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	-19.99
Commodities	PRECIOUS METAL SECTOR	Equity	1839.69
Commodities	PRECIOUS METALS	Commodity	-74.26
Commodities	PRECIOUS METALS	Mixed Allocation	-28.04
country	AUSTRALIA	Equity	-540.03
country	AUSTRALIA	Fixed Income	-44.21
country	AUSTRALIA	Mixed Allocation	0.30
country	BRAZIL	Equity	58.50
country	BRAZIL	Fixed Income	-201.27
country	CHINA	Equity	-324.02
country	CHINA	Fixed Income	-13.19
Country	EGYPT	Equity	-0.26
country	INDIA	Equity	-113.43
country	INDIA	Fixed Income	13.13
country	ISRAEL	Equity	-1.30
country	JAPAN	Equity	-612.37
country	JAPAN	Fixed Income	-30.64
country	JAPAN	Mixed Allocation	-1.96
country	KOREA	Equity	20.98
country	POLAND	Equity	-7.18
country	RUSSIA	Equity	-342.40
country	RUSSIA	Fixed Income	19.41
country	SOUTH AFRICA	Equity	-3.27
country	SPAIN	Equity	-19.02
Country	TAIWAN	Equity	-25.23
country	TURKEY	Equity	-7.94
country	UNITED KINGDOM	Equity	-131.04
industry	BASIC MATERIALS SECTOR	Equity	112.55
industry	COMMUNICATIONS SECTOR	Equity	-99.57
industry	ENERGY SECTOR	Equity	-521.43
industry	ENERGY SECTOR	Mixed Allocation	-0.21
industry	FINANCIAL SECTOR	Equity	271.56
industry	HEALTH CARE SECTOR	Equity	-476.52
industry	INDUSTRIAL SECTOR	Equity	-36.74
industry	MULTIPLE SECTOR	Equity	-1.04
industry	NATURAL RESOURCES SECTOR	Equity	-169.20
industry	REAL ESTATE SECTOR	Alternative	0.07
industry	REAL ESTATE SECTOR	Equity	501.07
industry	TECHNOLOGY SECTOR	Equity	1423.36
industry	UTILITIES SECTOR	Equity	-702.89
region	AFRICAN REGION	Equity	-10.23
region	AFRICAN REGION	Fixed Income	-0.47
region	ASIAN PACIFIC REGION	Equity	191.14
region	ASIAN PACIFIC REGION	Fixed Income	-30.97
region	ASIAN PACIFIC REGION	Mixed Allocation	-34.35
region	ASIAN PACIFIC REGION EX JAPAN	Equity	-411.74
region	ASIAN PACIFIC REGION EX JAPAN	Fixed Income	-68.14
region	ASIAN PACIFIC REGION EX JAPAN	Mixed Allocation	-98.63
region	EASTERN EUROPEAN REGION	Equity	-55.75
region	EASTERN EUROPEAN REGION	Fixed Income	-3.55
region	EASTERN EUROPEAN REGION	Mixed Allocation	-1.39
region	EUROPEAN REGION	Equity	-641.93
region	EUROPEAN REGION	Fixed Income	-717.70
region	EUROPEAN REGION	Mixed Allocation	-1.37
region	LATIN AMERICAN REGION	Equity	-11.86
region	LATIN AMERICAN REGION	Fixed Income	-0.72
region	MIDDLE EAST REGION	Equity	-6.39
region	MIDDLE EAST REGION	Fixed Income	-0.26
region	NORDIC REGION	Equity	-132.68
region	NORTH AMERICAN REGION	Equity	-302.17
region	NORTH AMERICAN REGION	Fixed Income	-115.18
Risk	GOVERNMENT BOND	Alternative	30.44
Risk	GOVERNMENT BOND	Equity	0.20
Risk	GOVERNMENT BOND	Fixed Income	-754.32
Risk	GOVERNMENT BOND	Mixed Allocation	-4.11
Risk	INFLATION PROTECTED	Brazil	-13.23
Risk	INFLATION PROTECTED	Fixed Income	266.47
Risk	INFLATION PROTECTED	Mixed Allocation	11.13
Risk	LONG SHORT	Alternative	-82.74
Risk	LONG SHORT	Equity	-377.70
Risk	LONG SHORT	Fixed Income	-10.05
Risk	LONG SHORT	Mixed Allocation	-0.17
Sector	AGRICULTURE	Commodity	-55.21
Sector	AGRICULTURE	Equity	0.00
Sector	CONSUMER DISCRETIONARY	Equity	-166.91
Sector	CONSUMER STAPLES	Equity	785.90
segment	BRIC	Equity	-5.09
segment	BRIC	Fixed Income	-80.58
segment	DEVELOPED MARKETS	Equity	-398.60
segment	EMEA	Equity	-7.06
segment	EMEA	Fixed Income	0.01
segment	EMERGING MARKETS	Equity	2512.73
segment	GCC	Equity	-0.72
segment	GCC	Fixed Income	0.16
segment	GCC	Mixed Allocation	-6.72
segment	MENA	Equity	-2.08
segment	MENA	Fixed Income	-3.31
Size	LARGE-CAP	Equity	5609.70
Size	MID-CAP	Commodity	-1.39
Size	MID-CAP	Equity	989.41
Size	SMALL-CAP	Equity	1039.98

