Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn | |
| Commodities | INDUSTRIAL METALS | Commodity | 11.23 | |
| Commodities | PRECIOUS METAL SECTOR | Equity | -1.34 | |
| country | AUSTRALIA | Equity | -3.54 | |
| country | AUSTRALIA | Fixed Income | -0.75 | |
| country | BRAZIL | Equity | -26.02 | |
| country | BRAZIL | Fixed Income | -2.29 | |
| country | CHINA | Equity | -51.44 | |
| country | CHINA | Fixed Income | -8.64 | |
| country | INDIA | Equity | 3.71 | |
| country | INDIA | Fixed Income | 9.00 | |
| country | JAPAN | Equity | 55096.51 | |
| country | KOREA | Equity | 19.93 | |
| country | KOREA | Fixed Income | 0.00 | |
| country | POLAND | Equity | 3.88 | |
| country | RUSSIA | Equity | -11.68 | |
| country | RUSSIA | Fixed Inco me | -5.61 | |
| country | RUSSIA | Fixed Income | -1.87 | |
| country | SOUTH AFRICA | Equity | -2.16 | |
| country | TURKEY | Equity | 5.44 | |
| country | UNITED KINGDOM | Equity | 31.75 | |
| industry | BASIC MATERIALS SECTOR | Equity | 14.86 | |
| industry | COMMUNICATIONS SECTOR | Equity | -2.88 | |
| industry | ENERGY SECTOR | Equity | -23.97 | |
| industry | FINANCIAL SECTOR | Equity | 21.62 | |
| industry | HEALTH CARE SECTOR | Equity | 155.67 | |
| industry | INDUSTRIAL SECTOR | Equity | -0.04 | |
| industry | NATURAL RESOURCES SECTOR | Equity | -4.28 | |
| industry | REAL ESTATE SECTOR | Equity | -29.82 | |
| industry | TECHNOLOGY SECTOR | Equity | 16.72 | |
| industry | UTILITIES SECTOR | Equity | 21.92 | |
| region | AFRICAN REGION | Equity | -29.77 | |
| region | AFRICAN REGION | Fixed Income | 0.00 | |
| region | ASIAN PACIFIC REGION | Equity | -93.40 | |
| region | ASIAN PACIFIC REGION | Fixed Income | -51.26 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | 28.91 | |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | 0.09 | |
| region | EASTERN EUROPEAN REGION | Equity | 100.00 | |
| region | EASTERN EUROPEAN REGION | Fixed Income | 5.61 | |
| region | EUROPEAN REGION | Equity | 1200.86 | |
| region | EUROPEAN REGION | Fixed Income | 630.29 | |
| region | EUROPEAN REGION | Mixed Allocation | -0.01 | |
| region | LATIN AMERICAN REGION | Equity | -46.09 | |
| region | LATIN AMERICAN REGION | Fixed Income | -3.92 | |
| region | MIDDLE EAST REGION | Equity | -0.14 | |
| region | NORDIC REGION | Equity | 12.70 | |
| region | NORTH AMERICAN REGION | Equity | -139.86 | |
| region | NORTH AMERICAN REGION | Fixed Income | -0.07 | |
| Risk | GOVERNMENT BOND | Fixed Income | -103.73 | |
| Risk | INFLATION PROTECTED | Equity | 0.00 | |
| Risk | INFLATION PROTECTED | Fixed Inc ome | -0.48 | |
| Risk | INFLATION PROTECTED | Fixed Income | 412.69 | |
| Risk | LONG SHORT | Alternative | 8.70 | |
| Risk | LONG SHORT | Equity | 5606.23 | |
| Risk | LONG SHORT | Fixed Income | 23.32 | |
| segment | BRIC | Equity | -34.39 | |
| segment | DEVELOPED MARKETS | Equity | 225.66 | |
| segment | EMEA | Equity | 0.09 | |
| segment | Emerging Markets | Equity | 80.22 | |
| segment | GCC | Equity | -0.40 | |
| segment | MENA | Equity | -19.72 | |
| segment | MENA | Fixed Income | -24.45 | |
| Size | LARGE-CAP | Equity | 1578.21 | |
| Size | MID-CAP | Equity | -0.91 | |
| Size | SMALL-CAP | Equity | -8.33 |
Source: Midlincoln Research
Fund Aggregates
Emerging markets fund flow showed 80.2 USD mn of inflow. While Frontier Markets funds showed 0.0 USD mn of inflows.
