0.73 | |
| country | RUSSIA | Equity | -13.42 | |
| country | RUSSIA | Fixed Income | -0.03 | |
| country | SOUTH AFRICA | Equity | 0.00 | |
| country | SPAIN | Equity | 13.46 | |
| Country | TAIWAN | Equity | 8.64 | |
| country | TURKEY | Equity | -14.95 | |
| country | UNITED KINGDOM | Equity | 35.90 | |
| industry | BASIC MATERIALS SECTOR | Equity | -1.53 | |
| industry | COMMUNICATIONS SECTOR | Equity | 30.26 | |
| industry | ENERGY SECTOR | Equity | -268.53 | |
| industry | FINANCIAL SECTOR | Equity | 40.15 | |
| industry | HEALTH CARE SECTOR | 913Equity | -0.34 | |
| industry | HEALTH CARE SECTOR | Equity | 197.65 | |
| industry | INDUSTRIAL SECTOR | Equity | -5.41 | |
| industry | MULTIPLE SECTOR | Equity | 0.00 | |
| industry | NATURAL RESOURCES SECTOR | Equity | -63.53 | |
| industry | REAL ESTATE SECTOR | Alternative | -0.45 | |
| industry | REAL ESTATE SECTOR | Equity | -101.78 | |
| industry | TECHNOLOGY SECTOR | Equity | 116.50 | |
| industry | UTILITIES SECTOR | Equity | -48.45 | |
| region | AFRICAN REGION | Equity | 2.64 | |
| region | ASIAN PACIFIC REGION | Equity | 75.84 | |
| region | ASIAN PACIFIC REGION | Fixed Income | -40.91 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | 224.82 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | 244.09 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | -4.95 | |
| region | EASTERN EUROPEAN REGION | Equity | -8.51 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | -2.41 | |
| region | EUROPEAN REGION | Equity | 1693.01 | |
| region | EUROPEAN REGION | Fixed Income | -636.30 | |
| region | EUROPEAN REGION | Mixed Allocation | 0.05 | |
| region | LATIN AMERICAN REGION | Equity | 51.17 | |
| region | LATIN AMERICAN REGION | Fixed Income | 225.52 | |
| region | MIDDLE EAST REGION | Equity | 0.62 | |
| region | MIDDLE EAST REGION | Fixed Income | 0.63 | |
| region | NORDIC REGION | Equity | -2.41 | |
| region | NORTH AMERICAN REGION | Equity | -136.74 | |
| region | NORTH AMERICAN REGION | Fixed Income | -0.38 | |
| Risk | GOVERNMENT BOND | Fixed Income | -55.14 | |
| Risk | GOVERNMENT BOND | Mixed Allocation | 0.08 | |
| Risk | INFLATION PROTECTED | Fixed Income | -10.80 | |
| Risk | LONG SHORT | Alternative | -47.06 | |
| Risk | LONG SHORT | Equity | -1119.61 | |
| Risk | LONG SHORT | Fixed Income | 6.98 | |
| Risk | LONG SHORT | Mixed Allocation | 0.51 | |
| Sector | AGRICULTURE | Commodity | 0.09 | |
| Sector | AGRICULTURE | Equity | 0.05 | |
| Sector | CONSUMER DISCRETIONARY | Equity | 26.94 | |
| Sector | CONSUMER STAPLES | Equity | 59.98 | |
| segment | BRIC | Equity | -3.40 | |
| segment | BRIC | Fixed Income | 0.10 | |
| segment | DEVELOPED MARKETS | Equity | 368.58 | |
| segment | EMEA | Equity | 0.27 | |
| segment | EMEA | Fixed Income | 1.92 | |
| segment | EMERGING MARKETS | Equity | 516.55 | |
| segment | GCC | Equity | -0.25 | |
| segment | GCC | Mixed Allocation | 0.00 | |
| segment | MENA | Equity | -0.94 | |
| segment | MENA | Fixed Income | -9.45 | |
| Size | LARGE-CAP | Equity | -4942.12 | |
| Size | MID-CAP | Commodity | 0.21 | |
| Size | MID-CAP | Equity | 44.92 | |
| Size | SMALL-CAP | Equity | 83.89 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed 516.5 USD mn of inflow. While Frontier Markets funds showed 2.3 USD mn of inflows.
BRAZIL Equity funds showed -0.7 USD mn of outflow.
BRAZIL Fixed Income funds showed 2421.5 USD mn of inflow.
CHINA Equity funds showed -409.6 USD mn of outflow.
CHINA Fixed Income funds showed 630.4 USD mn of inflow.
INDIA Equity funds showed 184.6 USD mn of inflow.
INDIA Fixed Income funds showed 3.5 USD mn of inflow.
KOREA Equity funds showed 62.2 USD mn of inflow.
RUSSIA Equity funds showed -13.4 USD mn of outflow.
RUSSIA Fixed Income funds showed 0.0 USD mn of inflow.
SOUTH AFRICA Equity funds showed 0.0 USD mn of inflow.
TURKEY Equity funds showed -14.9 USD mn of outflow.
COMMUNICATIONS SECTOR Equity funds showed 30.3 USD mn of inflow.
ENERGY SECTOR Equity funds showed -268.5 USD mn of outflow.
FINANCIAL SECTOR Equity funds showed 40.1 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed -0.5 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -101.8 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed 116.5 USD mn of inflow.
UTILITIES SECTOR Equity funds showed -48.5 USD mn of outflow.
LONG SHORT Alternative funds showed -47.1 USD mn of outflow.