Source: Midlincoln Research

Fund Aggregates

Chart: Fund Flows into Key Commodities Funds

Source: ML

Download file in Power Point

Emerging markets fund flow showed 2512.7 USD mn of inflow. While Frontier Markets funds showed -0.2 USD mn of outflows.

BRAZIL Equity funds showed 58.5 USD mn of inflow.
BRAZIL Fixed Income funds showed -201.3 USD mn of outflow.
CHINA Equity funds showed -324.0 USD mn of outflow.
CHINA Fixed Income funds showed -13.2 USD mn of outflow.
INDIA Equity funds showed -113.4 USD mn of outflow.
INDIA Fixed Income funds showed 13.1 USD mn of inflow.
KOREA Equity funds showed 21.0 USD mn of inflow.
RUSSIA Equity funds showed -342.4 USD mn of outflow.
RUSSIA Fixed Income funds showed 19.4 USD mn of inflow.
SOUTH AFRICA Equity funds showed -3.3 USD mn of outflow.
TURKEY Equity funds showed -7.9 USD mn of outflow.

COMMUNICATIONS SECTOR Equity funds showed -99.6 USD mn of outflow.
ENERGY SECTOR Equity funds showed -521.4 USD mn of outflow.
ENERGY SECTOR Mixed Allocation funds showed -0.2 USD mn of outflow.
FINANCIAL SECTOR Equity funds showed 271.6 USD mn of inflow.
REAL ESTATE SECTOR Alternative funds showed 0.1 USD mn of inflow.
REAL ESTATE SECTOR Equity funds showed 501.1 USD mn of inflow.
TECHNOLOGY SECTOR Equity funds showed 1423.4 USD mn of inflow.
UTILITIES SECTOR Equity funds showed -702.9 USD mn of outflow.

LONG SHORT Alternative funds showed -82.7 USD mn of outflow.
LONG SHORT Equity funds showed -377.7 USD mn of outflow.
LONG SHORT Fixed Income funds showed -10.1 USD mn of outflow.
LONG SHORT Mixed Allocation funds showed -0.2 USD mn of outflow.

Markets

Best global markets since the begining of the week EUROPE +1.13%, USA +0.56%, FM (FRONTIER MARKETS)-0.30%,

While worst global markets since the begining of the week EM LATIN AMERICA -1.37%, EM (EMERGING MARKETS) -0.76%, EFM ASIA -0.56%,

Best since the start of the week among various stock markets were ITALY +4.16%, IRELAND +3.30%, KAZAKHSTAN +3.28%, BOSNIA AND HERZEGOVINA +2.60%, SPAIN +2.51%, GREECE +2.33%, AUSTRIA +2.06%, FRANCE +1.81%, SERBIA +1.78%, POLAND +1.78%,

While worst since the start of the week among various stock markets were KENYA -3.87%, COLOMBIA -2.93%, GHANA -2.63%, EGYPT -2.51%, BAHRAIN -2.51%, RUSSIA -2.39%, ESTONIA -2.24%, BOTSWANA -2.15%, UNITED ARAB EMIRATES -2.13%, BRAZIL -2.10%,

Key Fund Flow Headlines

FUND FLOWS: European Equity Inflows Hit Year High

Brazil, Russia piped India in FPI fund flow last month

The Most Attractive Market Picks as Funds Flow Back to Asia

FUND FLOWS: Investors Continue to Pull Money from Italy ...

Hearty appetite for US equity funds since November election

Emerging market ETFs and the jaws of death

Brazil, Russia piped India in FPI fund flow last month

Hearty appetite for US equity funds since November election

FUND FLOWS: Brazil Equity Leads Emerging Market Fund Flows

Are emerging markets entering a new virtuous cycle?

FUND FLOWS: Money Flowing Into Fixed Income

Big reversal in mutual fund flows on Trump plans

Fixed Income Mutual Fund Flows Signal of Trump Worries?

