Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | 8.25 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | 18.89 | |
| country | AUSTRALIA | Equity | -7.00 | |
| country | AUSTRALIA | Fixed Income | 0.67 | |
| country | AUSTRALIA | Mixed Allocation | 0.00 | |
| country | BRAZIL | Equity | -159.20 | |
| country | BRAZIL | Fixed Income | 0.16 | |
| country | 0 | |||
| country | CHINA | Equity | -789.59 | |
| country | CHINA | Fixed Income | -15.32 | |
| country | INDIA | Equity | -48.30 | |
| country | INDIA | Fixed Income | 19.62 | |
| country | ISRAEL | Equity | -3.77 | |
| country | JAPAN | Equity | 12566.13 | |
| country | JAPAN | Fixed Income | 0.01 | |
| country | KOREA | Equity | 0.47 | |
| country | KOREA | Fixed Income | 0.00 | |
| country | POLAND | Equity | -0.59 | |
| country | RUSSIA | Equity | -77.43 | |
| country | RUSSIA | Fixed Income | 4.85 | |
| country | SOUTH AFRICA | Equity | 0.06 | |
| country | SPAIN | Equity | 43.47 | |
| country | TURKEY | Equity | -0.81 | |
| country | UNITED KINGDOM | Equity | -6189.62 | |
| industry | BASIC MATERIALS SECTOR | Equity | -33.80 | |
| industry | COMMUNICATIONS SECTOR | Equity | -149.39 | |
| industry | ENERGY SECTOR | Equity | -26.68 | |
| industry | FINANCIAL SECTOR | Equity | 0.98 | |
| industry | HEALTH CARE SECTOR | Equity | 156.02 | |
| industry | INDUSTRIAL SECTOR | Equity | -24.60 | |
| industry | MULTIPLE SECTOR | Equity | 0.00 | |
| industry | NATURAL RESOURCES SECTOR | Equity | -4.63 | |
| industry | REAL ESTATE SECTOR | Alternative | -0.17 | |
| industry | REAL ESTATE SECTOR | Equity | -161.01 | |
| industry | TECHNOLOGY SECTOR | Equity | -1.56 | |
| industry | UTILITIES SECTOR | Equity | 8.53 | |
| region | AFRICAN REGION | Equity | -1.26 | |
| region | AFRICAN REGION | Fixed Income | -0.01 | |
| region | ASIAN PACIFIC REGION | Equity | -360.84 | |
| region | ASIAN PACIFIC REGION | Fixed Income | 27.05 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | -182.99 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | -0.93 | |
| region | EASTERN EUROPEAN REGION | Equity | -15.69 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | -0.48 | |
| region | EUROPEAN REGION | Equity | 2640.42 | |
| region | EUROPEAN REGION | Fixed Income | 727.17 | |
| region | LATIN AMERICAN REGION | Equity | -1.85 | |
| region | LATIN AMERICAN REGION | Fixed Income | -2.88 | |
| region | MIDDLE EAST REGION | Equity | -0.10 | |
| region | NORDIC REGION | Equity | -18.35 | |
| region | NORTH AMERICAN REGION | Equity | -137.11 | |
| region | NORTH AMERICAN REGION | Fixed Income | -0.01 | |
| Risk | GOVERNMENT BOND | Fixed Income | -45.33 | |
| Risk | INFLATION PROTECTED | Fixed Income | 23.22 | |
| Risk | LONG SHORT | Alternative | 7.54 | |
| Risk | LONG SHORT | Equity | 1121.27 | |
| Risk | LONG SHORT | Fixed Income | 8.67 | |
| segment | BRIC | Equity | -34.08 | |
| segment | BRIC | Fixed Income | -0.37 | |
| segment | DEVELOPED MARKETS | Equity | 434.74 | |
| segment | EMEA | Equity | -0.89 | |
| segment | EMERGING MARKETS | Equity | -1041.46 | |
| segment | GCC | Equity | -0.14 | |
| segment | MENA | Equity | -0.96 | |
| segment | MENA | Fixed Income | -2.07 | |
| Size | LARGE-CAP | Equity | 5321.16 | |
| Size | MID-CAP | Equity | -573.44 | |
| Size | SMALL-CAP | Equity | 183.16 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed -1041.5 USD mn of outflow.. While Frontier Markets funds showed -20.6 USD mn of outflows.
BRAZIL Equity funds showed -159.2 USD mn of outflow.
BRAZIL Fixed Income funds showed 0.2 USD mn of inflow.
