Midlincoln Aggregates for funds
for week ending last Friday (inclusive)
| Focus | Objective | Asset Class | Flow USD mn |
| Commodities | INDUSTRIAL METALS | Commodity | -2.81 |
| Commodities | PRECIOUS METAL SECTOR | Equity | 25.13 |
| Commodities | PRECIOUS METALS | Commodity | 418.08 |
| Commodities | PRECIOUS METALS | Mixed Allocation | 0.64 |
| country | AUSTRALIA | Equity | 183.21 |
| country | AUSTRALIA | Fixed Income | 9.26 |
| country | AUSTRALIA | Mixed Allocation | 0.41 |
| country | BRAZIL | Equity | 6.04 |
| country | BRAZIL | Fixed Income | 581.97 |
| country | CHINA | Equity | 9080.49 |
| country | CHINA | Fixed Income | 20.22 |
| country | INDIA | Equity | -95.78 |
| country | INDIA | Fixed Income | -6.95 |
| country | ISRAEL | Equity | -0.06 |
| country | JAPAN | Equity | 8771.99 |
| country | JAPAN | Fixed Income | 1.96 |
| country | KOREA | Equity | -17.75 |
| country | POLAND | Equity | 2.16 |
| country | RUSSIA | Equity | 51.21 |
| country | RUSSIA | Fixed Income | 0.57 |
| country | SOUTH AFRICA | Equity | -1.40 |
| country | SPAIN | Equity | -0.11 |
| Country | TAIWAN | Equity | 10.53 |
| country | TURKEY | Equity | -5.46 |
| country | UNITED KINGDOM | Equity | 36.72 |
| industry | BASIC MATERIALS SECTOR | Equity | 116.28 |
| industry | COMMUNICATIONS SECTOR | Equity | 111.88 |
| industry | ENERGY SECTOR | Equity | 835.82 |
| industry | FINANCIAL SECTOR | Equity | 53.98 |
| industry | HEALTH CARE SECTOR | Equity | -90.62 |
| industry | INDUSTRIAL SECTOR | Equity | 133.89 |
| industry | MULTIPLE SECTOR | Equity | -0.95 |
| industry | NATURAL RESOURCES SECTOR | Equity | 33.20 |
| industry | REAL ESTATE SECTOR | Alternative | -0.21 |
| industry | REAL ESTATE SECTOR | Equity | 890.93 |
| industry | TECHNOLOGY SECTOR | Equity | 59.66 |
| industry | UTILITIES SECTOR | Equity | 326.15 |
| region | AFRICAN REGION | Equity | 5.64 |
| region | AFRICAN REGION | Fixed Income | 3.02 |
| region | ASIAN PACIFIC REGION | Equity | 254.02 |
| region | ASIAN PACIFIC REGION | Fixed Income | -24.53 |
| region | ASIAN PACIFIC REGION EX JAPAN | Equity | 128.25 |
| region | ASIAN PACIFIC REGION EX JAPAN | Fixed Income | 8.98 |
| region | ASIAN PACIFIC REGION EX JAPAN | Mixed Allocation | 0.03 |
| region | EASTERN EUROPEAN REGION | Equity | 6.46 |
| region | EASTERN EUROPEAN REGION | Fixed Income | 1.56 |
| region | EUROPEAN REGION | Equity | 980.94 |
| region | EUROPEAN REGION | Fixed Income | -0.73 |
| region | EUROPEAN REGION | Mixed Allocation | 0.28 |
| region | LATIN AMERICAN REGION | Equity | 492.51 |
| region | LATIN AMERICAN REGION | Fixed Income | 62.98 |
| region | MIDDLE EAST REGION | Equity | 1.83 |
| region | MIDDLE EAST REGION | Fixed Income | 0.19 |
| region | NORDIC REGION | Equity | 109.18 |
| region | NORTH AMERICAN REGION | Equity | 133.18 |
| region | NORTH AMERICAN REGION | Fixed Income | 1.69 |
| Risk | GOVERNMENT BOND | Fixed Income | 169.35 |
| Risk | GOVERNMENT BOND | Mixed Allocation | 0.00 |
| Risk | INFLATION PROTECTED | Brazil | -0.06 |
| Risk | INFLATION PROTECTED | Fixed Income | -442.07 |
| Risk | INFLATION PROTECTED | Mixed Allocation | 18.90 |
| Risk | LONG SHORT | Alternative | -58.26 |
| Risk | LONG SHORT | Equity | 126.64 |
| Risk | LONG SHORT | Fixed Income | -1.60 |
| Risk | LONG SHORT | Mixed Allocation | -0.02 |
| Sector | AGRICULTURE | Commodity | 4.25 |
| Sector | AGRICULTURE | Equity | 0.01 |
| Sector | CONSUMER DISCRETIONARY | Equity | 140.00 |
| Sector | CONSUMER STAPLES | Equity | 690.78 |
| segment | BRIC | Equity | 27.38 |
| segment | BRIC | Fixed Income | -0.64 |
| segment | DEVELOPED MARKETS | Equity | 92.79 |
| segment | EMEA | Equity | 1.77 |
| segment | EMEA | Fixed Income | 1.86 |
| segment | EMERGING MARKETS | Equity | 40.13 |
| segment | GCC | Equity | 0.22 |
| segment | GCC | Fixed Income | 0.00 |
| segment | GCC | Mixed Allocation | -0.01 |
| segment | MENA | Equity | -0.06 |
| segment | MENA | Fixed Income | 2.08 |
| Size | LARGE-CAP | Equity | -1582.55 |
| Size | MID-CAP | Equity | -137.87 |
| Size | SMALL-CAP | Equity | 687.19 |
Source: Midlincoln Research
Fund Aggregates
Chart: Sector Funds Show Mostly Inflows (between Sep 7 and 14)
Source: ML
Emerging markets fund flow showed 40.1 USD mn of inflow. While Frontier Markets funds showed -0.1 USD mn of outflows.
