Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | -5.53 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | 73.70 | |
| Commodities | PRECIOUS METAL SECTOR | Mixed Allocation | 0.01 | |
| Commodities | PRECIOUS METALS | Commodity | 91.52 | |
| Commodities | PRECIOUS METALS | Mixed Allocation | -0.19 | |
| country | AUSTRALIA | Equity | 16.67 | |
| country | AUSTRALIA | Fixed Income | -1.04 | |
| country | AUSTRALIA | Mixed Allocation | -0.06 | |
| country | BRAZIL | Equity | -18.45 | |
| country | BRAZIL | Fixed Income | 8.78 | |
| country | CHINA | Equity | -1118.95 | |
| country | CHINA | Fixed Income | -37.42 | |
| country | INDIA | Equity | -463.82 | |
| country | INDIA | Fixed Income | 2.00 | |
| country | ISRAEL | Equity | -0.76 | |
| country | JAPAN | Equity | -50726.30 | |
| country | JAPAN | Fixed Income | 334.13 | |
| country | KOREA | Equity | -36.79 | |
| country | POLAND | Equity | -0.43 | |
| country | RUSSIA | Equity | 37.09 | |
| country | RUSSIA | Fixed Income | 0.71 | |
| country | SOUTH AFRICA | Equity | 1.12 | |
| country | SPAIN | Equity | 38.44 | |
| Country | TAIWAN | Equity | -5.85 | |
| country | TURKEY | Equity | -19.65 | |
| country | UNITED KINGDOM | Equity | -123.14 | |
| industry | BASIC MATERIALS SECTOR | Equity | -0.30 | |
| industry | COMMUNICATIONS SECTOR | Equity | -30.88 | |
| industry | ENERGY SECTOR | Equity | 258.77 | |
| industry | FINANCIAL SECTOR | Equity | 43.65 | |
| industry | HEALTH CARE SECTOR | 913Equity | 0.63 | |
| industry | HEALTH CARE SECTOR | Equity | 78.00 | |
| industry | INDUSTRIAL SECTOR | Equity | -4.66 | |
| industry | MULTIPLE SECTOR | Equity | 0.00 | |
| industry | NATURAL RESOURCES SECTOR | Equity | -132.47 | |
| industry | REAL ESTATE SECTOR | Alternative | -2.01 | |
| industry | REAL ESTATE SECTOR | Equity | -200.51 | |
| industry | TECHNOLOGY SECTOR | Equity | -78.02 | |
| industry | UTILITIES SECTOR | Equity | 238.37 | |
| region | AFRICAN REGION | Equity | -38.64 | |
| region | ASIAN PACIFIC REGION | Equity | -139.38 | |
| region | ASIAN PACIFIC REGION | Fixed Income | -174.83 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | -726.45 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | 85.19 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0.05 | |
| region | EASTERN EUROPEAN REGION | Equity | -9.22 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | -1.74 | |
| region | EUROPEAN REGION | Equity | -2351.78 | |
| region | EUROPEAN REGION | Fixed Income | -491.86 | |
| region | EUROPEAN REGION | Mixed Allocation | -0.03 | |
| region | LATIN AMERICAN REGION | Equity | -53.06 | |
| region | LATIN AMERICAN REGION | Fixed Income | -4.09 | |
| region | MIDDLE EAST REGION | Equity | -69.96 | |
| region | MIDDLE EAST REGION | Fixed Income | 0.35 | |
| region | NORDIC REGION | Equity | -27.92 | |
| region | NORTH AMERICAN REGION | Equity | 271.91 | |
| region | NORTH AMERICAN REGION | Fixed Income | -0.59 | |
| Risk | GOVERNMENT BOND | Fixed Income | -156.61 | |
| Risk | GOVERNMENT BOND | Mixed Allocation | 0.00 | |
| Risk | INFLATION PROTECTED | Brazil | 0.05 | |
| Risk | INFLATION PROTECTED | Fixed Income | 115.82 | |
| Risk | LONG SHORT | Alternative | 93.29 | |
| Risk | LONG SHORT | Equity | 336.43 | |
| Risk | LONG SHORT | Fixed Income | 2.64 | |
| Risk | LONG SHORT | Mixed Allocation | 0.80 | |
| Sector | AGRICULTURE | Commodity | -8.70 | |
| Sector | AGRICULTURE | Equity | 0.02 | |
| Sector | CONSUMER DISCRETIONARY | Equity | -69.09 | |
| Sector | CONSUMER STAPLES | Equity | -6.32 | |
| segment | BRIC | Equity | -16.25 | |
| segment | BRIC | Fixed Income | 0.14 | |
| segment | DEVELOPED MARKETS | Equity | -442.42 | |
| segment | EMEA | Equity | -0.41 | |
| segment | EMEA | Fixed Income | 0.71 | |
| segment | EMERGING MARKETS | Equity | -1270.15 | |
| segment | GCC | Equity | -4.09 | |
| segment | GCC | Fixed Income | 1.60 | |
| segment | GCC | Mixed Allocation | -0.01 | |
| segment | MENA | Equity | 5.34 | |
| segment | MENA | Fixed Income | -2.35 | |
| Size | LARGE-CAP | Equity | 9136.59 | |
| Size | MID-CAP | Commodity | 0.21 | |
| Size | MID-CAP | Equity | -616.48 | |
| Size | SMALL-CAP | Equity | 39.30 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed -1270.1 USD mn of outflow.. While Frontier Markets funds showed -3.6 USD mn of outflows.