FUND FLOWS: US Bonds Still Pulling in Fresh Money

FUND FLOWS: Emerging Market Bonds Reach 19-Week High

Top 20 Funds Longs Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
SANTANDER FIC FI VALE 3 ACOES (REALRIO)	1.56	8.70	35.14	89.63	158.66	64.64
BB ACOES SIDERURGIA FICFI (BBACOSI)	2.24	3.88	25.19	36.90	194.10	59.28
CANADIAN LIFE COS SPLIT CORP (LFE)	-1.36	3.94	11.70	109.00	103.29	53.72
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-7.75	-3.21	36.10	12.39	177.66	44.77
LYXOR ETF BRAZIL IBOVESPA (LYMG)	-0.60	18.87	21.54	15.77	105.01	34.76
SECURITY - FONDO DE INVERSION IFUND MSCI BRAZIL SMALL CAP INDEX (IFBRASC)	1.35	6.56	27.61	23.61	100.37	32.97
FIA MERLOT (MAXPOWR)	-4.91	-8.46	3.25	30.64	114.21	32.87
MAXWELL POWER (MAXPOWR)	-4.91	-8.46	3.25	30.64	114.21	32.87
SANTANDER FIC FI PETROBRAS 3 ACOES (REALPET)	3.13	0.88	1.48	8.88	116.26	32.29
FIRST JANATA BANK MUTUAL FUND (1JANATA)	-0.14	-3.07	9.52	57.55	64.87	29.80
CANADIAN BANC CORP (BK)	-1.14	1.49	11.57	29.98	80.46	27.70
BB ACOES INFRAESTRUTURA FIC FI (BBACINF)	1.74	5.35	21.38	18.38	80.41	26.47
BB ACOES SETOR FINANCEIRO FIC FI (BBACOEB)	0.29	5.52	20.66	20.26	78.78	26.21
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-2.69	3.67	16.46	20.29	83.14	26.10
NEUBERGER BERMAN MLP INCOME FUND INC (XNMLX)	0.80	-1.00	7.23	19.25	85.36	26.10
FINANCIAL 15 SPLIT CORP (FTN)	-2.28	-2.40	10.44	32.48	75.52	25.83
KAYNE ANDERSON ENERGY TOTAL RETURN FUND INC (KYE)	1.42	0.55	9.23	20.61	77.73	25.08
LIFE & BANC SPLIT CORP (LBS)	-1.32	0.71	7.39	32.53	65.75	24.42
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-6.41	0.75	37.60	12.78	89.63	24.19
KAYNE ANDERSON ENERGY TOTAL RETURN FUND INC (XKYEX)	1.06	-3.05	-0.67	14.83	82.30	23.79

Top 20 Funds Shorts Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
DIREXION DAILY GOLD MINERS BULL 3X SHARES (NUGT)	-26.38	-30.28	8.51	-61.99	-32.73	-37.85
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	4.19	-1.27	-23.49	-29.49	-73.93	-25.13
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	1.74	-31.24	-65.84	-56.26	-6.07	-22.96
LYXOR ETF FTSE MIB DAILY DOUBLE SHORT XBEAR (XBRMIB)	-8.97	-6.26	-4.00	-32.13	-37.01	-21.09
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	-5.39	-7.46	-9.07	-26.33	-38.55	-19.43
SPOTR BEAR OMXS30 (SPBEAOMX)	-2.54	-7.18	-9.56	-25.56	-39.06	-18.59
DB X-TRACKERS SHORTDAX DAILY UCITS ETF (XSDX)	-3.47	-6.04	-5.87	-18.10	-26.28	-13.47
LYXOR ETF FTSE MIB DAILY SHORT BEAR (BERMIB)	-5.01	-4.38	-2.27	-19.66	-20.25	-12.33
ETFS DAILY SHORT COPPER (SCOP)	0.08	-2.53	-7.51	-24.40	-21.27	-12.03
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	-0.60	-2.58	-11.28	-22.97	-20.63	-11.70
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	-3.29	-5.22	-4.95	-16.40	-21.63	-11.63
COMSTAGE ETF CAC 40 SHORT GR UCITS ETF (CBCACSEU)	-3.37	-5.34	-3.25	-15.56	-21.66	-11.48
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-8.20	-2.06	3.56	-13.82	-18.67	-10.69
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	1.03	-6.76	-10.16	-8.06	-25.62	-9.85
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - D2RF GBP HEDGED (BWGD2RF)	-10.06	-8.24	2.84	-22.31	3.70	-9.23
DB X-TRACKERS II IBOXX GLOBAL INFLATION-LINKED UCITS ETF-GBP (X03E)	-3.26	-1.32	2.49	-11.31	-19.21	-8.78
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	-10.68	-10.97	3.31	-22.35	9.65	-8.59
CHANGSHENG TELECOM INDUSTRY FUND (CHTEINF)	-0.88	2.06	-1.61	-15.79	-19.37	-8.50
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-6.40	-1.40	2.76	-15.47	-9.46	-8.18
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	2.05	-5.03	-7.11	-5.37	-24.01	-8.09