BRAZIL Equity funds showed -26.0 USD mn of outflow.
BRAZIL Fixed Income funds showed -2.3 USD mn of outflow.
CHINA Equity funds showed -51.4 USD mn of outflow.
CHINA Fixed Income funds showed -8.6 USD mn of outflow.
INDIA Equity funds showed 3.7 USD mn of inflow.
INDIA Fixed Income funds showed 9.0 USD mn of inflow.
KOREA Equity funds showed 19.9 USD mn of inflow.
KOREA Fixed Income funds showed 0.0 USD mn of inflow.
RUSSIA Equity funds showed -11.7 USD mn of outflow.
RUSSIA Fixed Inco me funds showed -5.6 USD mn of outflow.
RUSSIA Fixed Income funds showed -1.9 USD mn of outflow.
SOUTH AFRICA Equity funds showed -2.2 USD mn of outflow.
TURKEY Equity funds showed 5.4 USD mn of inflow.
COMMUNICATIONS SECTOR Equity funds showed -2.9 USD mn of outflow.
ENERGY SECTOR Equity funds showed -24.0 USD mn of outflow.
FINANCIAL SECTOR Equity funds showed 21.6 USD mn of inflow.
REAL ESTATE SECTOR Equity funds showed -29.8 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed 16.7 USD mn of inflow.
UTILITIES SECTOR Equity funds showed 21.9 USD mn of inflow.
LONG SHORT Alternative funds showed 8.7 USD mn of inflow.
LONG SHORT Equity funds showed 5606.2 USD mn of inflow.
LONG SHORT Fixed Income funds showed 23.3 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 Russia Securities Feeder Investment | 10.01 | |
| Equity | OPEN-END FUND | JPMorgan Russia Equity Investment Trust | 4.98 | |
| Equity | OPEN-END FUND | East Capital Lux - Russian Fund is an open-end | 3.54 | |
| Equity | ETF | iShares MSCI Russia ADR/GDR UCITS ETF is | 3.07 | |
| Equity | OPEN-END FUND | KB Russia Representative Growth Securities | 2.49 |
Russia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | JPMorgan Funds - Russia Fund is an open-end | -10.87 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | -7.53 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Russia Equity | -6.59 | |
| Fixed Inco me | OPEN-END FUND | DWS Russia Bond Fund is a "specialized" | -5.61 | |
| Equity | OPEN-END FUND | Swedbank Robur Rysslandsfonden is an open-end | -4.98 |
Source: MidLincoln Research
China Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | CSOP FTSE China A50 ETF is an exchange-traded | 98.14 | |
| Equity | ETF | Hang Seng Investment Index Funds Series - | 83.92 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Chinese | 34.71 | |
| Equity | OPEN-END FUND | INVESCO PRC Equity Fund is a UCITS certified | 24.30 | |
| Equity | OPEN-END FUND | AssetPlus China Rich Together Securities | 18.26 |
China Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares Asia Trust - iShares FTSE A50 China | -99.99 | |
| Equity | OPEN-END FUND | Principal Global Opportunities Series PLC | -36.78 | |
| Equity | OPEN-END FUND | First State Global Umbrella PLC - China | -23.95 | |
| Equity | OPEN-END FUND | Eastspring China Securities Feeder Investment | -21.99 | |
| Equity | ETF | Harvest MSCI China A 50 Index ETF is an exchange-traded | -19.45 |
Source: MidLincoln Research
South Africa Inflows
| assclass | Type | profile | flow USD mln$ | |
| 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 | iShares MSCI South Africa UCITS ETF is an | -0.72 | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -1.45 |
South Africa Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -1.45 | |
| Equity | ETF | iShares MSCI South Africa UCITS ETF is an | -0.72 | |
| 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 | OPEN-END FUND | INVESCO Korean Equity Fund is a UCITS certified | 12.42 | |
| Equity | OPEN-END FUND | INVESCO Korean Equity Fund is a UCITS certified | 8.85 | |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Dist) is an | 5.30 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | 0.55 | |