BRAZIL Equity funds showed 6.0 USD mn of inflow.
BRAZIL Fixed Income funds showed 582.0 USD mn of inflow.
CHINA Equity funds showed 9080.5 USD mn of inflow.
CHINA Fixed Income funds showed 20.2 USD mn of inflow.
INDIA Equity funds showed -95.8 USD mn of outflow.
INDIA Fixed Income funds showed -6.9 USD mn of outflow.
KOREA Equity funds showed -17.8 USD mn of outflow.
RUSSIA Equity funds showed 51.2 USD mn of inflow.
RUSSIA Fixed Income funds showed 0.6 USD mn of inflow.
SOUTH AFRICA Equity funds showed -1.4 USD mn of outflow.
TURKEY Equity funds showed -5.5 USD mn of outflow.
COMMUNICATIONS SECTOR Equity funds showed 111.9 USD mn of inflow.
ENERGY SECTOR Equity funds showed 835.8 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed 54.0 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed -0.2 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed 890.9 USD mn of inflow.
TECHNOLOGY SECTOR Equity funds showed 59.7 USD mn of inflow.
UTILITIES SECTOR Equity funds showed 326.2 USD mn of inflow.
LONG SHORT Alternative funds showed -58.3 USD mn of outflow.
LONG SHORT Equity funds showed 126.6 USD mn of inflow.
LONG SHORT Fixed Income funds showed -1.6 USD mn of outflow.
LONG SHORT Mixed Allocation funds showed 0.0 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 | profile | flow USD mln$ |
| Equity | HSBC Global Investment Funds - Russia Equity | 24.05 |
| Equity | JPMorgan Funds - Russia Fund is an open-end | 9.08 |
| Equity | JPMorgan Funds - Russia Fund is an open-end | 8.52 |
| Equity | HSBC Global Investment Funds - Russia Equity | 7.08 |
| Equity | LYXOR ETF RUSSIA (Dow Jones Russia GDR) - | 6.98 |
Russia Outflows
| assclass | profile | flow USD mln$ |
| Equity | Market Vectors Russia ETF is an exchange-traded | -8.37 |
| Equity | LYXOR ETF RUSSIA Dow Jones Russia GDR - D | -4.81 |
| Equity | Direxion Daily Russia Bull 3x Shares is an | -2.66 |
| Equity | HSBC Global Investment Funds - Russia Equity | -1.00 |
| Equity | db x-trackers MSCI Russia Capped Index UCITS | -0.33 |
Source: MidLincoln Research
China Inflows
| assclass | profile | flow USD mln$ |
| Equity | HSBC Global Investment Funds - Chinese | 99.99 |
| Equity | iShares China Large-Cap ETF is an exchange-traded | 87.50 |
| Equity | HSBC Global Investment Funds - Chinese | 78.86 |
| Equity | HSBC Global Investment Funds - Chinese Equity | 77.14 |
| Equity | CSOP FTSE China A50 ETF is an exchange-traded | 21.76 |
China Outflows
| assclass | profile | flow USD mln$ |
| Equity | K China Equity Fund is an open-ended fund | -7.97 |
| Equity | GAM Star plc - China Equity is a UCITS | -5.57 |
| Equity | BOCIP China Value Fund is an open-end fund | -1.98 |
| Equity | W.I.S.E. - CSI 300 China Tracker� is an index-tracking | -1.74 |
| Fixed Income | Flexifund - Bond RMB is an open-end fund short | -0.12 |
Source: MidLincoln Research
South Africa Inflows
| assclass | profile | flow USD mln$ |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.63 |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 |
| Equity | iShares MSCI South Africa UCITS ETF is an | -2.03 |
South Africa Outflows
| assclass | profile | flow USD mln$ |
| Equity | iShares MSCI South Africa UCITS ETF is an | -2.03 |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked | 0.00 |
| Equity | NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange | 0.63 |
Source: MidLincoln Research
Korea Inflows
| assclass | profile | flow USD mln$ |
| Equity | Matthews Korea Fund is an open-end fund | 9.18 |