Best Fundses last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
LYXOR ETF IBEX 35 DOBLE APALANCADO DIARIO (IBEXA)	-0.37	7.69	4.37	2.00	13.38	18.92	9.67
AMUNDI ETF FTSE MIB UCITS ETF (FMI)	-0.21	0.45	3.71	-1.17	7.14	5.16	3.71
ISHARES MSCI ITALY CAPPED ETF (ISVQ)	-0.06	-1.10	2.38	-0.61	6.59	4.57	3.23
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.38	14.53	2.17	10.05	11.31	20.18	10.93
COMSTAGE ETF SMI UCITS ETF (C030)	0.27	6.52	2.07	1.04	5.87	14.63	5.90
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	2.33	-7.11	2.05	-5.03	-5.37	-24.01	-8.09
UBS ETF - MSCI SWITZERLAND 20/35 100% HEDGED TO USD UCITS ETF (S2USBH)	-0.23	6.10	1.82	3.96	5.99	13.16	6.23
DB X-TRACKERS IBEX 35 INDEX UCITS ETF DR (DXIBX)	-0.38	3.64	1.79	-0.33	4.18	10.60	4.06
LYXOR UCITS ETF BEL 20 TR (BEL)	-0.07	2.23	1.61	-0.90	-4.25	5.35	0.45
BBVA ACCION IBEX 35 ETF (BBVAI)	-0.44	3.61	1.57	-0.41	4.04	10.39	3.90
ISHARES MSCI SPAIN CAPPED ETF (ISVS)	-1.15	5.55	1.47	-0.58	5.50	9.18	3.89
UBS ETF MSCI UNITED KINGDOM 100% HEDGED TO USD UCITS ETF (UKUSBH)	-0.11	4.21	1.44	2.96	8.65	24.60	9.41
INVESCO PAN EUROPEAN STRUCTURED EQUITY FUND - A (IUGL)	0.47	4.07	1.41	1.13	-1.33	4.57	1.45
AMUNDI ETF MSCI SWITZERLAND UCITS ETF (CSWCHF)	-0.54	5.37	1.35	1.49	0.78	7.92	2.89
FIRST STATE INVESTMENTS ICVC - ASIA PACIFIC LEADERS FUND - A (F7H6)	0.93	6.88	1.32	2.84	-0.22	7.03	2.74
FIDELITY FUNDS - NORDIC FUND (FJR8)	0.62	9.20	1.29	-0.08	16.53	39.02	14.19
BLACKROCK GLOBAL FUNDS - WORLD HEALTHSCIENCE FUND - EURA2 (ERDV)	-0.16	10.12	1.25	5.94	3.10	12.90	5.80
UBS ETF - MSCI SWITZERLAND 20/35 100% HEDGED TO EUR UCITS ETF (S2EUBH)	-0.13	5.41	1.21	1.26	-1.17	7.02	2.08
DB X-TRACKERS DAX UCITS ETF DR 1C (XDAX)	-0.53	3.93	1.13	0.32	5.72	17.89	6.27
UBS ETF - MSCI SWITZERLAND 20/35 UCITS ETF (SW2CHB)	-0.29	5.90	1.12	1.75	1.13	8.59	3.15