CHINA Equity funds showed -789.6 USD mn of outflow.
CHINA Fixed Income funds showed -15.3 USD mn of outflow.
INDIA Equity funds showed -48.3 USD mn of outflow.
INDIA Fixed Income funds showed 19.6 USD mn of inflow.
KOREA Equity funds showed 0.5 USD mn of inflow.
KOREA Fixed Income funds showed 0.0 USD mn of inflow.
RUSSIA Equity funds showed -77.4 USD mn of outflow.
RUSSIA Fixed Income funds showed 4.8 USD mn of inflow.
SOUTH AFRICA Equity funds showed 0.1 USD mn of inflow.
TURKEY Equity funds showed -0.8 USD mn of outflow.
COMMUNICATIONS SECTOR Equity funds showed -149.4 USD mn of outflow.
ENERGY SECTOR Equity funds showed -26.7 USD mn of outflow.
FINANCIAL SECTOR Equity funds showed 1.0 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed -0.2 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -161.0 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed -1.6 USD mn of outflow.
UTILITIES SECTOR Equity funds showed 8.5 USD mn of inflow.
LONG SHORT Alternative funds showed 7.5 USD mn of inflow.
LONG SHORT Equity funds showed 1121.3 USD mn of inflow.
LONG SHORT Fixed Income funds showed 8.7 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 | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | JPMorgan Funds - Russia Fund is an open-end | 17.04 | |
| Equity | OPEN-END FUND | Equity Russia Opportunities is an open-end | 7.39 | |
| Equity | OPEN-END FUND | Equity Russia Opportunities is an open-end | 6.73 | |
| Equity | ETF | Market Vectors Russia ETF is an exchange-traded | 5.69 | |
| Fixed Income | OPEN-END FUND | DWS Russia Bond Fund is a "specialized" | 3.23 |
Russia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | |||
| Equity | ETF | db x-trackers MSCI Russia Capped Index UCITS | -81.42 | |
| Equity | ETF | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | -21.87 | |
| Equity | ETF | Direxion Daily Russia Bull 3x Shares is an | -14.08 | |
| Equity | ETF | iShares MSCI Russia Capped ETF is an exchange-traded | -10.38 |
Source: MidLincoln Research
China Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | KB China Mainland A Shares Securities Feeder | 99.99 | |
| Equity | OPEN-END FUND | Robeco Chinese Equities is an open-end investment | 96.52 | |
| Equity | OPEN-END FUND | KB China Mainland A Shares Securities Master | 85.70 | |
| Equity | OPEN-END FUND | Dongbu China Main Land Securities Feeder | 61.88 | |
| Equity | OPEN-END FUND | Edmond De Rothschild Chinagora is an open-end | 40.73 |
China Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | BOCHK Investment Funds - China Equity is | ||
| Equity | ETF | Guggenheim China All-Cap ETF is an exchange-traded | ||
| Equity | ETF | CSOP FTSE China A50 ETF is an exchange-traded | -99.99 | |
| Equity | ETF | iShares Asia Trust - iShares FTSE A50 China | -99.99 | |
| Equity | ETF | db x-trackers MSCI CHINA TRN INDEX UCITS | -99.99 |
Source: MidLincoln Research
South Africa Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | 0.06 | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | 0.02 | |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 | |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.00 | |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
South Africa Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | The Lyxor South Africa ETF is a UCITS compliant | -0.61 | |
| Equity | ETF | iShares MSCI South Africa ETF is an exchange-traded | -0.02 | |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 | |
| Equity | ETF | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.00 | |
| Equity | ETF | iShares MSCI South Africa - B UCITS ETF is | 0.00 |
Source: MidLincoln Research
Korea Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Kor 00001A12 ea Capped | 14.62 | |
| Equity | ETF | iShares MSCI South Korea Capped ETF is an | 3.94 | |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Dist) is an | 2.12 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | 1.79 | |
| Equity | ETF | Lyxor ETF MSCI Korea is an Exchange Traded | 1.28 |
Korea Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | Deutsche X-trackers MSCI South Korea Hedged | -13.20 | |
| Equity | OPEN-END FUND | INVESCO Korean Equity Fund is a UCITS certified | -3.46 | |
| Equity | ETF | db x-trackers - MSCI Korea TRN Index UCITS | -3.34 | |
