Weekly Strategy

MidLincoln Research

Aggregates for Funds

BIG Data Global Investment Strategy with focus on GEMs

Midlincoln Aggregates for funds

for week ending last Friday (inclusive)

Focus	Objective	Asset Class	Flow USD mn
Commodities	INDUSTRIAL METALS	Commodity	23.70
Commodities	PRECIOUS METAL SECTOR	Equity	508.51
Commodities	PRECIOUS METALS	Commodity	-419.12
Commodities	PRECIOUS METALS	Mixed Allocation	-6.15
country	AUSTRALIA	Equity	-19.76
country	AUSTRALIA	Fixed Income	17.75
country	AUSTRALIA	Mixed Allocation	0.01
country	BRAZIL	Equity	189.33
country	BRAZIL	Fixed Income	-2.90
country	CHINA	Equity	-315.46
country	CHINA	Fixed Income	-28.06
Country	EGYPT	Equity	0.37
country	INDIA	Equity	-149.11
country	INDIA	Fixed Income	2.08
country	ISRAEL	Equity	-1.02
country	JAPAN	Equity	-317.27
country	JAPAN	Fixed Income	-36.00
country	JAPAN	Mixed Allocation	6.39
country	KOREA	Equity	-23.96
country	POLAND	Equity	12.60
country	RUSSIA	Equity	-253.26
country	RUSSIA	Fixed Income	32.32
country	SOUTH AFRICA	Equity	-12.90
country	SPAIN	Equity	45.60
Country	TAIWAN	Equity	-54.97
country	TURKEY	Equity	0.53
country	UNITED KINGDOM	Equity	-136.19
industry	BASIC MATERIALS SECTOR	Equity	716.16
industry	COMMUNICATIONS SECTOR	Equity	-116.69
industry	ENERGY SECTOR	Equity	943.87
industry	ENERGY SECTOR	Mixed Allocation	-0.19
industry	FINANCIAL SECTOR	Equity	-28.16
industry	HEALTH CARE SECTOR	Equity	-665.60
industry	INDUSTRIAL SECTOR	Equity	58.21
industry	MULTIPLE SECTOR	Equity	-0.91
industry	NATURAL RESOURCES SECTOR	Equity	0.55
industry	REAL ESTATE SECTOR	Alternative	-5.01
industry	REAL ESTATE SECTOR	Equity	-1054.75
industry	TECHNOLOGY SECTOR	Equity	-193.14
industry	UTILITIES SECTOR	Equity	-173.91
region	AFRICAN REGION	Equity	1.52
region	AFRICAN REGION	Fixed Income	10.73
region	ASIAN PACIFIC REGION	Equity	-472.06
region	ASIAN PACIFIC REGION	Fixed Income	20.30
region	ASIAN PACIFIC REGION	Mixed Allocation	15.90
region	ASIAN PACIFIC REGION EX JAPAN	Equity	-503.42
region	ASIAN PACIFIC REGION EX JAPAN	Fixed Income	-56.89
region	ASIAN PACIFIC REGION EX JAPAN	Mixed Allocation	-38.19
region	EASTERN EUROPEAN REGION	Equity	-16.03
region	EASTERN EUROPEAN REGION	Fixed Income	-2.81
region	EASTERN EUROPEAN REGION	Mixed Allocation	-2.63
region	EUROPEAN REGION	Equity	-590.49
region	EUROPEAN REGION	Fixed Income	-804.68
region	EUROPEAN REGION	Mixed Allocation	-1.54
region	LATIN AMERICAN REGION	Equity	67.48
region	LATIN AMERICAN REGION	Fixed Income	18.73
region	MIDDLE EAST REGION	Equity	-9.08
region	MIDDLE EAST REGION	Fixed Income	-1.01
region	NORDIC REGION	Equity	-192.86
region	NORTH AMERICAN REGION	Equity	-56.51
region	NORTH AMERICAN REGION	Fixed Income	-42.14
Risk	GOVERNMENT BOND	Alternative	-0.19
Risk	GOVERNMENT BOND	Equity	-0.01
Risk	GOVERNMENT BOND	Fixed Income	1058.61
Risk	GOVERNMENT BOND	Mixed Allocation	0.17
Risk	INFLATION PROTECTED	Brazil	-2.97
Risk	INFLATION PROTECTED	Fixed Income	-238.68
Risk	INFLATION PROTECTED	Mixed Allocation	-6.22
Risk	LONG SHORT	Alternative	-2.39
Risk	LONG SHORT	Equity	-128.66
Risk	LONG SHORT	Fixed Income	1.81
Risk	LONG SHORT	Mixed Allocation	-0.02
Sector	AGRICULTURE	Commodity	0.41
Sector	AGRICULTURE	Equity	0.00
Sector	CONSUMER DISCRETIONARY	Equity	545.99
Sector	CONSUMER STAPLES	Equity	35.38
segment	BRIC	Equity	-27.74
segment	BRIC	Fixed Income	0.69
segment	DEVELOPED MARKETS	Equity	-449.93
segment	EMEA	Equity	-0.36
segment	EMEA	Fixed Income	0.69
segment	EMERGING MARKETS	Equity	322.51
segment	GCC	Equity	-0.85
segment	GCC	Fixed Income	-0.07
segment	GCC	Mixed Allocation	0.06
segment	MENA	Equity	-1.88
segment	MENA	Fixed Income	-3.69
Size	LARGE-CAP	Equity	2164.82
Size	MID-CAP	Commodity	0.76
Size	MID-CAP	Equity	548.41
Size	SMALL-CAP	Equity	118.15