Worst Funds last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-1.17	4.07	-14.56	-10.65	-19.53	36.62	-2.03
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	-0.95	3.31	-10.68	-10.97	-22.35	9.65	-8.59
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)	0.01	-0.09	-9.61	-5.60	32.66	56.37	18.46
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-3.84	3.56	-8.20	-2.06	-13.82	-18.67	-10.69
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-2.63	-6.20	-6.64	-9.44	8.83	41.52	8.57
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-2.98	2.76	-6.40	-1.40	-15.47	-9.46	-8.18
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-2.82	13.41	-6.06	-0.91	14.49	63.16	17.67
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-1.91	15.41	-5.83	9.42	6.89	47.55	14.51
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-2.84	13.20	-5.73	1.10	17.81	79.16	23.08
KB CHINA MAINLAND A SHARE LEVERAGE SEC FEEDER INVST TRUST-EQUITY-DERV FOF (3AF8926)	-2.33	10.57	-5.49	-3.80	-1.01	24.09	3.45
KB CHINA MAINLAND A SHARE LEVERAGE SEC MASTER INVST TRUST-EQUITY-DERV FOF (3AF8884)	-2.32	11.00	-5.44	-3.63	0.06	26.86	4.46
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	0.51	-9.07	-5.39	-7.46	-26.33	-38.55	-19.43
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-3.65	11.64	-5.17	0.72	14.99	75.10	21.41
LATIN AMERICAN DISCOVERY FUND INC/THE (LDF)	-2.55	10.38	-4.80	0.24	1.32	28.16	6.23
ABERDEEN LATIN AMERICA EQUITY FUND INC (LT4)	-2.68	10.46	-4.77	1.36	2.85	34.91	8.59
SCHRODER BRICS SECURITIES FEEDER INVESTMENT TRUST A - EQUITY (0525291)	-0.46	11.27	-4.28	-0.22	1.43	30.48	6.85
GLOBAL X FTSE COLOMBIA 20 ETF (4GXB)	-0.10	-1.82	-4.18	-7.49	-4.24	7.71	-2.05
MARKET VECTORS AFRICA INDEX ETF (VEF2)	-0.49	1.94	-4.15	-5.06	1.27	16.53	2.15
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	-0.55	9.90	-3.99	-6.20	9.85	34.34	8.50
ISHARES MSCI SOUTH AFRICA ETF (ISVW)	-1.49	3.91	-3.98	-0.11	5.41	17.90	4.81

Best Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.38	14.53	2.17	10.05	11.31	20.18	10.93
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-1.91	15.41	-5.83	9.42	6.89	47.55	14.51
BLACKROCK GLOBAL FUNDS - WORLD HEALTHSCIENCE FUND - EURA2 (ERDV)	-0.16	10.12	1.25	5.94	3.10	12.90	5.80
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-1.44	15.21	-1.58	5.79	9.00	22.48	8.92
LYXOR ETF WIG20 (ETFW20L)	-1.23	16.90	1.06	5.19	21.29	19.13	11.67
ISHARES MSCI POLAND UCITS ETF (IPOL)	-0.66	17.84	0.49	5.02	21.23	18.07	11.20
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - C-USD (LRX3)	-1.84	8.92	-2.75	4.79	6.25	24.71	8.25
ISHARES DOW JONES INDUSTRIAL AVERAGE UCITS ETF DE (INDUEX)	-0.34	5.70	0.66	4.50	13.89	25.49	11.14
GAM STAR FUND PLC - CHINA EQUITY (GAF4)	0.22	13.14	-0.16	4.46	4.21	18.75	6.81
HSBC CHINA DRAGON FUND (820)	-1.20	9.32	-1.43	4.44	5.23	23.44	7.92
NEW INDIA INVESTMENT TRUST PLC (NIQ)	0.37	10.60	-0.96	4.41	-0.88	19.66	5.56
HANG SENG INVESTMENT INDEX FUNDS SERIES - H-SHARE INDEX ETF (2828)	-1.09	7.90	-2.90	4.32	4.49	24.64	7.64
BAILLIE GIFFORD JAPAN TRUST PLC/THE (BGFD)	-1.02	11.03	-0.21	4.15	10.59	19.66	8.55
BARING INTERNATIONAL UMBRELLA - BARING HONG KONG CHINA FUND - A-USD (BYQB)	0.18	11.39	-0.71	4.14	1.29	19.69	6.10
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - USD (ASI)	-0.90	7.63	-3.03	4.12	4.20	24.91	7.55
INDUSTRIAL SELECT SECTOR SPDR FUND (SD7X)	-0.22	5.96	1.03	4.11	13.86	27.16	11.54
ISHARES MSCI ISRAEL CAPPED ETF (ISVY)	-0.24	8.68	0.37	4.07	2.88	10.84	4.54
ABERDEEN GLOBAL - INDIAN EQUITY FUND - A2 (AEF2)	0.55	10.64	0.38	4.06	-3.19	16.42	4.42
MARKET VECTORS RETAIL ETF (VEFW)	-0.17	3.88	-0.31	3.98	2.12	9.00	3.70
UBS ETF - MSCI SWITZERLAND 20/35 100% HEDGED TO USD UCITS ETF (S2USBH)	-0.23	6.10	1.82	3.96	5.99	13.16	6.23

