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	15.69
Commodities	PRECIOUS METAL SECTOR	Equity	-39.66
Commodities	PRECIOUS METALS	Commodity	502.00
Commodities	PRECIOUS METALS	Mixed Allocation	5.76
country	AUSTRALIA	Equity	11.02
country	AUSTRALIA	Fixed Income	14.82
country	AUSTRALIA	Mixed Allocation	0.01
country	BRAZIL	Equity	413.07
country	BRAZIL	Fixed Income	72.05
country	CHINA	Equity	-256.50
country	CHINA	Fixed Income	-15.78
Country	EGYPT	Equity	2.75
country	INDIA	Equity	172.36
country	INDIA	Fixed Income	3.47
country	ISRAEL	Equity	-0.42
country	JAPAN	Equity	948.92
country	JAPAN	Fixed Income	34.66
country	JAPAN	Mixed Allocation	-1.52
country	KOREA	Equity	20.36
country	POLAND	Equity	15.32
country	RUSSIA	Equity	59.95
country	RUSSIA	Fixed Income	19.76
country	SOUTH AFRICA	Equity	21.07
country	SPAIN	Equity	31.23
Country	TAIWAN	Equity	67.02
country	TURKEY	Equity	-31.55
country	UNITED KINGDOM	Equity	11.44
industry	BASIC MATERIALS SECTOR	Equity	-659.26
industry	COMMUNICATIONS SECTOR	Equity	-54.97
industry	ENERGY SECTOR	Equity	136.51
industry	ENERGY SECTOR	Mixed Allocation	0.00
industry	FINANCIAL SECTOR	Equity	-264.29
industry	HEALTH CARE SECTOR	Equity	-1835.62
industry	INDUSTRIAL SECTOR	Equity	-198.29
industry	MULTIPLE SECTOR	Equity	0.00
industry	NATURAL RESOURCES SECTOR	Equity	24.51
industry	REAL ESTATE SECTOR	Alternative	0.46
industry	REAL ESTATE SECTOR	Equity	-244.53
industry	TECHNOLOGY SECTOR	Equity	-629.14
industry	UTILITIES SECTOR	Equity	-5.22
region	AFRICAN REGION	Equity	6.99
region	AFRICAN REGION	Fixed Income	-0.25
region	ASIAN PACIFIC REGION	Equity	-554.41
region	ASIAN PACIFIC REGION	Fixed Income	38.41
region	ASIAN PACIFIC REGION	Mixed Allocation	-155.76
region	ASIAN PACIFIC REGION EX JAPAN	Equity	-710.43
region	ASIAN PACIFIC REGION EX JAPAN	Fixed Income	-36.31
region	ASIAN PACIFIC REGION EX JAPAN	Mixed Allocation	5.67
region	EASTERN EUROPEAN REGION	Equity	-14.80
region	EASTERN EUROPEAN REGION	Fixed Income	3.98
region	EASTERN EUROPEAN REGION	Mixed Allocation	-0.86
region	EUROPEAN REGION	Equity	-548.34
region	EUROPEAN REGION	Fixed Income	-146.48
region	EUROPEAN REGION	Mixed Allocation	0.86
region	LATIN AMERICAN REGION	Equity	-304.18
region	LATIN AMERICAN REGION	Fixed Income	12.46
region	MIDDLE EAST REGION	Equity	-3.90
region	MIDDLE EAST REGION	Fixed Income	0.34
region	NORDIC REGION	Equity	-17.74
region	NORTH AMERICAN REGION	Equity	-10.35
region	NORTH AMERICAN REGION	Fixed Income	-12.65
Risk	GOVERNMENT BOND	Alternative	0.00
Risk	GOVERNMENT BOND	Equity	-0.02
Risk	GOVERNMENT BOND	Fixed Income	-137.43
Risk	GOVERNMENT BOND	Mixed Allocation	-26.00
Risk	INFLATION PROTECTED	Brazil	2.83
Risk	INFLATION PROTECTED	Fixed Income	267.10
Risk	INFLATION PROTECTED	Mixed Allocation	0.00
Risk	LONG SHORT	Alternative	-157.37
Risk	LONG SHORT	Equity	-188.21
Risk	LONG SHORT	Fixed Income	2.26
Risk	LONG SHORT	Mixed Allocation	-0.40
Sector	AGRICULTURE	Commodity	47.26
Sector	AGRICULTURE	Equity	0.05
Sector	CONSUMER DISCRETIONARY	Equity	24.04
Sector	CONSUMER STAPLES	Equity	158.07
segment	BRIC	Equity	-14.79
segment	BRIC	Fixed Income	19.95
segment	DEVELOPED MARKETS	Equity	-1196.47
segment	EMEA	Equity	-6.30
segment	EMEA	Fixed Income	1.97
segment	EMERGING MARKETS	Equity	970.86
segment	GCC	Equity	-1.52
segment	GCC	Fixed Income	0.05
segment	GCC	Mixed Allocation	1.63
segment	MENA	Equity	0.68
segment	MENA	Fixed Income	-1.43
Size	LARGE-CAP	Equity	6761.05
Size	MID-CAP	Commodity	0.43
Size	MID-CAP	Equity	1388.01
Size	SMALL-CAP	Equity	577.39