Source: Midlincoln Research

Fund Aggregates

Chart: Weekly Fund Flows For Select GEM Countries

Fund Flows into Key BRICT countries are quite correlated.. Only Brazil remains floating the remaining RICT went under this week

Source: ML

Download file in Power Point

Emerging markets fund flow showed 322.5 USD mn of inflow. While Frontier Markets funds showed -0.3 USD mn of outflows.

BRAZIL Equity funds showed 189.3 USD mn of inflow.
BRAZIL Fixed Income funds showed -2.9 USD mn of outflow.
CHINA Equity funds showed -315.5 USD mn of outflow.
CHINA Fixed Income funds showed -28.1 USD mn of outflow.
INDIA Equity funds showed -149.1 USD mn of outflow.
INDIA Fixed Income funds showed 2.1 USD mn of inflow.
KOREA Equity funds showed -24.0 USD mn of outflow.
RUSSIA Equity funds showed -253.3 USD mn of outflow.
RUSSIA Fixed Income funds showed 32.3 USD mn of inflow.
SOUTH AFRICA Equity funds showed -12.9 USD mn of outflow.
TURKEY Equity funds showed 0.5 USD mn of inflow.

COMMUNICATIONS SECTOR Equity funds showed -116.7 USD mn of outflow.
ENERGY SECTOR Equity funds showed 943.9 USD mn of inflow.
ENERGY SECTOR Mixed Allocation funds showed -0.2 USD mn of outflow.
FINANCIAL SECTOR Equity funds showed -28.2 USD mn of outflow.
REAL ESTATE SECTOR Alternative funds showed -5.0 USD mn of outflow.
REAL ESTATE SECTOR Equity funds showed -1054.7 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed -193.1 USD mn of outflow.
UTILITIES SECTOR Equity funds showed -173.9 USD mn of outflow.

LONG SHORT Alternative funds showed -2.4 USD mn of outflow.
LONG SHORT Equity funds showed -128.7 USD mn of outflow.
LONG SHORT Fixed Income funds showed 1.8 USD mn of inflow.
LONG SHORT Mixed Allocation funds showed 0.0 USD mn of inflow.

Top 20 Funds Longs Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-7.21	3.15	47.54	31.64	392.05	104.91
SANTANDER FIC FI VALE 3 ACOES (REALRIO)	-8.21	1.08	36.62	105.40	289.19	96.87
SAFRA VALE DO RIO DOCE FIC FIA (SAFVRDA)	-8.11	1.06	36.08	103.75	280.76	94.37
BB ACOES SIDERURGIA FICFI (BBACOSI)	-4.02	3.24	23.49	41.66	254.74	73.91
CANADIAN LIFE COS SPLIT CORP (LFE)	0.25	1.62	13.24	111.95	118.44	58.07
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-2.15	7.09	47.03	29.97	185.39	55.07
SANTANDER FIC FI PETROBRAS 3 ACOES (REALPET)	-2.73	-0.92	2.90	16.50	203.99	54.21
SAFRA PETROBRAS FIC FIA (SAFPETR)	-2.70	-0.93	2.82	16.24	202.20	53.70
FIA MERLOT (MAXPOWR)	1.13	1.37	11.32	42.32	144.25	47.27
MAXWELL POWER (MAXPOWR)	1.13	1.37	11.32	42.32	144.25	47.27
DIREXION DAILY RUSSIA BULL 3X SHARES (RUSL)	-7.09	-17.94	-8.01	44.63	160.40	45.00
SECURITY - FONDO DE INVERSION IFUND MSCI BRAZIL SMALL CAP INDEX (IFBRASC)	-1.44	8.92	27.47	27.75	128.74	40.99
BB ACOES SETOR FINANCEIRO FIC FI (BBACOEB)	1.55	8.86	23.64	24.99	124.67	40.02
LYXOR ETF BRAZIL IBOVESPA (LYMG)	-0.39	20.71	22.27	16.52	106.63	35.87
BB ACOES INFRAESTRUTURA FIC FI (BBACINF)	-2.12	6.48	21.87	22.29	110.08	34.18
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	1.51	6.68	19.68	21.58	106.55	34.08
CANADIAN BANC CORP (BK)	-1.68	1.31	12.86	33.07	95.91	32.15
SPDR S&P METALS & MINING ETF (SSGG)	-4.91	-3.91	3.19	26.90	109.31	31.85
HSBC BRAZIL FUND - DIVIDEND (HSBCBRD)	1.78	7.57	20.25	19.31	98.43	31.77
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	0.23	5.45	17.72	19.30	99.55	31.13