| Equity | db x-trackers - MSCI Korea TRN Index UCITS | 8.76 |
| Equity | Fidelity Funds - Korea Fund is an open-end | 7.82 |
| Equity | Korea Equity Fund, Inc. is a non-diversified, | 5.91 |
| Equity | Lyxor ETF MSCI Korea is a UCITS compliant | 4.24 |
Korea Outflows
| assclass | profile | flow USD mln$ |
| Equity | iShares MSCI South Korea Capped ETF is an | -51.86 |
| Equity | INVESCO Korean Equity Fund is a UCITS | -1.08 |
| Equity | INVESCO Korean Equity Fund is a UCITS certified | -1.01 |
| Equity | Deutsche X-trackers MSCI South Korea Hedged | -0.43 |
| Equity | WisdomTree Korea Hedged Equity Fund is an | -0.36 |
Source: MidLincoln Research
India Inflows
| assclass | profile | flow USD mln$ |
| Equity | HSBC Global Investment Funds - Indian Equity | 53.93 |
| Equity | Fidelity Funds - Indonesia Fund is a UCITS | 25.02 |
| Equity | The Lyxor ETF MSCI India is a UCITS compliant | 22.60 |
| Equity | GS India Equity Portfolio is a Portfolio | 2.53 |
| Equity | db x-trackers CNX Nifty UCITS ETF is a UCITS | 2.12 |
India Outflows
| assclass | profile | flow USD mln$ |
| Equity | Aberdeen Global - India Equity Fund is | -57.73 |
| Equity | WisdomTree India Earnings Fund is an exchange-traded | -47.72 |
| Equity | iShares MSCI India ETF is an exchange-traded | -29.22 |
| Equity | Aberdeen Global - India Equity Fund is | -24.96 |
| Equity | HSBC Global Investment Funds - Indian Equity | -20.45 |
Source: MidLincoln Research
Turkey Inflows
| assclass | profile | flow USD mln$ |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | 4.62 |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -10.08 |
Turkey Outflows
| assclass | profile | flow USD mln$ |
| Equity | The Lyxor ETF Turkey (DJ Turkey Titans 20) | -10.08 |
| Equity | iShares MSCI Turkey UCITS ETF is an open-end, | 4.62 |
Source: MidLincoln Research
Brazil Inflows
| assclass | profile | flow USD mln$ |
| Fixed Income | Fondo Mutuo Security Fixed Income BRL is | 99.99 |
| Equity | Direxion Daily Brazil Bull 3x Shares is an | 5.40 |
| Equity | BNY Mellon Global Funds PLC - Brazil Equity | 5.39 |
| Fixed Income | HSBC Global Investment Funds - Brazil Bond | 4.16 |
| Equity | Lyxor ETF Brazil (Ibovespa) USD is an exchange | 2.89 |
Brazil Outflows
| assclass | profile | flow USD mln$ |
| Equity | db x-trackers - MSCI Brazil TRN Index UCITS | -5.50 |
| Equity | ProShares UltraShort MSCI Brazil Capped is short | -4.44 |
| Fixed Income | UBS (Lux) Bond Sicav - Brazil is an open-end | -0.89 |
| Fixed Income | Santander FIC FI Renda Fixa I Credito Privado | -0.39 |
| Equity | HSBC Brazil Fund is an open-end fund incorporated | -0.03 |
Source: MidLincoln Research
Australia Inflows
| assclass | profile | flow USD mln$ |
| Equity | Fidelity Funds - Australia Fund is an open-end | 80.00 |
| Equity | UBS (Lux) Equity Fund - Australia (AUD) is | 30.16 |
| Equity | Candriam Equities L - Australia is a SICAV | 17.55 |
| Equity | Fidelity Funds - Australia Fund is an open-end | 13.49 |
| Equity | Fidelity Funds - Australia Fund is an open-end | 13.48 |
Australia Outflows
| assclass | profile | flow USD mln$ |
| Fixed Income | Daiwa Bond Fund Series - Monthly Dividend | -0.28 |
| Equity | SmartOZZY is an investment fund incorporated | -0.27 |
| Equity | SmartMOZY is an exchange traded fund listed | -0.03 |
| Equity | Baring International Umbrella - Baring Australia | -0.03 |
| Fixed Income | ZKB-CIF I Australia Govt. Bond Index is | 0.04 |
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