Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | 29.79 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | 2.47 | |
| country | AUSTRALIA | Equity | -16.03 | |
| country | AUSTRALIA | Fixed Income | -0.52 | |
| country | AUSTRALIA | Mixed Allocation | -0.02 | |
| country | BRAZIL | Equity | 14.68 | |
| country | BRAZIL | Fixed Income | 4.53 | |
| country | CHINA | Equity | -419.68 | |
| country | CHINA | Fixed Income | -81.40 | |
| country | INDIA | Equity | 114.29 | |
| country | INDIA | Fixed Income | 7.76 | |
| country | ISRAEL | Equity | 0.00 | |
| country | JAPAN | Equity | 55757.09 | |
| country | KOREA | Equity | 15.28 | |
| country | KOREA | Fixed Income | -0.01 | |
| country | POLAND | Equity | 5.78 | |
| country | RUSSIA | Equity | 28.06 | |
| country | RUSSIA | Fixed Income | -16.58 | |
| country | SOUTH AFRICA | Equity | 0.04 | |
| country | SPAIN | Equity | 9.16 | |
| country | TURKEY | Equity | 4.81 | |
| country | UNITED KINGDOM | Equity | -46.89 | |
| industry | BASIC MATERIALS SECTOR | Equity | -26.08 | |
| industry | COMMUNICATIONS SECTOR | Equity | 3.08 | |
| industry | ENERGY SECTOR | Equity | 224.04 | |
| industry | FINANCIAL SECTOR | Equity | 6.68 | |
| industry | HEALTH CARE SECTOR | Equity | 273.83 | |
| industry | INDUSTRIAL SECTOR | Equity | -6.45 | |
| industry | NATURAL RESOURCES SECTOR | Equity | 0.76 | |
| industry | REAL ESTATE SECTOR | Alternative | -0.11 | |
| industry | REAL ESTATE SECTOR | Asian Pacific Region | -0.16 | |
| industry | REAL ESTATE SECTOR | Equity | -600.80 | |
| industry | TECHNOLOGY SECTOR | Equity | 18.06 | |
| industry | UTILITIES SECTOR | Equity | 28.67 | |
| region | AFRICAN REGION | Equity | -6.69 | |
| region | AFRICAN REGION | Fixed Income | 0.00 | |
| region | ASIAN PACIFIC REGION | Equity | -23.37 | |
| region | ASIAN PACIFIC REGION | Fixed Income | 81.18 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | 105.05 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | 0.56 | |
| region | EASTERN EUROPEAN REGION | Equity | 2.29 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | 0.09 | |
| region | EUROPEAN REGION | Equity | 47.90 | |
| region | EUROPEAN REGION | Fixed Income | -42.13 | |
| region | EUROPEAN REGION | Mixed Allocation | -0.08 | |
| region | LATIN AMERICAN REGION | Equity | 82.60 | |
| region | LATIN AMERICAN REGION | Fixed Income | 5.69 | |
| region | MIDDLE EAST REGION | Equity | -0.09 | |
| region | NORDIC REGION | Equity | -9.19 | |
| region | NORTH AMERICAN REGION | Equity | 81.98 | |
| region | NORTH AMERICAN REGION | Fixed Income | 0.09 | |
| Risk | GOVERNMENT BOND | Fixed Income | -542.67 | |
| Risk | INFLATION PROTECTED | Fixed Income | 177.74 | |
| Risk | LONG SHORT | Alternative | 83.57 | |
| Risk | LONG SHORT | Equity | 2498.24 | |
| Risk | LONG SHORT | Fixed Income | 42.98 | |
| segment | BRIC | Equity | -47.60 | |
| segment | BRIC | Fixed Income | -0.37 | |
| segment | DEVELOPED MARKETS | Equity | 1757.38 | |
| segment | EMEA | Equity | -1.15 | |
| segment | EMERGING MARKETS | Equity | 186.86 | |
| segment | GCC | Equity | -0.41 | |
| segment | MENA | Equity | -0.15 | |
| segment | MENA | Fixed Income | 0.52 | |
| Size | LARGE-CAP | Equity | 5402.72 | |
| Size | MID-CAP | Equity | 195.82 | |
| Size | SMALL-CAP | Equity | 13.64 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed 186.9 USD mn of inflow. While Frontier Markets funds showed -0.4 USD mn of outflows.
BRAZIL Equity funds showed 14.7 USD mn of inflow.
BRAZIL Fixed Income funds showed 4.5 USD mn of inflow.
CHINA Equity funds showed -419.7 USD mn of outflow.
CHINA Fixed Income funds showed -81.4 USD mn of outflow.
INDIA Equity funds showed 114.3 USD mn of inflow.
INDIA Fixed Income funds showed 7.8 USD mn of inflow.
KOREA Equity funds showed 15.3 USD mn of inflow.
KOREA Fixed Income funds showed 0.0 USD mn of inflow.
RUSSIA Equity funds showed 28.1 USD mn of inflow.
RUSSIA Fixed Income funds showed -16.6 USD mn of outflow.
SOUTH AFRICA Equity funds showed 0.0 USD mn of inflow.
TURKEY Equity funds showed 4.8 USD mn of inflow.
COMMUNICATIONS SECTOR Equity funds showed 3.1 USD mn of inflow.
ENERGY SECTOR Equity funds showed 224.0 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed 6.7 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed -0.1 USD mn of outflow.
REAL ESTATE SECTOR Asian Pacific Region funds showed -0.2 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -600.8 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed 18.1 USD mn of inflow.
UTILITIES SECTOR Equity funds showed 28.7 USD mn of inflow.
LONG SHORT Alternative funds showed 83.6 USD mn of inflow.