Top 20 Funds Shorts Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	-18.80	-50.19	-66.42	-60.85	-30.76	-40.15
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	3.96	-4.36	-26.56	-35.98	-82.71	-29.77
SPOTR BEAR OMXS30 (SPBEAOMX)	0.09	-4.28	-7.20	-23.45	-38.95	-16.65
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	1.05	-1.07	-3.90	-25.35	-41.07	-16.61
LYXOR ETF FTSE MIB DAILY DOUBLE SHORT XBEAR (XBRMIB)	3.83	6.09	5.46	-27.46	-37.32	-13.72
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	-0.39	-1.07	-10.75	-22.48	-25.07	-12.25
ETFS DAILY SHORT COPPER (SCOP)	2.20	-0.36	-7.58	-24.43	-23.95	-11.64
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	-0.83	-5.30	-11.08	-9.77	-30.33	-11.56
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	0.72	-5.38	-9.17	-8.98	-28.32	-10.49
DB X-TRACKERS SHORTDAX DAILY UCITS ETF (XSDX)	0.47	-0.60	-2.49	-15.54	-25.35	-10.26
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	0.37	-1.00	-1.72	-15.41	-22.78	-9.71
COMSTAGE ETF CAC 40 SHORT GR UCITS ETF (CBCACSEU)	0.50	-0.76	0.13	-14.21	-20.83	-8.83
LYXOR ETF FTSE MIB DAILY SHORT BEAR (BERMIB)	1.74	2.46	2.88	-16.61	-19.90	-8.08
CHANGSHENG TELECOM INDUSTRY FUND (CHTEINF)	2.62	2.69	-0.73	-16.36	-19.44	-7.62
DIREXION DAILY GOLD MINERS BULL 3X SHARES (NUGT)	-7.93	10.39	47.38	-36.71	7.07	-6.80
YINHUA CONSUMPTION THEME FUND (150048)	0.15	0.49	1.27	-7.52	-17.27	-6.04
DB X-TRACKERS MSCI AC ASIA EX JAPAN TRN INDEX UCITS ETF (DXS5)	-0.39	-1.07	0.21	-5.28	-16.22	-5.74
AUSTRALIA EQUITY INCOME FUND (DWAUEIP)	-0.24	0.83	2.55	-11.62	-8.54	-4.89
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	4.59	6.94	12.20	-16.61	-12.67	-4.44
ISHARES MSCI PHILIPPINES ETF (EPHE*)	-2.11	-4.49	0.98	-13.53	2.58	-4.39

Best Fundses last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (099340)	4.97	13.68	8.74	11.32	17.01	38.72	18.95
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-0.31	9.47	3.89	7.42	-9.10	-0.41	0.45
MERCANTILE INVESTMENT CO LTD (21IA)	2.99	3.17	3.52	2.81	14.68	36.66	14.42
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-0.61	12.15	3.21	10.33	-4.65	-8.23	0.16
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	1.98	11.14	2.62	8.64	-7.60	-12.47	-2.20
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-0.50	16.84	2.42	5.62	5.12	48.15	15.33
HANWHA CHINA MAINLAND SECURITIES FEEDER INVESTMENT TRUST H - EQUITY - C-F (3991497)	-0.75	12.81	2.39	6.16	-2.65	19.84	6.44
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-0.18	0.26	2.38	-4.99	17.19	62.26	19.21
KB CHINA MAINLAND A SHARE LEVERAGE SEC FEEDER INVST TRUST-EQUITY-DERV FOF (3AF8926)	-0.51	16.43	2.38	5.42	4.02	44.93	14.19
DWS GOLD PLUS (DI4GR)	0.88	9.30	2.18	5.33	-4.92	1.15	0.93
CHINA UNIVERSAL CSI CONSUMER STAPLES INDEX ETF (159928)	-0.61	7.87	2.04	4.57	4.51	27.09	9.55
BARRAMUNDI LTD (BRM)	1.74	3.83	1.97	0.93	2.69	20.96	6.64
PICTET - EMERGING LOCAL CURRENCY DEBT (PJAC)	0.71	2.85	1.84	3.59	-1.14	12.07	4.09
HARVEST GOLD FUND (160719)	0.31	6.89	1.79	4.27	-5.28	-1.05	-0.07
HSBC GLOBAL INVESTMENT FUNDS - GLOBAL EMERGING MARKETS BOND - PC USD (JHSN)	0.78	3.48	1.77	3.06	-0.15	10.95	3.91
JAPAN SMALLER CAPITALIZATION FUND INC (JSM)	0.57	11.59	1.72	4.28	15.54	31.44	13.25
XETRA-GOLD (4GLD)	0.01	8.47	1.70	5.80	-3.98	2.97	1.62
SPDR GOLD SHARES (GLD)	0.26	8.39	1.69	6.05	-4.63	1.64	1.19
ISHARES GOLD TRUST (I6HB)	-0.67	8.80	1.63	5.24	-4.61	2.40	1.17
ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)	0.63	8.63	1.63	6.01	-4.33	2.47	1.44

