Fund Flows

Fund Flows

Postby winston » Sun Dec 29, 2013 7:56 pm

Stock funds worldwide attract $2.6 bln in latest week -EPFR

NEW YORK: Investors poured $2.6 billion into stock funds worldwide in the week ended Wednesday in expectations the rally in U.S. stocks would continue into next year, data from fund-tracking firm EPFR Global showed on Friday.

The inflows into stock funds in the week ended Dec. 25 reversed the previous week's outflows of $3.4 billion and marked the strongest demand in four weeks, according to the data compiled by Reuters from EPFR Global and past Bank of America Merrill Lynch Global Research reports. Funds holding European and U.S. shares saw significant demand.

While investors committed cash to stock funds, they pulled $2.5 billion out of bond funds, marking the fourth straight week of outflows from fixed-income funds, the data from EPFR Global and Bank of America Merrill Lynch showed. They also pulled money from emerging markets stock and bond funds.

The inflows came in the wake of the Federal Reserve's announcement on Dec. 18 that it would cut its monthly purchases of Treasuries and agency mortgages by $10 billion to $75 billion starting in January, a move that surprised investors.

The Fed's bond-buying stimulus has kept interest rates low, which has fueled demand for stocks and helped boost the Standard & Poor's 500 over 29 percent this year through Thursday.

Funds that mainly hold U.S. stocks attracted $1 billion of the inflows into stock funds overall during the reporting period, reversing outflows over the previous week, according to the data from EPFR Global and Bank of America Merrill Lynch.

European stock funds raked in $2.4 billion in new cash, marking the 26th straight week of new demand for the funds.

The FTSEurofirst 300 index of top European shares booked its biggest rise in eight months on Dec. 20. Many investors have looked to European stocks in recent months on improving prospects in the region.

The S&P 500 hit record highs and rose 1.3 percent over the latest week, while MSCI's world equity index rose 1.5 percent. The U.S. stock market was closed on Wednesday for Christmas holiday and trading ended early on Tuesday.

The Fed's decision to cut its bond purchases reinforced investors' belief that the U.S. economy is improving, said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

Strong U.S. data on economic growth, manufacturing and consumer spending reinforced expectations that the rally in U.S. stocks could continue into next year, Ghriskey said.

Japanese stock funds attracted $202 million in new cash over the reporting period, the first inflows in three weeks, EPFR Global data showed. Japan's Nikkei average hit a six-year closing high on Dec. 25.

Investors continued to pull cash out of funds that hold emerging market stocks, however, with the latest week's $1.3 billion in withdrawals marking the ninth straight week of outflows from the funds, according to EPFR Global and Bank of America Merrill Lynch data.

Analysts and investors have said that the Fed's bond-buying lifted emerging market stocks this year, and that the stocks have become more vulnerable as the Fed scales back stimulus.

Investors pulled cash out of bond funds over the weekly period, meanwhile, on expectations that interest rates will rise as the Fed unwinds its bond-buying program. Of the $2.5 billion in outflows from bond funds, $1 billion came from funds that hold U.S. bonds, the data from EPFR Global showed.

Selling pressure caused the yield on the benchmark 10-year U.S. Treasury to rise about 10 basis points to 2.98 percent by the close of trading on Dec. 24. The bond market closed at 2 p.m. (1900 GMT) on Tuesday and was closed on Wednesday.

The Fed's pullback also hit emerging market bond funds, which had outflows of $1.3 billion over the weekly period, EPFR Global data showed.