BRAZIL Equity funds showed -18.5 USD mn of outflow.
BRAZIL Fixed Income funds showed 8.8 USD mn of inflow.
CHINA Equity funds showed -1118.9 USD mn of outflow.
CHINA Fixed Income funds showed -37.4 USD mn of outflow.
INDIA Equity funds showed -463.8 USD mn of outflow.
INDIA Fixed Income funds showed 2.0 USD mn of inflow.
KOREA Equity funds showed -36.8 USD mn of outflow.
RUSSIA Equity funds showed 37.1 USD mn of inflow.
RUSSIA Fixed Income funds showed 0.7 USD mn of inflow.
SOUTH AFRICA Equity funds showed 1.1 USD mn of inflow.
TURKEY Equity funds showed -19.6 USD mn of outflow.
COMMUNICATIONS SECTOR Equity funds showed -30.9 USD mn of outflow.
ENERGY SECTOR Equity funds showed 258.8 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed 43.6 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed -2.0 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -200.5 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed -78.0 USD mn of outflow.
UTILITIES SECTOR Equity funds showed 238.4 USD mn of inflow.
LONG SHORT Alternative funds showed 93.3 USD mn of inflow.
LONG SHORT Equity funds showed 336.4 USD mn of inflow.
LONG SHORT Fixed Income funds showed 2.6 USD mn of inflow.
LONG SHORT Mixed Allocation funds showed 0.8 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 | OTP Russia Equity Fund is an open-end investment | 67.93 | |
| Equity | iShares MSCI Russi a ADR/GDR UCITS ETF | 25.09 | |
| Equity | Direxion Daily Russia Bull 3x Shares is an | 22.57 | |
| Equity | Equity Russia Opportunities is an open-end | 17.70 | |
| Equity | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | 12.26 |
Russia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | Market Vectors Russia ETF is an exchange-traded | -46.43 | |
| Equity | HSBC Global Investment Funds - Russia Equity | -14.73 | |
| Equity | East Capital - Russian Fund is an open-end | -11.53 | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -9.65 | |
| Equity | JPMorgan Funds - Russia Fund is an open-end | -8.65 |
Source: MidLincoln Research
China Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Hang Seng Investment Index Funds Series - | 99.99 | |
| Equity | ChinaAMC ETF Series - ChinaAMC CSI 300 Index | 99.99 | |
| Equity | W.I.S.E. - CSI 300 China Tracker� is an index-tracking | 61.16 | |
| Equity | Fuh Hwa CSI 300 A Shares ETF is an exchange-traded | 22.96 | |
| Equity | AssetPlus China Rich Together Securities | 21.36 |
China Outflows
| assclass | profile | flow USD mln$ | |
| Equity | CSOP FTSE China A50 ETF is an exchange-traded | -99.99 | |
| Equity | Deutsche X-trackers Harvest CSI 300 China | -99.99 | |
| Equity | INVESCO PRC Equity Fund is a UCITS certified | -99.99 | |
| Equity | iShares China Large-Cap ETF is an exchange-traded | -90.59 | |
| Equity | HSBC Global Investment Funds - Chinese | -87.00 |
Source: MidLincoln Research
South Africa Inflows
| assclass | profile | flow USD mln$ | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 1.03 | |
| Equity | The RBS Market Access FTSE/JSE Africa Top40 | 0.10 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | -0.01 |
South Africa Outflows
| assclass | profile | flow USD mln$ | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | -0.01 | |
| Equity | The RBS Market Access FTSE/JSE Africa Top40 | 0.10 | |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 1.03 |
Source: MidLincoln Research
Korea Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Korea Equity Fund, Inc. is a non-diversified, | 8.01 | |
| Equity | Deutsche X-trackers MSCI South Korea Hedged | 7.35 | |
| Equity | KIM Investment Funds - Korea Navigator | 1.50 | |
| Equity | INVESCO Korean Equity Fund is a UCITS certified | 1.22 | |