Worst Funds last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)	-6.81	3.04	-7.48	3.05	30.62	59.19	21.35
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-3.64	16.29	-4.98	2.81	18.63	94.27	27.68
SPDR S&P METALS & MINING ETF (SSGG)	-0.35	3.19	-4.91	-3.91	26.90	109.31	31.85
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-3.32	17.73	-4.15	7.81	0.06	66.89	17.65
GLOBAL X FTSE ARGENTINA 20 ETF (GX0A)	0.14	15.05	-3.89	2.47	18.83	43.46	15.22
ALLIANZ ROHSTOFFONDS - A (DJFK)	-1.23	8.46	-3.66	-1.83	22.19	65.08	20.45
JPMORGAN FUNDS - GLOBAL NATURAL RESOURCES FUND (JP5B)	0.17	6.87	-2.64	-1.77	15.79	56.96	17.09
BOCI-PRUDENTIAL - W.I.S.E. - CSI CHINA TRACKER FUND (2827)	-2.27	3.89	-2.59	-0.86	-1.04	12.12	1.91
ISHARES MSCI ITALY CAPPED ETF (ISVQ)	-0.56	-3.97	-2.40	-6.36	4.49	7.99	0.93
MARKET VECTORS AFRICA INDEX ETF (VEF2)	-0.33	5.98	-2.30	-1.52	7.78	28.19	8.04
ISHARES MSCI AUSTRIA CAPPED ETF (ISVK)	-2.84	6.81	-2.27	-0.14	12.08	26.59	9.07
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.74	19.18	-2.21	10.88	13.64	70.26	23.14
CITIC-PRUDENTIAL CSI 800 FINANCIAL INDEX CLASSIFIED FUND (150158)	-1.81	5.73	-2.19	1.02	1.31	37.52	9.42
ISHARES MSCI RUSSIA CAPPED ETF (BK0B)	0.30	-3.02	-2.07	-6.53	19.14	50.72	15.32
DB X-TRACKERS ATX UCITS ETF DR (XB4A)	0.19	5.09	-1.97	0.29	13.95	28.57	10.21
BLACKROCK GLOBAL FUNDS - WORLD ENERGY FUND (H2Z6)	-0.21	-5.58	-1.86	-5.85	-2.59	19.74	2.36
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	0.17	14.65	-1.84	-1.81	11.63	49.42	14.35
LBBW ROHSTOFFE & RESSOURCEN (OG73)	0.67	11.55	-1.84	1.47	1.62	39.52	10.19
COMSTAGE ETF ATX UCITS ETF (CBATX)	0.33	5.15	-1.83	0.03	13.33	27.50	9.76
DB X-TRACKERS FTSE MIB INDEX UCITS ETF DR (XMIB)	0.43	-2.82	-1.78	-4.21	5.43	7.30	1.68

Best Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
HSBC MSCI TURKEY UCITS ETF (H4Z2)	0.70	11.18	0.60	13.78	-4.33	0.14	2.55
ISHARES MSCI TURKEY ETF (ISVZ)	-0.03	9.85	-0.10	12.76	-4.82	-0.21	1.91
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (099340)	4.97	13.68	8.74	11.32	17.01	38.72	18.95
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.74	19.18	-2.21	10.88	13.64	70.26	23.14
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-0.61	12.15	3.21	10.33	-4.65	-8.23	0.16
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	1.98	11.14	2.62	8.64	-7.60	-12.47	-2.20
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.20	12.28	0.55	7.87	9.57	21.93	9.98
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-3.32	17.73	-4.15	7.81	0.06	66.89	17.65
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-0.31	9.47	3.89	7.42	-9.10	-0.41	0.45
BLACKROCK GLOBAL FUNDS - WORLD HEALTHSCIENCE FUND - EURA2 (ERDV)	0.02	8.76	-0.25	6.81	2.27	10.16	4.75
ABERDEEN GLOBAL - INDIAN EQUITY FUND - A2 (AEF2)	0.75	11.00	0.88	6.60	-1.85	25.68	7.83
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - C-USD (LRX3)	-0.59	11.32	0.96	6.22	8.09	35.14	12.60
HANWHA CHINA MAINLAND SECURITIES FEEDER INVESTMENT TRUST H - EQUITY - C-F (3991497)	-0.75	12.81	2.39	6.16	-2.65	19.84	6.44
SPDR GOLD SHARES (GLD)	0.26	8.39	1.69	6.05	-4.63	1.64	1.19
ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)	0.63	8.63	1.63	6.01	-4.33	2.47	1.44
SCHRODER BRICS SECURITIES FEEDER INVESTMENT TRUST A - EQUITY (0525291)	-1.32	14.74	1.12	5.90	4.95	45.08	14.26
HSBC GLOBAL INVESTMENT FUNDS - INDIAN EQUITY (JHSC)	0.07	12.55	1.04	5.88	5.11	38.62	12.66
XETRA-GOLD (4GLD)	0.01	8.47	1.70	5.80	-3.98	2.97	1.62
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	-0.20	15.40	-0.98	5.76	-9.68	23.31	4.60
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-0.50	16.84	2.42	5.62	5.12	48.15	15.33