Source: Midlincoln Research

Fund Aggregates

Chart: Key Performing Fund Ideas

Source: ML

Download file in Power Point

Emerging markets fund flow showed 970.9 USD mn of inflow. While Frontier Markets funds showed 0.1 USD mn of inflows.

BRAZIL Equity funds showed 413.1 USD mn of inflow.
BRAZIL Fixed Income funds showed 72.0 USD mn of inflow.
CHINA Equity funds showed -256.5 USD mn of outflow.
CHINA Fixed Income funds showed -15.8 USD mn of outflow.
INDIA Equity funds showed 172.4 USD mn of inflow.
INDIA Fixed Income funds showed 3.5 USD mn of inflow.
KOREA Equity funds showed 20.4 USD mn of inflow.
RUSSIA Equity funds showed 60.0 USD mn of inflow.
RUSSIA Fixed Income funds showed 19.8 USD mn of inflow.
SOUTH AFRICA Equity funds showed 21.1 USD mn of inflow.
TURKEY Equity funds showed -31.6 USD mn of outflow.

COMMUNICATIONS SECTOR Equity funds showed -55.0 USD mn of outflow.
ENERGY SECTOR Equity funds showed 136.5 USD mn of inflow.
ENERGY SECTOR Mixed Allocation funds showed 0.0 USD mn of inflow.
FINANCIAL SECTOR Equity funds showed -264.3 USD mn of outflow.
REAL ESTATE SECTOR Alternative funds showed 0.5 USD mn of inflow.
REAL ESTATE SECTOR Equity funds showed -244.5 USD mn of outflow.
TECHNOLOGY SECTOR Equity funds showed -629.1 USD mn of outflow.
UTILITIES SECTOR Equity funds showed -5.2 USD mn of outflow.

LONG SHORT Alternative funds showed -157.4 USD mn of outflow.
LONG SHORT Equity funds showed -188.2 USD mn of outflow.
LONG SHORT Fixed Income funds showed 2.3 USD mn of inflow.
LONG SHORT Mixed Allocation funds showed -0.4 USD mn of outflow.