| Equity | ETF | iShares MSCI Korea UCITS ETF (Acc) is an | 0.37 |
Korea Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | KIM Investment Funds - Korea Value Fund | -1.85 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Korean Equity | -1.64 | |
| Equity | OPEN-END FUND | JPMorgan Funds - Korea Equity is an open-end | -1.54 | |
| Equity | FUND OF FUNDS | Baring Korea Feeder Fund is an open-end | -1.51 | |
| Equity | OPEN-END FUND | KIM Investment Funds - Korea Navigator | -1.23 |
Source: MidLincoln Research
India Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | GS India Equity Portfolio is a Portfolio | 60.35 | |
| Equity | OPEN-END FUND | Kotak Funds - India Midcap Fund is a SICAV | 22.36 | |
| Fixed Income | OPEN-END FUND | UTI Indian Fixed Income Fund PLC is an | 6.52 | |
| Equity | OPEN-END FUND | Fidelity India Securities Feeder Investment | 5.23 | |
| Equity | OPEN-END FUND | Jupiter JGF - India Select is an open-end | 4.18 |
India Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | -43.64 | |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -21.03 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Indian Equity | -16.70 | |
| Equity | OPEN-END FUND | JPMorgan Funds - India Fund is an open-end | -7.61 | |
| Equity | OPEN-END FUND | Morgan Stanley Investment Funds - Indian | -5.42 |
Source: MidLincoln Research
Turkey Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 4.77 | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 0.67 |
Turkey Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 0.67 | |
| Equity | ETF | iShares MSCI Turkey UCITS ETF is an open-end, | 4.77 |
Source: MidLincoln Research
Brazil Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | JPMorgan Funds - Brazil Equity is an open-end | 1.07 | |
| Equity | OPEN-END FUND | JPMorgan Brazil Securities Feeder Investment | 0.83 | |
| Equity | OPEN-END FUND | JPMorgan Brazil Securities Master Investment | 0.41 | |
| Equity | OPEN-END FUND | KB Brazil Securities Feeder Investment | 0.23 | |
| Equity | OPEN-END FUND | KB Brazil Securities Feeder Investment | 0.23 |
Brazil Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | -13.13 | |
| Equity | OPEN-END FUND | HSBC Global Investment Funds - Brazil Equity | -5.29 | |
| Equity | ETF | iShares MSCI Brazil UCITS ETF (Acc) is an | -2.80 | |
| Equity | OPEN-END FUND | SH BNPP Bonjour Great Emerging Securities | -1.99 | |
| Fixed Income | OPEN-END FUND | DWS Brazil Bond Fund is an open-end investment | -1.91 |
Source: MidLincoln Research
Australia Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | NESTOR Australien Fonds is an open-end investment | 0.19 | |
| Equity | OPEN-END FUND | NESTOR Australien Fonds is an open-end | 0.18 | |
| Fixed Income | OPEN-END FUND | 0.00 | ||
| Equity | OPEN-END FUND | Mirae Asset Australia Discovery Securities | 0.00 | |
| Equity | ETF | iShares MSCI Australia - B UCITS ETF is an | 0.00 |
Australia Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring Australia | -2.42 | |
| Equity | OPEN-END FUND | UBS (Lux) Equity Fund - Australia (AUD) | -1.41 | |
| Equity | OPEN-END FUND | Baring International Umbrella - Baring | -1.30 | |
| Equity | ETF | iShares MSCI Australia UCITS ETF is an open-end, | -0.40 | |
| Fixed Income | OPEN-END FUND | Daiwa Bond Fund Series - Monthly Dividend | -0.10 |
Source: MidLincoln Research
Canada Inflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | 0.00 | |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | 0.00 |
Canada Outflows
| assclass | Type | profile | flow USD mln$ | |
| Equity | ETF | iShares MSCI Canada UCITS ETF is an open-ended, | 0.00 | |
| Equity | ETF | First Trust Canada AlphaDEX Fund is an exchange-traded | 0.00 |
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