Worst Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
HSBC MSCI TURKEY UCITS ETF (H4Z2)	0.70	11.18	0.60	13.78	-4.33	0.14	2.55
ISHARES MSCI TURKEY ETF (ISVZ)	-0.03	9.85	-0.10	12.76	-4.82	-0.21	1.91
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (099340)	4.97	13.68	8.74	11.32	17.01	38.72	18.95
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.74	19.18	-2.21	10.88	13.64	70.26	23.14
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-0.61	12.15	3.21	10.33	-4.65	-8.23	0.16
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	1.98	11.14	2.62	8.64	-7.60	-12.47	-2.20
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.20	12.28	0.55	7.87	9.57	21.93	9.98
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-3.32	17.73	-4.15	7.81	0.06	66.89	17.65
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-0.31	9.47	3.89	7.42	-9.10	-0.41	0.45
BLACKROCK GLOBAL FUNDS - WORLD HEALTHSCIENCE FUND - EURA2 (ERDV)	0.02	8.76	-0.25	6.81	2.27	10.16	4.75
ABERDEEN GLOBAL - INDIAN EQUITY FUND - A2 (AEF2)	0.75	11.00	0.88	6.60	-1.85	25.68	7.83
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - C-USD (LRX3)	-0.59	11.32	0.96	6.22	8.09	35.14	12.60
HANWHA CHINA MAINLAND SECURITIES FEEDER INVESTMENT TRUST H - EQUITY - C-F (3991497)	-0.75	12.81	2.39	6.16	-2.65	19.84	6.44
SPDR GOLD SHARES (GLD)	0.26	8.39	1.69	6.05	-4.63	1.64	1.19
ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)	0.63	8.63	1.63	6.01	-4.33	2.47	1.44
SCHRODER BRICS SECURITIES FEEDER INVESTMENT TRUST A - EQUITY (0525291)	-1.32	14.74	1.12	5.90	4.95	45.08	14.26
HSBC GLOBAL INVESTMENT FUNDS - INDIAN EQUITY (JHSC)	0.07	12.55	1.04	5.88	5.11	38.62	12.66
XETRA-GOLD (4GLD)	0.01	8.47	1.70	5.80	-3.98	2.97	1.62
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	-0.20	15.40	-0.98	5.76	-9.68	23.31	4.60
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-0.50	16.84	2.42	5.62	5.12	48.15	15.33

Best Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
JPMORGAN INDIAN INVESTMENT TRUST PLC (3J8)	0.72	31.09	-0.49	4.30	-3.05	32.34	8.28
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.74	19.18	-2.21	10.88	13.64	70.26	23.14
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-3.32	17.73	-4.15	7.81	0.06	66.89	17.65
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-2.48	17.08	-1.68	4.27	20.28	101.01	30.97
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-0.50	16.84	2.42	5.62	5.12	48.15	15.33
KB CHINA MAINLAND A SHARE LEVERAGE SEC FEEDER INVST TRUST-EQUITY-DERV FOF (3AF8926)	-0.51	16.43	2.38	5.42	4.02	44.93	14.19
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-3.64	16.29	-4.98	2.81	18.63	94.27	27.68
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-0.98	15.91	0.58	5.10	9.39	46.49	15.39
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	-0.20	15.40	-0.98	5.76	-9.68	23.31	4.60
GLOBAL X FTSE ARGENTINA 20 ETF (GX0A)	0.14	15.05	-3.89	2.47	18.83	43.46	15.22
FONDUL PROPRIETATEA SA/FUND (FP)	0.20	14.87	0.95	1.14	6.56	24.86	8.38
SCHRODER BRICS SECURITIES FEEDER INVESTMENT TRUST A - EQUITY (0525291)	-1.32	14.74	1.12	5.90	4.95	45.08	14.26
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	0.17	14.65	-1.84	-1.81	11.63	49.42	14.35
KOREA EQUITY FUND INC (KR6)	0.22	14.30	0.78	1.67	5.61	26.39	8.61
FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON LATIN AMERICA FUND - A YDISEUR (XQ1H)	1.44	14.15	-0.16	4.98	6.20	43.30	13.58
GAM STAR FUND PLC - CHINA EQUITY (GAF4)	0.45	13.80	0.22	4.84	6.40	22.21	8.42
FIDELITY FUNDS - LATIN AMERICA FUND - A (FJRC)	0.14	13.78	0.09	4.50	8.42	39.04	13.01
BLACKROCK GLOBAL FUNDS - LATIN AMERICA FUND - EURA2 (ERDP)	1.11	13.76	-0.60	2.99	10.22	46.34	14.74
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (099340)	4.97	13.68	8.74	11.32	17.01	38.72	18.95
ABERDEEN LATIN AMERICA EQUITY FUND INC (LT4)	-2.09	13.54	-0.75	3.58	5.10	51.32	14.81