LONG SHORT Equity funds showed -1119.6 USD mn of outflow.
LONG SHORT Fixed Income funds showed 7.0 USD mn of inflow.
LONG SHORT Mixed Allocation funds showed 0.5 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 - D | 7.22 | |
| Equity | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | 4.82 | |
| Equity | Market Vectors Russia ETF is an exchange-traded | 2.62 | |
| Equity | db x-trackers MSCI Russia Capped Index UCITS | 2.43 | |
| Equity | Raiffeisen-Russland-Aktien is an open end | 0.95 |
Russia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | HSBC Global Investment Funds - Russia Equity | -5.80 | |
| Equity | Equity Russia Opportunities is an open-end | -5.41 | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -5.19 | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -4.24 | |
| Equity | SEB Fund 2 - SEB Russia Fund is an FPC | -3.23 |
Source: MidLincoln Research
China Inflows
| assclass | profile | flow USD mln$ | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | 99.99 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | 99.99 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | 99.99 | |
| Fixed Income | Deutsche Invest I China Bonds is an open-end | 99.99 | |
| Equity | iShares China Large-Cap ETF is an exchange-traded | 88.88 |
China Outflows
| assclass | profile | flow USD mln$ | |
| Equity | CSOP FTSE China A50 ETF is an exchange-traded | -99.99 | |
| Equity | ChinaAMC ETF Series - ChinaAMC CSI 300 Index | -99.99 | |
| Equity | UBS (Lux) Institutional Sicav II - China | -63.39 | |
| Equity | UBS (Lux) Institutional Sicav II - China | -63.35 | |
| Equity | UBS (CAY) China A Opportunity is an exempted | -47.46 |
Source: MidLincoln Research
South Africa Inflows
| assclass | profile | flow USD mln$ | |
| 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 |
Source: MidLincoln Research
Korea Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI South Korea Capped ETF is an | 25.10 | |
| Equity | INVESCO Korean Equity Fund is a UCITS certified | 13.37 | |
| Equity | INVESCO Korean Equity Fund is a UCITS | 13.34 | |
| Equity | db x-trackers - MSCI Korea TRN Index UCITS | 6.92 | |
| Equity | HSBC Global Investment Funds - Korean Equity | 2.17 |
Korea Outflows
| assclass | profile | flow USD mln$ | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -0.52 | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -0.44 | |
| Equity | Baring Korea Feeder Fund is an open-end | -0.31 | |
| Equity | Amundi Funds - Equity Korea is a SICAV | -0.09 | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -0.07 |
Source: MidLincoln Research
India Inflows
| assclass | profile | flow USD mln$ | |
| Equity | GS India Equity Portfolio is a Portfolio | 96.91 | |
| Equity | The Lyxor ETF MSCI India is a UCITS compliant | 31.78 | |
| Equity | iShares MSCI India ETF is an exchange-traded | 30.96 | |
| Equity | WisdomTree India Earnings Fund is an exchange-traded | 27.67 | |
| Equity | Amundi Funds - Equity India is a SICAV | 12.58 |
India Outflows
| assclass | profile | flow USD mln$ | |
| Equity | HSBC Global Investment Funds - Indian Equity | -19.47 | |
| Equity | HSBC Global Investment Funds - Indian Equity | -11.82 | |
| Equity | Fidelity India Securities Feeder Investment | -8.00 | |
| Equity | Fidelity India Equity Fund is an open-end | -3.90 | |
| Equity | Aberdeen India Growth Fund is an open-end | -3.09 |
Source: MidLincoln Research
Turkey Inflows
| assclass | profile | flow USD mln$ | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -14.95 |
Turkey Outflows
| assclass | profile | flow USD mln$ | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -14.95 |
Source: MidLincoln Research
Brazil Inflows
| assclass | profile | flow USD mln$ | |
| Fixed Income | Fondo Mutuo Security Fixed Income BRL is | 99.99 | |
| Equity | Fondo Mutuo IM Trust Acciones Estrategicas | 1.34 | |
| Fixed Income | UBS (Lux) Bond Sicav - Brazil is an open-end | 0.47 | |
| Fixed Income | HSBC Global Investment Funds - Brazil Bond | 0.41 | |
| Equity | Mirae Asset Index Ro Brazil Securities | 0.01 |
Brazil Outflows
| assclass | profile | flow USD mln$ | |
| Equity | Shinhan BNPP The Dream Brazil Equity Investment | -0.52 | |
| Equity | Bradesco Global Funds - Brazilian Equities | -0.47 | |
| Equity | SH BNPP Bonjour Great Emerging Securities | -0.32 | |
| Equity | KB Brazil Securities Feeder Investment | -0.14 | |
| Equity | Mirae Asset Brazil Industry Representative | -0.13 |
Source: MidLincoln Research
Australia Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Candriam Equities L - Australia is a SICAV | 5.92 | |
| Equity | UBS (Lux) Equity Fund - Australia (AUD) is | 4.08 | |
| Equity | db x-trackers S&P/ASX 200 UCITS ETF (DR) | 1.30 | |
| Equity | SmartMOZY is an exchange traded fund listed | 0.54 | |
| Equity | WisdomTree Australia Dividend Fund is an | 0.43 |
Australia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI Australia UCITS ETF is an open-end, | -2.67 | |
| Equity | Candriam Equities L - Australia is a SICAV | -1.28 | |
| Equity | Baring International Umbrella - Baring Australia | -0.87 | |
| Equity | Baring International Umbrella - Baring | -0.59 | |
| Equity | Baring International Umbrella - Baring Australia | -0.43 |
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