| Equity | FUND OF FUNDS | Baring Korea Feeder Fund is an open-end | -1.89 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -1.60 |
Source: MidLincoln Research
India Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI India ETF is an exchange-traded | 37.29 | |
| Equity | OPEN-END FUND | GS India Equity Portfolio is a Portfolio | 17.89 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | 14.73 | |
| Equity | OPEN-END FUND | Kotak Funds - India Midcap Fund is a SICAV | 9.14 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | 8.96 |
India Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | db x-trackers MSCI INDIA TRN INDEX UCITS | -99.99 | |
| Equity | OPEN-END FUND | Emerging India Focus Funds - HEF Feeder | -39.24 | |
| Equity | OPEN-END FUND | Jupiter JGF - India Select is an open-end | -33.02 | |
| Equity | OPEN-END FUND | Jupiter JGF - India Select is an open-end | -23.90 | |
| Equity | ETF | Lyxor ETF MSCI India is a UCITS compliant | -10.87 |
Source: MidLincoln Research
Turkey Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | db x-trackers MSCI Turkey Index UCITS ETF | 0.10 | |
| Equity | ETF | HSBC MSCI TURKEY UCITS ETF is an open-end, | 0.00 | |
| Equity | ETF | The Lyxor ETF Turkey (DJ Turkey Titans 20) | 0.00 | |
| Equity | ETF | UBS ETF - MSCI Turkey UCITS ETF is an exchange | 0.00 | |
| Equity | ETF | HSBC MSCI TURKEY UCITS ETF is an open -end, | -0.01 |
Turkey Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | -4.33 | ||
| Equity | ETF | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -3.95 | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | -0.80 | |
| Equity | ETF | HSBC MSCI TURKEY UCITS ETF is an open -end, | -0.01 | |
| Equity | ETF | iShares MSCI Turkey ETF is an exchange-traded | -0.01 |
Source: MidLincoln Research
Brazil Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | Lyxor ETF Brazil (Ibovespa) USD is an exchange | 2.74 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Brazil Equity is an open-end | 2.59 | |
| Equity | ETF | Lyxor ETF Brazil (Ibovespa) USD is an exch ange | 2.20 | |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund is an open-end investment | 1.57 | |
| Equity | ETF | db x-trackers - MSCI Brazil TRN Index | 1.07 |
Brazil Outflows
| assclass | Type | profile | flow USD mln$ | |
| Fixed Income | OPEN-END FUND | UBS (Lux) Bond Sicav - Brazil is an open-end | ||
| Equity | ETF | iShares MSCI Brazil Capped ETF is an exchange-traded | -99.99 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | -9.59 | |
| Equity | ETF | db x-trackers - MSCI Brazil TRN Index UCITS | -6.77 | |
| Equity | ETF | ProShares UltraShort MSCI Brazil Capped is short | -5.43 |
Source: MidLincoln Research
Australia Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring Australia | 2.29 | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring | 1.90 | |
| Equity | OPEN-END FUND | Candriam Equities L - Australia is a SICAV | 1.11 | |
| Fixed Income | OPEN-END FUND | 1.08 | ||
| Equity | ETF | db x-trackers S&P/ASX 200 UCITS ETF (DR) | 0.61 |
Australia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Australia ETF is an exchange-traded | -4.70 | |
| Equity | OPEN-END FUND | Australia Equity Income Fund is an open-end | -4.04 | |
| Equity | ETF | iShares MSCI Australia UCITS ETF is an open-end, | -3.73 | |
| Equity | ETF | The Lyxor ETF S&P ASX 200 is an open-ended | -1.10 | |
| Equity | ETF | iShares MSCI Australia ETF is an exchange-traded | -0.80 |
Source: MidLincoln Research
Canada Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | UBS ETF - MSCI Canada UCITS ETF is an exchange | 71.04 | |
| Equity | ETF | db x-trackers MSCI Canada TRN Index UCITS | 0.30 | |
| Equity | ETF | iShares MSCI Canada Small-Cap ETF is an exchange-traded | 0.00 | |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | 0.00 | |
| Equity | ETF | Lyxor ETF Canada (S&P TSX 60)-A is an open-ended | 0.00 |
Canada Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | 000019DF iShares MSCI Canada ETF is an | -26.00 | |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | -10.37 | |
| Equity | ETF | The UBS ETFs plc - MSCI Canada SF UCITS ETF | -1.81 | |
| Equity | ETF | iShares MSCI Canada ETF is an exchange-traded | -0.78 | |
| Equity | ETF | HSBC MSCI Canada UCITS ETF is an exchange-traded | -0.33 |
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