Worst Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	-0.20	-9.17	0.72	-5.38	-8.98	-28.32	-10.49
NEXT NOTES NIKKEI TOCOM LEVERAGED CRUDE OIL ETN (2038)	-1.36	-8.20	-0.13	-3.46	30.75	32.26	14.86
BLACKROCK GLOBAL FUNDS - WORLD ENERGY FUND (H2Z6)	-0.21	-5.58	-1.86	-5.85	-2.59	19.74	2.36
ISHARES GLOBAL ENERGY ETF (ISQQ)	-0.69	-4.28	-1.17	-5.16	3.56	27.65	6.22
ISHARES MSCI ITALY CAPPED ETF (ISVQ)	-0.56	-3.97	-2.40	-6.36	4.49	7.99	0.93
HSBC MSCI RUSSIA CAPPED UCITS ETF $ (H4ZM)	1.40	-3.37	-1.54	-4.57	20.63	53.63	17.04
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	2.28	-3.24	0.10	-4.54	19.64	53.97	17.29
ISHARES MSCI RUSSIA CAPPED ETF (BK0B)	0.30	-3.02	-2.07	-6.53	19.14	50.72	15.32
DB X-TRACKERS - MSCI RUSSIA CAPPED INDEX UCITS ETF - 2D (XMRC)	-0.82	-2.82	-1.63	-3.98	16.99	46.85	14.56
DB X-TRACKERS FTSE MIB INDEX UCITS ETF DR (XMIB)	0.43	-2.82	-1.78	-4.21	5.43	7.30	1.68
YINHUA CSI CHINA MAINLAND NATURAL RESOURCE INDEX FUND (150059)	-0.96	-2.65	-1.41	-3.50	-5.68	0.05	-2.64
WTI CRUDE OIL PRICE LINKED ETF (1671)	-0.75	-2.55	0.75	-0.01	7.52	33.25	10.38
ISHARES US TELECOMMUNICATIONS ETF (ISQC)	-0.83	-1.65	-1.06	-4.54	6.69	21.55	5.66
UNITED STATES OIL FUND LP (U9N)	0.63	-1.63	1.06	1.64	11.29	30.05	11.01
AVANA INDEXTREND EUROPA CONTROL - R (AICB)	0.17	-0.14	0.20	0.09	-5.07	1.49	-0.82
HSBC GLOBAL INVESTMENT FUNDS - RUSSIA EQUITY (XU8R)	-0.02	0.07	-1.57	-4.86	22.23	59.62	18.86
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-0.18	0.26	2.38	-4.99	17.19	62.26	19.21
BLACKROCK GLOBAL FUNDS - EURO SHORT DURATION BOND FUND - EURA2 (MI9P)	1.07	0.49	0.58	-0.18	-4.17	-1.36	-1.28
POWERSHARES DYNAMIC FOOD & BEVERAGE PORTFOLIO (P3W8)	0.68	0.67	0.26	2.22	0.55	8.07	2.78
SCHRODER INTERNATIONAL SELECTION FUND - ASIAN BOND ABSOLUTE RETURN - C (HV81)	0.40	0.94	0.48	0.66	-3.60	1.60	-0.21

Best Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
SPDR S&P METALS & MINING ETF (SSGG)	-0.35	3.19	-4.91	-3.91	26.90	109.31	31.85
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-2.48	17.08	-1.68	4.27	20.28	101.01	30.97
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-3.64	16.29	-4.98	2.81	18.63	94.27	27.68
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.74	19.18	-2.21	10.88	13.64	70.26	23.14
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-3.32	17.73	-4.15	7.81	0.06	66.89	17.65
ALLIANZ ROHSTOFFONDS - A (DJFK)	-1.23	8.46	-3.66	-1.83	22.19	65.08	20.45
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-0.18	0.26	2.38	-4.99	17.19	62.26	19.21
FIRST JANATA BANK MUTUAL FUND (1JANATA)	-2.70	9.66	-0.02	-13.90	54.43	61.55	25.52
HSBC GLOBAL INVESTMENT FUNDS - RUSSIA EQUITY (XU8R)	-0.02	0.07	-1.57	-4.86	22.23	59.62	18.86
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)	-6.81	3.04	-7.48	3.05	30.62	59.19	21.35
JPMORGAN FUNDS - GLOBAL NATURAL RESOURCES FUND (JP5B)	0.17	6.87	-2.64	-1.77	15.79	56.96	17.09
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	2.28	-3.24	0.10	-4.54	19.64	53.97	17.29
HSBC MSCI RUSSIA CAPPED UCITS ETF $ (H4ZM)	1.40	-3.37	-1.54	-4.57	20.63	53.63	17.04
ABERDEEN LATIN AMERICA EQUITY FUND INC (LT4)	-2.09	13.54	-0.75	3.58	5.10	51.32	14.81
ISHARES MSCI RUSSIA CAPPED ETF (BK0B)	0.30	-3.02	-2.07	-6.53	19.14	50.72	15.32
JPMORGAN FUNDS - RUSSIA FUND - A$ (FH5Q)	1.16	2.12	0.40	-4.03	16.80	50.22	15.85
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	0.17	14.65	-1.84	-1.81	11.63	49.42	14.35
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-0.50	16.84	2.42	5.62	5.12	48.15	15.33
DB X-TRACKERS - MSCI RUSSIA CAPPED INDEX UCITS ETF - 2D (XMRC)	-0.82	-2.82	-1.63	-3.98	16.99	46.85	14.56
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-0.98	15.91	0.58	5.10	9.39	46.49	15.39