Worst Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.38	14.53	2.17	10.05	11.31	20.18	10.93
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-1.91	15.41	-5.83	9.42	6.89	47.55	14.51
BLACKROCK GLOBAL FUNDS - WORLD HEALTHSCIENCE FUND - EURA2 (ERDV)	-0.16	10.12	1.25	5.94	3.10	12.90	5.80
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-1.44	15.21	-1.58	5.79	9.00	22.48	8.92
LYXOR ETF WIG20 (ETFW20L)	-1.23	16.90	1.06	5.19	21.29	19.13	11.67
ISHARES MSCI POLAND UCITS ETF (IPOL)	-0.66	17.84	0.49	5.02	21.23	18.07	11.20
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - C-USD (LRX3)	-1.84	8.92	-2.75	4.79	6.25	24.71	8.25
ISHARES DOW JONES INDUSTRIAL AVERAGE UCITS ETF DE (INDUEX)	-0.34	5.70	0.66	4.50	13.89	25.49	11.14
GAM STAR FUND PLC - CHINA EQUITY (GAF4)	0.22	13.14	-0.16	4.46	4.21	18.75	6.81
HSBC CHINA DRAGON FUND (820)	-1.20	9.32	-1.43	4.44	5.23	23.44	7.92
NEW INDIA INVESTMENT TRUST PLC (NIQ)	0.37	10.60	-0.96	4.41	-0.88	19.66	5.56
HANG SENG INVESTMENT INDEX FUNDS SERIES - H-SHARE INDEX ETF (2828)	-1.09	7.90	-2.90	4.32	4.49	24.64	7.64
BAILLIE GIFFORD JAPAN TRUST PLC/THE (BGFD)	-1.02	11.03	-0.21	4.15	10.59	19.66	8.55
BARING INTERNATIONAL UMBRELLA - BARING HONG KONG CHINA FUND - A-USD (BYQB)	0.18	11.39	-0.71	4.14	1.29	19.69	6.10
LYXOR UCITS ETF CHINA ENTERPRISE HSCEI - USD (ASI)	-0.90	7.63	-3.03	4.12	4.20	24.91	7.55
INDUSTRIAL SELECT SECTOR SPDR FUND (SD7X)	-0.22	5.96	1.03	4.11	13.86	27.16	11.54
ISHARES MSCI ISRAEL CAPPED ETF (ISVY)	-0.24	8.68	0.37	4.07	2.88	10.84	4.54
ABERDEEN GLOBAL - INDIAN EQUITY FUND - A2 (AEF2)	0.55	10.64	0.38	4.06	-3.19	16.42	4.42
MARKET VECTORS RETAIL ETF (VEFW)	-0.17	3.88	-0.31	3.98	2.12	9.00	3.70
UBS ETF - MSCI SWITZERLAND 20/35 100% HEDGED TO USD UCITS ETF (S2USBH)	-0.23	6.10	1.82	3.96	5.99	13.16	6.23

Best Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
JPMORGAN INDIAN INVESTMENT TRUST PLC (3J8)	-0.19	29.02	-0.89	1.65	-7.92	21.56	3.60
ISHARES MSCI POLAND UCITS ETF (IPOL)	-0.66	17.84	0.49	5.02	21.23	18.07	11.20
LYXOR ETF WIG20 (ETFW20L)	-1.23	16.90	1.06	5.19	21.29	19.13	11.67
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-1.91	15.41	-5.83	9.42	6.89	47.55	14.51
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-1.44	15.21	-1.58	5.79	9.00	22.48	8.92
GLOBAL X FTSE ARGENTINA 20 ETF (GX0A)	-0.32	14.55	-0.33	-0.36	15.38	40.23	13.73
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	0.38	14.53	2.17	10.05	11.31	20.18	10.93
FONDUL PROPRIETATEA SA/FUND (FP)	-0.33	14.46	-0.18	-1.00	6.58	20.02	6.36
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-2.82	13.41	-6.06	-0.91	14.49	63.16	17.67
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-2.84	13.20	-5.73	1.10	17.81	79.16	23.08
GAM STAR FUND PLC - CHINA EQUITY (GAF4)	0.22	13.14	-0.16	4.46	4.21	18.75	6.81
HSBC GLOBAL INVESTMENT FUNDS - INDIAN EQUITY (JHSC)	0.31	12.23	-0.24	1.12	3.61	26.98	7.87
KOREA EQUITY FUND INC (KR6)	-1.24	12.02	-1.80	-0.91	3.94	17.60	4.71
FRANKLIN TEMPLETON INVESTMENT FUNDS - TEMPLETON LATIN AMERICA FUND - A YDISEUR (XQ1H)	-0.07	11.95	-0.55	1.46	2.59	27.59	7.77
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-3.65	11.64	-5.17	0.72	14.99	75.10	21.41
GOLDMAN SACHS INDIA EQUITY PORTFOLIO (GS06)	-1.23	11.61	-1.36	0.82	-1.07	19.69	4.52
FIDELITY FUNDS - LATIN AMERICA FUND - A (FJRC)	-0.82	11.60	-1.81	0.74	3.64	26.76	7.33
BARING INTERNATIONAL UMBRELLA - BARING HONG KONG CHINA FUND - A-USD (BYQB)	0.18	11.39	-0.71	4.14	1.29	19.69	6.10
BLACKROCK GLOBAL FUNDS - LATIN AMERICA FUND - EURA2 (ERDP)	0.40	11.34	-1.06	0.49	5.26	30.18	8.72
SCHRODER BRICS SECURITIES FEEDER INVESTMENT TRUST A - EQUITY (0525291)	-0.46	11.27	-4.28	-0.22	1.43	30.48	6.85