Top 20 Funds Longs Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	5.87	23.70	56.52	27.46	396.11	113.29
SANTANDER FIC FI VALE 3 ACOES (REALRIO)	4.78	15.87	39.55	85.80	266.47	93.23
SAFRA VALE DO RIO DOCE FIC FIA (SAFVRDA)	4.70	15.70	38.96	84.63	258.29	90.83
BB ACOES SIDERURGIA FICFI (BBACOSI)	4.96	9.47	28.94	33.95	258.20	76.65
SANTANDER FIC FI PETROBRAS 3 ACOES (REALPET)	4.79	-2.82	5.46	16.57	216.03	58.64
SAFRA PETROBRAS FIC FIA (SAFPETR)	4.73	-2.79	5.37	16.41	213.69	58.01
CANADIAN LIFE COS SPLIT CORP (LFE)	-1.08	7.32	12.56	114.60	104.10	56.24
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	1.67	23.45	48.33	14.95	180.67	55.18
FIA MERLOT (MAXPOWR)	1.15	8.51	14.65	50.33	158.12	54.53
MAXWELL POWER (MAXPOWR)	1.15	8.51	14.65	50.33	158.12	54.53
DIREXION DAILY RUSSIA BULL 3X SHARES (RUSL)	-6.12	-1.19	-0.38	42.76	173.37	52.21
ISHARES MSCI BRAZIL CAPPED ETF (EWZ)	8.21	14.40	23.76	19.36	124.59	41.64
BB ACOES SETOR FINANCEIRO FIC FI (BBACOEB)	4.72	13.91	22.36	22.15	124.51	41.32
SECURITY - FONDO DE INVERSION IFUND MSCI BRAZIL SMALL CAP INDEX (IFBRASC)	2.98	12.76	26.73	22.60	125.61	40.99
LYXOR ETF BRAZIL IBOVESPA (LYMG)	22.23	21.49	23.24	15.76	104.16	40.91
SPDR S&P METALS & MINING ETF (SSGG)	-0.08	5.52	9.34	27.37	128.02	40.21
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	7.40	12.94	20.65	20.25	116.43	39.26
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	5.87	10.70	19.28	19.61	114.59	37.69
BB ACOES INFRAESTRUTURA FIC FI (BBACINF)	4.40	12.43	23.54	19.92	111.11	36.97
CANADIAN BANC CORP (BK)	3.31	9.90	14.95	39.02	94.71	36.74

Top 20 Funds Shorts Based on Momentum

Name	1week	1month	ytd	6months	1yr	Rank
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	-3.77	-15.18	-28.59	-34.42	-83.23	-34.15
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	-15.26	-39.64	-58.48	-36.25	-41.06	-33.05
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	-1.66	-2.85	-3.18	-30.33	-42.15	-19.25
SPOTR BEAR OMXS30 (SPBEAOMX)	-0.19	-6.66	-6.16	-27.92	-39.41	-18.55
LYXOR ETF FTSE MIB DAILY DOUBLE SHORT XBEAR (XBRMIB)	-0.09	2.51	3.40	-35.14	-41.04	-18.44
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	0.18	-11.32	-10.04	-22.98	-26.92	-15.26
ETFS DAILY SHORT COPPER (SCOP)	1.73	-4.50	-8.57	-21.62	-27.15	-12.89
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	-3.54	-8.07	-10.51	-8.84	-28.93	-12.34
DB X-TRACKERS SHORTDAX DAILY UCITS ETF (XSDX)	-0.76	-2.24	-1.93	-17.04	-27.89	-11.98
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	-1.90	-6.95	-8.88	-8.52	-29.14	-11.63
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	-0.85	-1.78	-1.16	-18.71	-23.96	-11.33
COMSTAGE ETF CAC 40 SHORT GR UCITS ETF (CBCACSEU)	-1.74	-1.51	-0.93	-17.22	-24.79	-11.32
CHANGSHENG TELECOM INDUSTRY FUND (CHTEINF)	-0.10	1.99	-2.97	-19.88	-25.99	-11.00
LYXOR ETF FTSE MIB DAILY SHORT BEAR (BERMIB)	-0.31	0.98	1.92	-21.64	-23.01	-11.00
YINHUA CONSUMPTION THEME FUND (150048)	-0.49	0.64	-0.26	-11.03	-22.78	-8.42
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	-3.75	15.79	7.45	-30.43	-13.20	-7.90
CAPITAL CHINA NEW OPPORTUNITY EQUITY FUND - USD (CAPGNEU)	1.11	4.63	4.47	-14.69	-18.04	-6.75
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	2.11	3.98	7.60	-13.98	-17.78	-6.42
AMUNDI ETF MSCI EUROPE TELECOM SERVICES UCITS ETF (CT5)	0.44	-4.47	-1.17	-9.06	-11.93	-6.26
INVESCO KOREAN EQUITY FUND - B INC (INVKGBB)	2.34	3.60	7.20	-13.72	-16.96	-6.19