Worst Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	-0.20	-9.17	0.72	-5.38	-8.98	-28.32	-10.49
YINHUA CONSUMPTION THEME FUND (150048)	-1.59	1.27	0.15	0.49	-7.52	-17.27	-6.04
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	1.98	11.14	2.62	8.64	-7.60	-12.47	-2.20
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-0.61	12.15	3.21	10.33	-4.65	-8.23	0.16
DWS INVEST - CHINA BONDS (DI4Q)	0.70	4.66	0.50	0.89	-6.32	-2.47	-1.85
BLACKROCK GLOBAL FUNDS - EURO SHORT DURATION BOND FUND - EURA2 (MI9P)	1.07	0.49	0.58	-0.18	-4.17	-1.36	-1.28
HARVEST GOLD FUND (160719)	0.31	6.89	1.79	4.27	-5.28	-1.05	-0.07
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-0.31	9.47	3.89	7.42	-9.10	-0.41	0.45
ISHARES MSCI TURKEY ETF (ISVZ)	-0.03	9.85	-0.10	12.76	-4.82	-0.21	1.91
YINHUA CSI CHINA MAINLAND NATURAL RESOURCE INDEX FUND (150059)	-0.96	-2.65	-1.41	-3.50	-5.68	0.05	-2.64
HSBC MSCI TURKEY UCITS ETF (H4Z2)	0.70	11.18	0.60	13.78	-4.33	0.14	2.55
E FUND GOLD THEME FUND QDII LOF (161116)	0.44	6.87	1.60	4.45	-4.46	0.39	0.50
ISHARES MSCI MALAYSIA ETF (ISVF)	0.04	5.62	-0.10	0.37	-6.09	0.94	-1.22
ACMBERNSTEIN SICAV - RMB INCOME PLUS PORTFOLIO (AXB2)	0.46	3.25	0.58	1.37	-2.22	1.03	0.19
DWS GOLD PLUS (DI4GR)	0.88	9.30	2.18	5.33	-4.92	1.15	0.93
AVANA INDEXTREND EUROPA CONTROL - R (AICB)	0.17	-0.14	0.20	0.09	-5.07	1.49	-0.82
SCHRODER INTERNATIONAL SELECTION FUND - ASIAN BOND ABSOLUTE RETURN - C (HV81)	0.40	0.94	0.48	0.66	-3.60	1.60	-0.21
SPDR GOLD SHARES (GLD)	0.26	8.39	1.69	6.05	-4.63	1.64	1.19
POWERSHARES DB AGRICULTURE FUND (P44A)	0.17	1.74	-1.32	-1.29	0.57	2.01	-0.01
ISHARES GOLD TRUST (I6HB)	-0.67	8.80	1.63	5.24	-4.61	2.40	1.17

Top 5 fund winners and Top 5 losers by country by inflow

Russia Inflows

assclass	profile	flow USD mln$
Fixed Income	DWS Russia Bond Fund is a "specialized"	32.45
Equity	JPMorgan Funds - Russia Fund is an open-end	7.79
Equity	JPMorgan Funds - Russia Fund is an open-end	7.63
Equity	JPMorgan Russian Securities plc is an investment	5.09
Equity	LYXOR ETF RUSSIA (Dow Jones Russia GDR) -	2.56

Russia Outflows

assclass	profile	flow USD mln$
Equity	Source RDX UCITS ETF is a UCITS compliant	-53.17
Equity	East Capital - Russian Fund is an open-end	-37.69
Equity	Market Vectors Russia ETF is an exchange-traded	-33.60
Equity	Swedbank Robur Rysslandsfonden is an open-end	-32.01
Equity	East Capital Lux - Russian Fund is an open-end	-28.69

Source: MidLincoln Research

China Inflows

assclass	profile	flow USD mln$
Equity	CSOP FTSE China A50 ETF is an exchange-traded	60.22
Equity	iShares Asia Trust - iShares FTSE A50 China	28.55
Equity	KB China Mainland A Share Leverage Securities	7.17
Equity	LYXOR UCITS ETF CHINA ENTERPRISE HSCEI -	5.54
Equity	Aberdeen Greater China Fund, Inc. is a non-diversified,	5.27

China Outflows

assclass	profile	flow USD mln$
Equity	Hang Seng Investment Index Funds Series -	-223.74
Equity	HSBC Global Investment Funds - Chinese	-118.65
Equity	HSBC Global Investment Funds - Chinese Equity	-44.79
Equity	First State Global Umbrella PLC - China	-19.60
Equity	ChinaAMC ETF Series - ChinaAMC CSI 300 Index	-12.88

Source: MidLincoln Research

South Africa Inflows

assclass	profile	flow USD mln$
Equity	NEXT FUNDS FTSE/JSE Africa Top40 Linked	0.08
Equity	NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange	0.08
Equity	HSBC MSCI South Africa UCITS ETF is an exchange-traded	0.03
Equity	iShares MSCI South Africa UCITS ETF is an	0.00
Equity	The RBS Market Access FTSE/JSE Africa Top40	-0.10

