Fund Flows

Re: Fund Flows

Postby winston » Thu Aug 11, 2016 4:49 pm

Q&A: WallachBeth ETF Specialist On Where Investors Are Putting Their Money

By Shuli Ren


Barron’s: Where are people investing their money?

Bajaj: Investors are moving out of traditional “safe havens” of treasuries and into higher-yielding emerging markets equities and especially debt.

Since July 1, the iShares MSCI Emerging Markets ETF (EEM) saw money inflow equivalent to 20% of the total assets under management, or $4.8 billion.

The iShares Core MSCI Emerging Markets ETF (IEMG) saw another $1.7 billion inflow, or 13% of the total assets under management.

These are substantial amounts.


Barron’s: So investors are finally coming to view emerging markets positively?


Bajaj: I would not say so. Unlike last summer, trading volume this year is very light and many investors are just watching how things play out more than anything else. Everything is trickling higher, which is not normal. In the past, when stock markets went up, bond markets would fall.

I think some investors are just riding the tailwinds from a rally in commodities, and emerging markets stocks and bonds happen to be correlated risk assets.

For instance, we see more inflows into the iShares JP Morgan USD Emerging Markets Bond ETF (EMB), which has more commodity exposure, than the Powershares Emerging Markets Sovereign Debt Portfolio (PCY).


Barron’s: Since Brexit, Asian markets have seen a nice rebound. Do you see profit-taking?

Bajaj: Yes, in the last few days, we saw sizable fund redemption in Japan’s iShares MSCI Japan ETF (EWJ) and WisdomTree Japan Hedged Equity Fund (DXJ). Investors seem unconvinced Kuroda and Abe’s economic stimulus can push Japan stocks higher.

We also saw profit taking in the iShares MSCI Australia ETF (EWA). Investors may consider the Australian dollar’s strength played out.


Barron’s: How about China?

Bajaj: Investor sentiment remains poor. Even though the iShares MSCI China ETF (MCHI) has risen 13% since Brexit, we have not seen investors pouring money into this ETF. They are still apprehensive of China because of the stock market turmoil last summer and this January.

Year-to-date, the Deutsche X-Trackers Harvest CSI 300 China A-shares Fund (ASHR) is still down 12%, whereas the rest of the world pretty much have at least broken even.



Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... eir-money/
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Re: Fund Flows

Postby winston » Fri Sep 23, 2016 8:39 pm

Investors pull $7.4 billion from stocks funds, largest outflow in 12 weeks: BAML

Emerging market equities saw their first outflows in 12 weeks, albeit a small $100 million, whilst some $1.2 billion was redeemed from high yield bond funds.

U.S. equity funds lost $7.7 billion, their largest outflows in 12 weeks, whilst European equity funds lost $1.8 billion in a record 33rd straight week of redemptions.

"Europe continues to be the 'vacant' trade (with) no interest since the February 2016 market lows," BAML said. European stocks .FTEU3 have fallen 5.3 percent so far this year.

Japanese equities bucked the trend, attracting $2.4 billion. The Nikkei .N225 was up around 7.6 percent in the third quarter, but is still down almost 12 percent so far this year.

Overall, bond funds attracted some $3.8 billion, with emerging market debt funds pulling in $1.5 billion in their 12th straight week of inflows. Investment grade bonds attracted some $2.8 billion.



Source: Reuters

http://www.reuters.com/article/us-inves ... the%20Bell
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Re: Fund Flows

Postby winston » Sat Oct 01, 2016 2:21 am

Global funds add to Japan, euro zone bonds, see no further sell offs

By Claire Milhench

Global investors raised holdings of Japanese bonds to four-year highs in September and bought more euro zone debt, shrugging off a mid-month market sell-off


"The fact remains that whilst the central banks continue to be the biggest buyers in the markets through monthly bond-buying programs, it is likely that bond prices will remain inflated and yields depressed"


The share of U.S. stocks in global equity portfolios rose to 41 percent, up from 38.5 percent in August -- the highest in just over a year.

But Euro zone and Japanese equity allocations fell to 17.7 percent and 17 percent respectively.


Source: Reuters

http://www.reuters.com/article/us-funds ... 201EH?il=0
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Re: Fund Flows

Postby winston » Thu Nov 03, 2016 11:34 am

Watch what they do, not what they say

by Joshua M Brown

Total equity funds posted cumulative outflows of $158.41 billion through September down from the outflows of $9.38 billion during the first nine months of 2015.

US oriented funds experienced cumulative outflows of $149.76 billion during the first nine months of 2016, meaningfully worse than the cumulative outflows of $113.47 billion that were recorded over the same period in 2015.


YTD through September 2016, combined equity mutual funds and ETFs recorded cumulative outflows of $72.94 billon vs inflows of $87.12 billion attracted over the first nine months of 2015 with both domestic and international flows suffering.