Best Fundses last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
SIMPLEX CHINA BULL 2X H-SHARE ETF (9D31112C)	0.07	26.26	8.16	15.70	14.41	70.67	27.24
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-1.43	20.65	7.40	12.94	20.25	116.43	39.26
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-3.00	56.52	5.87	23.70	27.46	396.11	113.29
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-1.36	19.28	5.87	10.70	19.61	114.59	37.69
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-1.11	17.72	5.20	10.97	18.35	111.90	36.61
NEXT FUNDS FTSE/JSE AFRICA TOP40 LINKED NOMURA ETF (01313087)	-0.58	8.68	4.54	2.69	2.27	27.19	9.17
DEXIA EQUITIES L - AUSTRALIA (XUO6)	-1.97	10.24	4.54	4.25	8.78	34.31	12.97
ISHARES MSCI ISRAEL CAPPED ETF (ISVY)	-0.10	8.11	4.07	5.98	1.48	12.62	6.04
ERSTE-SPARINVEST - ESPA BEST OF AMERICA - T (BESTUSA)	0.51	2.85	4.04	2.44	9.22	27.73	10.86
HSBC MSCI TURKEY UCITS ETF (H4Z2)	3.52	11.11	4.04	14.36	-8.88	0.29	2.45
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.31	19.98	4.00	13.57	13.81	71.34	25.68
PROSHARES ULTRASHORT MSCI MEXICO CAPPED IMI (SMK)	1.44	-7.67	3.97	-14.62	19.25	-15.81	-1.80
WORLDWIDE HEALTHCARE TRUST PLC (P8W)	-1.45	11.15	3.92	7.73	4.04	24.18	9.97
ISHARES MSCI BRAZIL UCITS ETF (INC) (IBZL)	-2.10	18.73	3.87	8.71	16.38	100.06	32.26
ISHARES MSCI SOUTH AFRICA ETF (ISVW)	-1.75	6.66	3.76	2.06	-5.51	29.00	7.33
TORTOISE ENERGY INFRASTRUCTURE CORP (TYG)	-0.39	18.81	3.65	19.20	17.02	72.47	28.09
SPDR S&P EMERGING LATIN AMERICA ETF (SSGT)	-1.06	14.00	3.60	9.01	7.54	56.64	19.20
MILLENNIUM INDIA ACQUISITION CO INC (SMCG)	-0.67	35.45	3.47	-0.67	2.05	30.70	8.89
SPDR S&P EMERGING MIDDLE EAST & AFRICA ETF (SSGU)	-0.48	7.80	3.46	1.88	-4.54	25.98	6.70
ABERDEEN LATIN AMERICA EQUITY FUND INC (LT4)	-0.63	14.94	3.43	8.82	2.09	57.16	17.88