Worst Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
NEXT NOTES NIKKEI TOCOM LEVERAGED CRUDE OIL ETN (2038)	-1.70	-9.71	-3.00	-4.99	45.60	23.73	15.34
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	0.51	-9.07	-5.39	-7.46	-26.33	-38.55	-19.43
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	-1.02	-8.67	-3.48	-7.77	10.15	34.11	8.25
HSBC MSCI RUSSIA CAPPED UCITS ETF $ (H4ZM)	-1.56	-8.23	-3.73	-8.39	12.07	33.57	8.38
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	2.33	-7.11	2.05	-5.03	-5.37	-24.01	-8.09
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-2.63	-6.20	-6.64	-9.44	8.83	41.52	8.57
ISHARES MSCI RUSSIA CAPPED ETF (BK0B)	-0.22	-6.09	-2.90	-8.64	12.69	36.47	9.41
BLACKROCK GLOBAL FUNDS - WORLD ENERGY FUND (H2Z6)	-0.33	-5.51	-0.17	-5.87	-2.18	13.60	1.34
WTI CRUDE OIL PRICE LINKED ETF (1671)	-1.27	-5.25	-3.52	-3.58	11.88	21.50	6.57
UNITED STATES OIL FUND LP (U9N)	-0.02	-4.36	-2.18	-2.82	8.99	20.61	6.15
ISHARES US TELECOMMUNICATIONS ETF (ISQC)	-1.44	-4.04	-3.26	-3.65	5.29	10.90	2.32
HSBC GLOBAL INVESTMENT FUNDS - RUSSIA EQUITY (XU8R)	-0.52	-3.75	-3.87	-8.32	16.34	43.23	11.84
ISHARES GLOBAL ENERGY ETF (ISQQ)	-0.87	-3.69	-0.12	-1.97	6.28	20.35	6.14
YINHUA CSI CHINA MAINLAND NATURAL RESOURCE INDEX FUND (150059)	0.57	-2.99	-1.30	-4.34	-5.53	2.69	-2.12
MERCANTILE INVESTMENT CO LTD (21IA)	-0.88	-2.18	-2.39	-4.33	8.67	24.51	6.62
GLOBAL X FTSE COLOMBIA 20 ETF (4GXB)	-0.10	-1.82	-4.18	-7.49	-4.24	7.71	-2.05
JPMORGAN FUNDS - RUSSIA FUND - A$ (FH5Q)	0.19	-1.63	-2.59	-6.26	12.59	36.85	10.15
COMSTAGE ETF MSCI EM EASTERN EUROPE TRN UCITS ETF (CBNDUEEM)	-0.53	-1.12	-2.43	-5.18	13.05	29.55	8.75
ISHARES MSCI ITALY CAPPED ETF (ISVQ)	-0.06	-1.10	2.38	-0.61	6.59	4.57	3.23
AVANA INDEXTREND EUROPA CONTROL - R (AICB)	0.10	-1.01	-0.72	-1.27	-5.62	-0.38	-2.00