| Equity | NEXT NOTES F-KOSPI200 Inverse ETN is an Exchange | 0.08 |
Korea Outflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI South Korea Capped ETF is an | -15.33 | |
| Equity | INVESCO Korean Equity Fund is a UCITS | -10.84 | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -5.20 | |
| Equity | Lyxor ETF MSCI Korea is a UCITS compliant | -4.25 | |
| Equity | JPMorgan Funds - Korea Equity is an open-end | -3.97 |
Source: MidLincoln Research
India Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Morgan Stanley India Investment Fund, Inc. | 52.60 | |
| Equity | Natixis International Funds Lux I - IDFC | 2.99 | |
| Equity | Shinhan BNPP Bonjour India Securities Master | 2.27 | |
| Equity | Baring Investment Funds - India Fund is | 1.86 | |
| Fixed Income | K Debt Opportunities Fund Ltd is an open-end | 1.58 |
India Outflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI India ETF is an exchange-traded | -55.79 | |
| Equity | AllianceBernstein - India Growth Portfolio | -43.19 | |
| Equity | Comgest Growth PLC - Comgest Growth India | -41.75 | |
| Equity | WisdomTree India Earnings Fund is an exchange-traded | -40.54 | |
| Equity | Jupiter JGF - India Select is an open-end | -38.40 |
Source: MidLincoln Research
Turkey Inflows
| assclass | profile | flow USD mln$ | |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | -0.05 | |
| Equity | The RBS Market Access Dow Jones Turkey Titans | -0.13 | |
| Equity | DJ TURKEY TITANS 20 THEAM EASY UCITS ETF | -0.14 | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | -0.16 | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -19.16 |
Turkey Outflows
| assclass | profile | flow USD mln$ | |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -19.16 | |
| Equity | db x-trackers MSCI Turkey Index UCITS ETF | -0.16 | |
| Equity | DJ TURKEY TITANS 20 THEAM EASY UCITS ETF | -0.14 | |
| Equity | The RBS Market Access Dow Jones Turkey Titans | -0.13 | |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | -0.05 |
Source: MidLincoln Research
Brazil Inflows
| assclass | profile | flow USD mln$ | |
| Fixed Income | DWS Brazil Bond Fund is an open-end investment | 6.95 | |
| Equity | Direxion Daily Brazil Bull 3x Shares is an | 5.29 | |
| Equity | Lyxor ETF Brazil (Ibovespa) USD is an exchange | 4.15 | |
| Fixed Income | HSBC Global Investment Funds - Brazil Bond | 2.82 | |
| Equity | AMUNDI ETF MSCI BRAZIL is an exchange-traded | 1.79 |
Brazil Outflows
| assclass | profile | flow USD mln$ | |
| Equity | HSBC Global Investment Funds - Brazil Equity | -7.40 | |
| Equity | iShares MSCI Brazil UCITS ETF (Acc) is an | -4.58 | |
| Equity | db x-trackers - MSCI Brazil TRN Index UCITS | -2.89 | |
| Equity | iShares MSCI Brazil UCITS ETF (Dist) is an | -2.87 | |
| Equity | JPMorgan Funds - Brazil Equity is an open-end | -2.34 |
Source: MidLincoln Research
Australia Inflows
| assclass | profile | flow USD mln$ | |
| Equity | Candriam Equities L - Australia is a SICAV | 15.23 | |
| Equity | Candriam Equities L - Australia is a SICAV | 14.20 | |
| Equity | iShares MSCI Australia UCITS ETF is an open-end, | 14.08 | |
| Equity | db x-trackers S&P/ASX 200 UCITS ETF (DR) | 0.63 | |
| Fixed Income | ZKB-CIF I Australia Govt. Bond Index is | 0.42 |
Australia Outflows
| assclass | profile | flow USD mln$ | |
| Equity | UBS (Lux) Equity Fund - Australia (AUD) is | -10.88 | |
| Equity | UBS (Lux) Equity Fund - Australia (AUD) | -6.18 | |
| Equity | Australia Equity Income Fund is an open-end | -5.25 | |
| Equity | WisdomTree Australia Dividend Fund is an | -2.65 | |
| Fixed Income | -1.61 |
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