Worst Funds last Week

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	0.41	-58.48	-15.26	-39.64	-36.25	-41.06	-33.05
DIREXION DAILY RUSSIA BULL 3X SHARES (RUSL)	-4.36	-0.38	-6.12	-1.19	42.76	173.37	52.21
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	2.12	-28.59	-3.77	-15.18	-34.42	-83.23	-34.15
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	-0.26	7.45	-3.75	15.79	-30.43	-13.20	-7.90
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	-0.10	-10.51	-3.54	-8.07	-8.84	-28.93	-12.34
PROSHARES ULTRA DJ-UBS CRUDE OIL (UCO)	-1.16	-7.53	-3.31	-2.22	-4.68	44.07	8.47
IPATH DOW JONES-UBS COPPER SUBINDEX TOTAL RETURN ETN (JJC)	-0.89	8.18	-3.20	3.32	25.18	30.48	13.95
YINHUA CSI CHINA MAINLAND NATURAL RESOURCE INDEX FUND (150059)	-0.81	-3.31	-3.07	-4.29	-8.16	3.73	-2.95
KAYNE ANDERSON ENERGY TOTAL RETURN FUND INC (KYE)	-0.63	6.69	-2.70	2.02	17.28	96.39	28.25
SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF (XOP)	-0.63	-5.19	-2.69	-4.48	4.72	56.39	13.49
MERCANTILE INVESTMENT CO LTD (21IA)	-4.58	-0.93	-2.64	-2.34	8.55	27.00	7.64
GLOBAL X FTSE COLOMBIA 20 ETF (4GXB)	-1.22	2.35	-2.57	-1.98	-2.63	25.92	4.69
LYXOR ETF RUSSIA DOW JONES RUSSIA GDR - D USD (LYRUS)	-1.83	-3.34	-2.15	-1.68	16.15	56.75	17.27
POWERSHARES DB BASE METALS FUND (DBB)	-1.61	9.21	-2.14	3.58	17.90	37.39	14.18
MARKET VECTORS RUSSIA ETF (RSX)	-1.48	0.26	-2.12	-0.02	15.83	51.19	16.22
BLACKROCK GLOBAL FUNDS - WORLD ENERGY FUND (H2Z6)	-0.89	-3.27	-2.09	-4.82	-3.54	19.86	2.35
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	-1.37	-3.22	-1.97	-1.62	17.00	54.47	16.97
VANGUARD ENERGY ETF (VDE)	-0.67	-5.08	-1.96	-4.38	3.05	28.57	6.32
NUVEEN REAL ESTATE INCOME FUND (JRS)	-0.54	2.88	-1.95	0.27	-2.10	27.41	5.91
BLACKROCK WORLD MINING TRUST PLC (BRWM)	-2.33	17.08	-1.95	8.04	22.21	87.78	29.02

Best Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-3.00	56.52	5.87	23.70	27.46	396.11	113.29
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-4.71	48.33	1.67	23.45	14.95	180.67	55.18
DIREXION DAILY GOLD MINERS BULL 3X SHARES (NUGT)	0.23	68.59	-0.85	23.10	-56.86	39.16	1.14
TORTOISE ENERGY INFRASTRUCTURE CORP (TYG)	-0.39	18.81	3.65	19.20	17.02	72.47	28.09
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	-0.26	7.45	-3.75	15.79	-30.43	-13.20	-7.90
SIMPLEX CHINA BULL 2X H-SHARE ETF (9D31112C)	0.07	26.26	8.16	15.70	14.41	70.67	27.24
HSBC MSCI TURKEY UCITS ETF (H4Z2)	3.52	11.11	4.04	14.36	-8.88	0.29	2.45
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-1.97	14.29	2.90	13.80	1.62	43.41	15.43
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.31	19.98	4.00	13.57	13.81	71.34	25.68
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-1.43	20.65	7.40	12.94	20.25	116.43	39.26
ISHARES MSCI TURKEY UCITS ETF (IDTK)	1.78	10.66	2.80	12.35	-10.00	-0.97	1.04
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	0.62	25.98	1.83	11.79	-11.31	88.58	22.72
ISHARES MSCI TURKEY ETF (ISVZ)	1.35	9.47	2.92	11.42	-9.12	0.17	1.35
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-1.11	17.72	5.20	10.97	18.35	111.90	36.61
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-1.36	19.28	5.87	10.70	19.61	114.59	37.69
BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC (BRLA)	-1.23	14.62	2.98	9.94	7.00	49.55	17.37
CANADIAN BANC CORP (BK)	-0.30	14.95	3.31	9.90	39.02	94.71	36.74
ASA GOLD AND PRECIOUS METALS LTD (ASA)	0.43	22.08	0.13	9.85	-17.08	50.56	10.87
ISHARES MSCI POLAND UCITS ETF (IPOL)	-1.39	16.30	1.00	9.54	14.03	16.90	10.37
KAYNE ANDERSON MLP INVESTMENT CO (KYN)	-0.73	13.74	0.05	9.39	17.44	68.85	23.93