LONG SHORT Equity funds showed 2498.2 USD mn of inflow.
LONG SHORT Fixed Income funds showed 43.0 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 | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | SEB Fund 2 - SEB Russia Fund is an FPC | 4.20 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Russia Fund is an open-end | 4.05 | |
| Equity | ETF | Direxion Daily Russia Bull 3x Shares is an | 3.76 | |
| Equity | OPEN-END FUND | East Capital Lux - Russian Fund is an open-end | 3.32 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | 2.95 |
Russia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Fixed Income | OPEN-END FUND | DWS Russia Bond Fund is a "specialized" | -11.53 | |
| Fixed Income | OPEN-END FUND | -1.86 | ||
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | -1.41 | |
| Equity | OPEN-END FUND | JPMorgan Russia Securities Feeder Investment | -0.94 | |
| Equity | OPEN-END FUND | JPMorgan Russia Equity Investment Trust | -0.49 |
Source: MidLincoln Research
China Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Chinese | 99.99 | |
| Equity | ETF | Hang Seng Investment Index Funds Series - | 91.37 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Chinese | 35.86 | |
| Fixed Income | OPEN-END FUND | Deutsche Invest I China Bonds is an open-end | 35.64 | |
| Fixed Income | OPEN-END FUND | Deutsche Invest I China Bonds is an open-end | 32.06 |
China Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | Hanwha Nest-Egg Dream China A Share SEcurities | ||
| Equity | ETF | iShares Asia Trust - iShares FTSE A50 China | -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 Equity | -56.72 | |
| Equity | ETF | db x-trackers Harvest CSI300 INDEX UCITS | -56.63 |
Source: MidLincoln Research
South Africa Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Africa ETF is an exchange-traded | 0.15 | |
| 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 | |
| Equity | ETF | 0.00 |
South Africa Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -0.11 | |
| 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 | |
| Equity | ETF | 0.00 |
Source: MidLincoln Research
Korea Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Korea Capped ETF is an | 7.71 | |
| Equity | OPEN-END FUND | KIM Investment Funds - Korea Value Fund | 5.30 | |
| Equity | OPEN-END FUND | INVESCO Korean Equity Fund is a UCITS certified | 2.08 | |
| Equity | ETF | Direxion Daily Korea Bull 3x Shares is an | 2.03 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Korean Equity | 1.50 |
Korea Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Dist) is an | -3.82 | |
| Equity | OPEN-END FUND | KIM Investment Funds - Korea Navigator | -2.26 | |
| Equity | FUND OF FUNDS | Baring Korea Feeder Fund is an open-end | -0.13 | |
| Equity | CLOSED-END FUND | Korea Equity Fund, Inc. is a non-diversified, | -0.05 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -0.04 |
Source: MidLincoln Research
India Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI India ETF is an exchange-traded | 52.00 | |
| Equity | ETF | WisdomTree India Earnings Fund is an exchange-traded | 21.78 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | 15.95 | |
| Equity | OPEN-END FUND | Kotak Funds - India Midcap Fund is a SICAV | 13.66 | |
| Equity | OPEN-END FUND | Matthews Asia Funds - India Fund is an | 7.62 |
India Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | Pictet - Indian Equities is an open-end | -13.15 | |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -12.39 | |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -5.20 | |
| Equity | OPEN-END FUND | Pictet - Indian Equities is an open-end fund | -3.74 | |
| Equity | OPEN-END FUND | Danske Invest - India is an open-end investment | -2.50 |
Source: MidLincoln Research
Turkey Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 3.80 | |
| Equity | ETF | iShares MSCI Turkey ETF is an exchange-traded | 1.01 |
Turkey Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Turkey ETF is an exchange-traded | 1.01 | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 3.80 |
Source: MidLincoln Research
Brazil Inflows
| assclass | Type | profile | flow USD mln$ | |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund is an open-end investment | 6.39 | |
| Equity | ETF | iShares MSCI Brazil Capped ETF is an exchange-traded | 5.19 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | 4.82 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | 4.08 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Brazil Equity is an | 3.89 |
Brazil Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Brazil Small-Cap ETF is an exchange-traded | -4.12 | |
| Equity | ETF | ProShares UltraShort MSCI Brazil Capped is short | -3.51 | |
| Equity | OPEN-END FUND | Shinhan BNP Bonjour Brazil Investment Trust | -1.29 | |
| Fixed Income | OPEN-END FUND | Santander FIC FI Renda Fixa I Credito Privado | -1.28 | |
| Equity | OPEN-END FUND | Deutsche Invest I Brazilian Equities is | -0.67 |
Source: MidLincoln Research
Australia Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Australia ETF is an exchange-traded | 9.88 | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring Australia | 2.27 | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring | 1.15 | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring | 0.93 | |
| Equity | OPEN-END FUND | NESTOR Australien Fonds is an open-end | 0.04 |
Australia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Australia UCITS ETF is an open-end, | -10.46 | |
| Equity | OPEN-END FUND | UBS (Lux) Equity Fund - Australia (AUD) | -6.56 | |
| Equity | ETF | iShares MSCI Australia UCITS ETF is an open-end, | -6.42 | |
| Equity | OPEN-END FUND | Australia Equity Income Fund is an open-end | -4.24 | |
| Equity | ETF | iShares MSCI Australia - B UCITS ETF is an | -3.57 |
Source: MidLincoln Research
Canada Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Canada ETF is an exchange-traded | 9.23 | |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | 0.00 | |
| 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 | -4.77 |
Canada Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | -4.77 | |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | 0.00 | |
| Equity | ETF | iShares MSCI Canada Small-Cap ETF is an exchange-traded | 0.00 | |
| Equity | ETF | iShares MSCI Canada ETF is an exchange-traded | 9.23 |
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