Best Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-2.84	13.20	-5.73	1.10	17.81	79.16	23.08
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-3.65	11.64	-5.17	0.72	14.99	75.10	21.41
SPDR S&P METALS & MINING ETF (SSGG)	-1.20	1.06	-2.44	-5.72	22.43	74.31	22.15
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-2.82	13.41	-6.06	-0.91	14.49	63.16	17.67
BLACKROCK WORLD MINING TRUST PLC (BRWM)	-1.04	8.91	-3.10	-7.28	18.35	58.69	16.67
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)	0.01	-0.09	-9.61	-5.60	32.66	56.37	18.46
JPMORGAN FUNDS - GLOBAL NATURAL RESOURCES FUND (JP5B)	-0.24	5.12	-1.51	-2.81	14.83	48.14	14.66
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-1.91	15.41	-5.83	9.42	6.89	47.55	14.51
HSBC GLOBAL INVESTMENT FUNDS - RUSSIA EQUITY (XU8R)	-0.52	-3.75	-3.87	-8.32	16.34	43.23	11.84
EAST CAPITAL LUX - RUSSIAN FUND (EC0A)	-2.63	-6.20	-6.64	-9.44	8.83	41.52	8.57
GLOBAL X FTSE ARGENTINA 20 ETF (GX0A)	-0.32	14.55	-0.33	-0.36	15.38	40.23	13.73
FIDELITY FUNDS - NORDIC FUND (FJR8)	0.62	9.20	1.29	-0.08	16.53	39.02	14.19
JPMORGAN FUNDS - RUSSIA FUND - A$ (FH5Q)	0.19	-1.63	-2.59	-6.26	12.59	36.85	10.15
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	-1.17	4.07	-14.56	-10.65	-19.53	36.62	-2.03
ISHARES MSCI RUSSIA CAPPED ETF (BK0B)	-0.22	-6.09	-2.90	-8.64	12.69	36.47	9.41
ABERDEEN LATIN AMERICA EQUITY FUND INC (LT4)	-2.68	10.46	-4.77	1.36	2.85	34.91	8.59
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	-0.55	9.90	-3.99	-6.20	9.85	34.34	8.50
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	-1.02	-8.67	-3.48	-7.77	10.15	34.11	8.25
HSBC MSCI RUSSIA CAPPED UCITS ETF $ (H4ZM)	-1.56	-8.23	-3.73	-8.39	12.07	33.57	8.38
ISHARES GLOBAL MATERIALS ETF (ISQU)	-1.51	6.88	-0.96	-1.56	12.01	32.18	10.42

Worst Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	0.51	-9.07	-5.39	-7.46	-26.33	-38.55	-19.43
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	2.33	-7.11	2.05	-5.03	-5.37	-24.01	-8.09
YINHUA CONSUMPTION THEME FUND (150048)	-0.33	1.43	-1.44	0.45	-6.89	-20.08	-6.99
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-3.84	3.56	-8.20	-2.06	-13.82	-18.67	-10.69
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	-0.83	7.80	-1.10	2.91	-10.56	-18.32	-6.77
MIRAE ASSET TIGER CONSUMER STAPLES ETF (139280)	-2.98	2.76	-6.40	-1.40	-15.47	-9.46	-8.18
ISHARES MSCI TURKEY ETF (ISVZ)	-0.59	7.22	-2.46	-0.24	-9.23	-8.58	-5.13
HSBC MSCI TURKEY UCITS ETF (H4Z2)	0.52	9.30	-1.03	0.78	-8.01	-7.83	-4.02
DWS GOLD PLUS (DI4GR)	-1.05	5.61	-2.55	0.23	-8.61	-5.23	-4.04
DWS INVEST - CHINA BONDS (DI4Q)	0.45	2.92	-1.00	-2.54	-8.53	-4.49	-4.14
ISHARES MSCI MALAYSIA ETF (ISVF)	-0.35	5.43	-0.17	0.90	-4.86	-4.40	-2.13
ISTANBUL GOLD EXCHANGE TRADED FUND (GLDTR)	0.07	5.79	-1.99	0.26	-7.73	-3.44	-3.23
NOMURA NEXT FUNDS FTSE BURSA MALAYSIA KLCI EXCHANGE TRADED FUND (1560)	-1.19	4.97	-2.05	-0.84	-6.57	-3.23	-3.17
ISHARES GOLD TRUST (I6HB)	-1.45	6.26	-3.02	0.20	-7.95	-3.14	-3.48
ETFS PHYSICAL GOLD/JERSEY (PHAU)	-0.95	5.74	-2.39	0.54	-7.15	-2.87	-2.97
ZKB GOLD ETF (ZGLD)	-0.79	5.81	-2.28	0.14	-7.25	-2.82	-3.05
HARVEST GOLD FUND (160719)	-0.96	4.89	-1.56	1.04	-6.83	-2.69	-2.51
XETRA-GOLD (4GLD)	-0.64	5.75	-2.53	0.61	-7.50	-2.67	-3.02
BLACKROCK GLOBAL FUNDS - EURO SHORT DURATION BOND FUND - EURA2 (MI9P)	0.84	-0.19	0.35	-1.76	-4.86	-2.47	-2.19
E FUND GOLD THEME FUND QDII LOF (161116)	-0.81	4.78	-1.53	0.84	-5.87	-1.66	-2.06

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