South Africa Outflows

assclass	profile	flow USD mln$
Equity	iShares MSCI South Africa ETF is an exchange-traded	-10.98
Equity	The Lyxor South Africa ETF is a UCITS compliant	-1.01
Equity	The Lyxor South Africa ETF is a UCITS	-1.01
Equity	The RBS Market Access FTSE/JSE Africa Top40	-0.10
Equity	iShares MSCI South Africa UCITS ETF is an	0.00

Source: MidLincoln Research

Korea Inflows

assclass	profile	flow USD mln$
Equity	INVESCO Korean Equity Fund is a UCITS certified	3.41
Equity	Value Korea ETF is an exchange-traded fund	0.18
Equity		0.03
Equity	WisdomTree Korea Hedged Equity Fund is an	0.01
Equity	Deutsche X-trackers MSCI South Korea Hedged	0.00

Korea Outflows

assclass	profile	flow USD mln$
Equity	iShares MSCI South Korea Capped ETF is an	-4.93
Equity	JPMorgan Korea Fund is a unit trust incorporated	-3.65
Equity	Matthews Korea Fund is an open-end fund	-3.57
Equity	db x-trackers - MSCI Korea TRN Index	-3.03
Equity	Korea Fund, Inc. is a non-diversified, closed-end	-2.31

Source: MidLincoln Research

India Inflows

assclass	profile	flow USD mln$
Equity	India Fund, Inc. is a non-diversified, closed-end	15.86
Equity	India Fund, Inc. is a non-diversified,	15.86
Equity	Aberdeen Global - India Equity Fund is	9.88
Fixed Income	K Debt Opportunities Fund Ltd is an open-end	4.13
Equity	HSBC Global Investment Funds - Indian Equity	2.60

India Outflows

assclass	profile	flow USD mln$
Equity	Franklin Templeton Investment Funds - Franklin	-57.75
Equity	iShares MSCI India Index ETF is an exchange-traded	-26.24
Equity	The Lyxor ETF MSCI India is a UCITS compliant	-24.19
Equity	Aberdeen Global - India Equity Fund is	-20.73
Equity	HSBC Global Investment Funds - Indian Equity	-20.60

Source: MidLincoln Research

Turkey Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Turkey ETF is an exchange-traded	1.28
Equity		0.27
Equity	HSBC MSCI TURKEY UCITS ETF is an open-end,	0.27
Equity	db x-trackers MSCI Turkey Index UCITS ETF	-0.02
Equity	DJ TURKEY TITANS 20 THEAM EASY UCITS ETF	-0.03

Turkey Outflows

assclass	profile	flow USD mln$
Equity	The Lyxor ETF Turkey (DJ Turkey Titans 20)	-0.68
Equity	iShares MSCI Turkey UCITS ETF is an open-end,	-0.49
Equity	The RBS Market Access Dow Jones Turkey Titans	-0.06
Equity	DJ TURKEY TITANS 20 THEAM EASY UCITS ETF	-0.03
Equity	db x-trackers MSCI Turkey Index UCITS ETF	-0.02

Source: MidLincoln Research

Brazil Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Brazil Capped ETF is an exchange-traded	169.63
Equity	Lyxor ETF Brazil (Ibovespa) USD is an exchange	12.88
Equity	Lyxor ETF Brazil (IBOVESPA) EUR is an exchange	9.87
Fixed Income	HSBC Global Investment Funds - Brazil Bond	8.12
Equity	iShares MSCI Brazil UCITS ETF (Dist) is an	5.26

Brazil Outflows

assclass	profile	flow USD mln$
Fixed Income	Santander FIC FI Renda Fixa I Credito Privado	-10.37
Equity	JPMorgan Funds - Brazil Equity is an open-end	-4.50
Equity	JPMorgan Funds - Brazil Equity is an open-end	-4.38
Equity	Direxion Daily Brazil Bull 3x Shares is an	-2.29
Fixed Income	DWS Brazil Bond Fund is an open-end investment	-1.03

Source: MidLincoln Research

Australia Inflows

assclass	profile	flow USD mln$
Fixed Income		17.48
Equity	Fidelity Funds - Australia Fund is an open-end	6.57
Equity	Fidelity Funds - Australia Fund is an open-end	6.31
Equity	Australia Equity Income Fund is an open-end	5.77
Equity	Aberdeen Australia Equity Fund, Inc. is a	1.91

Australia Outflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Australia ETF is an exchange-traded	-17.35
Equity	Swisscanto AST Avant Aktien Ausland Index	-12.72
Equity	iShares MSCI Australia UCITS ETF is an open-end,	-5.85
Equity	Candriam Equities L - Australia is a SICAV	-2.81
Equity	UBS (Lux) Equity Fund - Australia (AUD) is	-2.34

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

research@midlincoln.com

Chart: Weekly Fund Flows For Select GEM Countries

Top 20 Funds Longs Based on Momentum

Top 20 Funds Shorts Based on Momentum

Best Fundses last Week

Worst Funds last Week

Best Funds last Month

Worst Funds last Month

Best Funds YTD

Worst Funds YTD

Best Funds 1yr

Worst Funds 1yr

· Midlincoln Research · midlincoln.com