Source: Reuters
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Re: Fund Flows

Postby winston » Thu Jan 09, 2014 6:27 am

Fund Flow Records Smashed: Equity Funds Get Record $352 Billion Inflow, Bond Funds Lose Record $86 Billion

http://globaleconomicanalysis.blogspot. ... funds.html
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Re: Fund Flows

Postby winston » Tue Feb 25, 2014 7:26 pm

Last year’s developing-nation ETF outflows were the first ever recorded, following a decade in which they attracted more than $110 billion, according to data compiled by Bloomberg.
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Re: Fund Flows

Postby winston » Fri Feb 28, 2014 6:38 am

Emerging-Market Outflows Top $11 Billion as Growth Slows

http://www.bloomberg.com/news/2014-02-2 ... urope.html
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Re: Fund Flows

Postby winston » Wed Mar 26, 2014 6:34 am

Global fund flows up 26% in 2013

Global fund flows rose some 26 per cent in 2013 to over US$1 trillion, compared to US$847 billion in the previous year.

http://www.channelnewsasia.com/news/bus ... 48282.html
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Re: Fund Flows

Postby winston » Sun Apr 13, 2014 4:35 pm

Investors in U.S.-based funds put $8.9 billion into stock funds in the week ended April 9, the biggest net inflows in four weeks.

At the same time, funds that mostly hold U.S. Treasuries reported outflows for the first time in four weeks, according to data from Thomson Reuters' Lipper service on Thursday.

Source: Reuters
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Re: Fund Flows

Postby winston » Sun Apr 13, 2014 4:37 pm

Data on sector exchange-traded funds also showed a big move out of tech-related areas, with science and tech ETFs registering outflows in the week ended April 9 after at least five straight weeks of inflows.

Healthcare and biotech ETFs also showed outflows for the latest week, according to Lipper data.


Source: Reuters
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Re: Fund Flows

Postby winston » Sat Apr 26, 2014 9:29 pm

Energy sector funds have attracted inflows in nine of the past 10 weeks; flows have averaged $488.9 million weekly over the last four weeks, the most since March 2011, according to Lipper, a Thomson Reuters company.

On a total return basis, energy is up more than 7 percent since Feb. 25, compared with a gain of just over 2 percent for the S&P 500 and a loss of 1.8 percent on healthcare, the worst-performing sector in that period.

Source: Reuters
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Re: Fund Flows

Postby winston » Mon May 05, 2014 7:48 pm

Strong flows from the US into the Euro area

US investors accounted for around half of the inflow into euro area equities by foreign investors between Feb 2013 and Jan 2014, and appear to account for a significant part of the flows into peripheral markets.

From the $150bn of Euro area equities bought by US investors over that period, around $20bn went into Italian and Spanish equities.

The flow support for Italian and Spanish government debt has experienced a shift since last September, away from domestic banks into non-domestic investors.

Of the €50bn of Spanish government debt securities bought by nondomestic investors between September 2013 and January 2014, €9bn likely came from the US.

Of the €38bn of Italian government debt securities bought by nondomestic investors between September 2013 and January 2014, €12bn likely came from the US.

The position of US investors appears to be neutral relative to benchmarks in both euro area equities and bonds.

The overall flow picture is consistent with the hypothesis that the outflows from EM assets have benefited peripheral assets.

Credit creation weakens in EM ex-China. It remains stubbornly negative in the Euro area.

EM equity outflows after 5 consecutive weeks of inflows.

Source: JPM
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Re: Fund Flows

Postby winston » Mon Aug 18, 2014 3:15 pm

Ebbs & Flows - Emerging Asia funds stand strong

For the week ending Aug 13, global equity funds stabilized from USD16.6b outflows in the previous week to USD2.8b inflows.

The performance was largely aided by developed market funds shifting back into US (+US$1.4b) and Japan (+US$1.7b) funds, at the expense of W.Europe (-US$1.9b) funds.

Perennial weak sentiment in Europe makes this the 5th week of outflows for European funds.

Conversely, emerging market funds posted gains for the tenth consecutive week (+0.1% of NAV) although pace of accumulation has slowed.

At the regional level, Emerging Asia funds remained strong with inflows (+0.2%), as did Africa (+0.1%) and Mid-East (+0.04%) funds.

Outflows were seen in E. Europe (-0.1%) and Lat-Am (-0.01%).


Source: Maybank
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