Worst Funds last Month

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-3.00	56.52	5.87	23.70	27.46	396.11	113.29
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-4.71	48.33	1.67	23.45	14.95	180.67	55.18
DIREXION DAILY GOLD MINERS BULL 3X SHARES (NUGT)	0.23	68.59	-0.85	23.10	-56.86	39.16	1.14
TORTOISE ENERGY INFRASTRUCTURE CORP (TYG)	-0.39	18.81	3.65	19.20	17.02	72.47	28.09
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	-0.26	7.45	-3.75	15.79	-30.43	-13.20	-7.90
SIMPLEX CHINA BULL 2X H-SHARE ETF (9D31112C)	0.07	26.26	8.16	15.70	14.41	70.67	27.24
HSBC MSCI TURKEY UCITS ETF (H4Z2)	3.52	11.11	4.04	14.36	-8.88	0.29	2.45
CITIC-PRUDENTIAL CSI 800 NONFERROUS METAL INDEX FUND (150151)	-1.97	14.29	2.90	13.80	1.62	43.41	15.43
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.31	19.98	4.00	13.57	13.81	71.34	25.68
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-1.43	20.65	7.40	12.94	20.25	116.43	39.26
ISHARES MSCI TURKEY UCITS ETF (IDTK)	1.78	10.66	2.80	12.35	-10.00	-0.97	1.04
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	0.62	25.98	1.83	11.79	-11.31	88.58	22.72
ISHARES MSCI TURKEY ETF (ISVZ)	1.35	9.47	2.92	11.42	-9.12	0.17	1.35
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-1.11	17.72	5.20	10.97	18.35	111.90	36.61
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-1.36	19.28	5.87	10.70	19.61	114.59	37.69
BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC (BRLA)	-1.23	14.62	2.98	9.94	7.00	49.55	17.37
CANADIAN BANC CORP (BK)	-0.30	14.95	3.31	9.90	39.02	94.71	36.74
ASA GOLD AND PRECIOUS METALS LTD (ASA)	0.43	22.08	0.13	9.85	-17.08	50.56	10.87
ISHARES MSCI POLAND UCITS ETF (IPOL)	-1.39	16.30	1.00	9.54	14.03	16.90	10.37
KAYNE ANDERSON MLP INVESTMENT CO (KYN)	-0.73	13.74	0.05	9.39	17.44	68.85	23.93

Best Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
DIREXION DAILY GOLD MINERS BULL 3X SHARES (NUGT)	0.23	68.59	-0.85	23.10	-56.86	39.16	1.14
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-3.00	56.52	5.87	23.70	27.46	396.11	113.29
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-4.71	48.33	1.67	23.45	14.95	180.67	55.18
MILLENNIUM INDIA ACQUISITION CO INC (SMCG)	-0.67	35.45	3.47	-0.67	2.05	30.70	8.89
JPMORGAN INDIAN INVESTMENT TRUST PLC (3J8)	-0.54	29.53	-1.85	6.42	-3.78	27.80	7.15
SIMPLEX CHINA BULL 2X H-SHARE ETF (9D31112C)	0.07	26.26	8.16	15.70	14.41	70.67	27.24
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	0.62	25.98	1.83	11.79	-11.31	88.58	22.72
ASA GOLD AND PRECIOUS METALS LTD (ASA)	0.43	22.08	0.13	9.85	-17.08	50.56	10.87
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-1.43	20.65	7.40	12.94	20.25	116.43	39.26
MARKET VECTORS GOLD MINERS ETF (GDX)	0.12	20.60	-0.30	8.05	-15.54	41.99	8.55
SIMPLEX CHINA BULL 2X H-SHARE ETF (1572)	-2.31	19.98	4.00	13.57	13.81	71.34	25.68
BLACKROCK GLOBAL FUNDS - WORLD GOLD FUND - A2EUR HEDGED (H2ZG)	0.69	19.55	0.14	7.28	-19.97	32.10	4.89
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-1.36	19.28	5.87	10.70	19.61	114.59	37.69
TORTOISE ENERGY INFRASTRUCTURE CORP (TYG)	-0.39	18.81	3.65	19.20	17.02	72.47	28.09
ISHARES MSCI BRAZIL UCITS ETF (INC) (IBZL)	-2.10	18.73	3.87	8.71	16.38	100.06	32.26
BLACKROCK GLOBAL FUNDS - WORLD MINING FUND (B92A)	-0.57	18.05	0.90	3.53	3.58	52.31	15.08
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-0.82	17.91	1.98	7.37	18.57	96.18	31.03
ISHARES MSCI BRAZIL UCITS ETF (CSBR)	-1.53	17.86	3.00	9.01	16.69	100.03	32.18
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-1.11	17.72	5.20	10.97	18.35	111.90	36.61
BLACKROCK WORLD MINING TRUST PLC (BRWM)	-2.33	17.08	-1.95	8.04	22.21	87.78	29.02