Year-to-date, money market funds have seen outflows of $82.01 billion versus outflows of $62.26 billion in the first nine months of 2015…In [all of] 2015, money markets attracted inflows of $21.46 billion.

For the full-year 2014, money market funds recorded cumulative inflows of $6.24 billion. In 2013, money market funds attracted inflows of $15.04 billion.


YTD through September, bond funds have experienced inflows of $123.45 billion, significantly better than the $2.20 billion inflow garnered over the same nine-month period in 2015…

Fascinatingly, combined bond fund inflows in the first nine months of 2016 year to date were more than 4x the inflows over the same time period in 2015.


Source: The Reformed Broker

http://thereformedbroker.com/2016/10/31 ... -they-say/
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Re: Fund Flows

Postby winston » Fri Nov 18, 2016 12:54 pm

US Stocks Since Trump’s Victory

By Shuli Ren

Between November 10 and 16, investors withdrew $18 billion from global bonds funds.

Emerging markets bonds fund saw $6.6 billion withdrawal,
the heaviest on record.

But other bond markets, from US government bonds to investment-grade corporate bonds, all suffered.

Gold suffered too. Investors pulled $2.4 billion out of gold funds.

Meanwhile, investors pumped $31 billion into US stocks, the highest weekly number on record. Large-caps and financials are the biggest beneficiaries.

On the other hand, investors pulled $4.3 billion out of emerging markets stocks.

Source: Barron's Asia
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Re: Fund Flows

Postby winston » Fri Nov 25, 2016 3:04 pm

Investors Continue The Great Rotation From Bonds To Stocks, EM To DM

By Shuli Ren

The great rotation seen since Donald Trump won the U.S. presidency remained intact in the last week.

Investors bought $5.2 billion of stocks during the week ending November 23, mostly in developed markets, and sold $8.6 billion of bonds, both in developed and emerging markets. They sold $1.9 billion of gold.

Investors continued to move their money out of emerging market stocks into developed countries’ shares. Developed markets received $6.6 billion net inflow last week, whereas $1.4 billion flowed out of emerging markets saw.

Nonetheless, year-to-date, emerging markets remain the recipient of investors’ money, with $4.7 billion net inflow, whereas investors have pulled $113.4 billion out of developed markets.

Foreign investors bought stocks in Japan for the second week, net buying $4.2 billion, bringing the two weeks of cumulative inflow to $7.9 billion. Nonetheless, foreigners have net sold $43.9 billion of Japanese stocks this year.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... -em-to-dm/
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Re: Fund Flows

Postby winston » Sat Nov 26, 2016 12:50 pm

Investment focus: Is this the 'Great Rotation'? Some banks think so

By Dhara Ranasinghe and Vikram Subhedar

Almost $2 trillion has been wiped off the value of global bonds since Donald Trump was elected as the next U.S. president on Nov. 8, sparking a reassessment of growth and inflation views. In contrast, U.S. stocks have hit record highs.

According to Bank of America Merrill Lynch, the week to Nov. 16 saw the biggest equity inflows in two years at $28 billion and the biggest bond outflows in 3-1/2 years at $18 billion -- the widest weekly disparity between stock and bond flows ever.



Source: Reuters

http://www.reuters.com/article/us-globa ... US%20Money
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Re: Fund Flows

Postby winston » Wed Dec 21, 2016 7:05 am

Investor have poured over $97.6 billion into exchange-traded funds since the election

This is a record amount of inflows.

For comparison, the inflows for all of 2015 was $61.5 billion.

The recent rush to buy into the market and the magnitude of the inflows serve as a contrary indicator.

Source: Economy & Markets
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Re: Fund Flows

Postby winston » Fri Dec 23, 2016 8:30 pm

Even as the market soared, investors pulled $21.6 billion from U.S. based stock funds in the past week, according to the latest Lipper data. But year-end payouts by funds may be reinvested quickly, said analysts.

Source: Reuters
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Re: Fund Flows

Postby winston » Tue Mar 07, 2017 9:17 am

High-spirited investors buy U.S. stock funds for fifth week in a row

By Trevor Hunnicutt

U.S.-based funds invested in stocks pulled in $7.3 billion during the week ended March 1, a fifth straight week of inflows, while taxable bond funds attracted $2.8 billion


U.S.-based stock exchange-traded funds attracted $8.6 billion during the week, capping a ninth straight month of inflows.


Investors also showed caution on what were some popular bets in recent weeks, pulling cash from Japanese stock funds in only a second week of outflows this year andfrom financial sector funds for the first time in five weeks.


Municipal bond outflows of $346 million during the week broke a seven-week streak of inflows.


Source: Reuters

http://www.reuters.com/article/us-inves ... US%20Money
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