Worst Funds YTD

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	0.41	-58.48	-15.26	-39.64	-36.25	-41.06	-33.05
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	2.12	-28.59	-3.77	-15.18	-34.42	-83.23	-34.15
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	-0.10	-10.51	-3.54	-8.07	-8.84	-28.93	-12.34
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	1.24	-8.88	-1.90	-6.95	-8.52	-29.14	-11.63
NEXT NOTES NIKKEI TOCOM LEVERAGED CRUDE OIL ETN (2038)	-0.52	-8.43	-0.94	-1.31	19.58	33.05	12.59
PROSHARES ULTRASHORT MSCI MEXICO CAPPED IMI (SMK)	1.44	-7.67	3.97	-14.62	19.25	-15.81	-1.80
PROSHARES ULTRA DJ-UBS CRUDE OIL (UCO)	-1.16	-7.53	-3.31	-2.22	-4.68	44.07	8.47
SPOTR BEAR OMXS30 (SPBEAOMX)	0.19	-6.16	-0.19	-6.66	-27.92	-39.41	-18.55
SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF (XOP)	-0.63	-5.19	-2.69	-4.48	4.72	56.39	13.49
VANGUARD ENERGY ETF (VDE)	-0.67	-5.08	-1.96	-4.38	3.05	28.57	6.32
LYXOR ETF FTSE ATHEX 20 (GRE)	-0.29	-4.15	-0.11	-3.76	5.15	20.37	5.41
LYXOR ETF FTSE MIB DAILY LEVERAGED (LEVMI)	-2.20	-3.99	-0.02	-4.84	24.18	9.94	7.31
IPATH GOLDMAN SACHS CRUDE OIL TOTAL RETURN INDEX ETN (OIL)	-0.98	-3.95	-1.78	-0.72	0.10	25.75	5.84
LYXOR ETF RUSSIA DOW JONES RUSSIA GDR - D USD (LYRUS)	-1.83	-3.34	-2.15	-1.68	16.15	56.75	17.27
YINHUA CSI CHINA MAINLAND NATURAL RESOURCE INDEX FUND (150059)	-0.81	-3.31	-3.07	-4.29	-8.16	3.73	-2.95
BLACKROCK GLOBAL FUNDS - WORLD ENERGY FUND (H2Z6)	-0.89	-3.27	-2.09	-4.82	-3.54	19.86	2.35
ISHARES MSCI RUSSIA ADR/GDR UCITS ETF (CEBB)	-1.37	-3.22	-1.97	-1.62	17.00	54.47	16.97
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	1.62	-3.18	-1.66	-2.85	-30.33	-42.15	-19.25
WTI CRUDE OIL PRICE LINKED ETF (1671)	0.69	-2.89	0.69	-0.14	0.74	39.46	10.19
FIDELITY MSCI TELECOMMUNICATION SERVICES INDEX ETF (FCOM)	-0.41	-2.80	-1.11	-4.56	5.78	17.20	4.33

Best Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
DIREXION DAILY BRAZIL BULL 3X SHARES (BRZU)	-3.00	56.52	5.87	23.70	27.46	396.11	113.29
DIREXION DAILY LATIN AMERICA BULL 3X SHARES (LBJ)	-4.71	48.33	1.67	23.45	14.95	180.67	55.18
DIREXION DAILY RUSSIA BULL 3X SHARES (RUSL)	-4.36	-0.38	-6.12	-1.19	42.76	173.37	52.21
SPDR S&P METALS & MINING ETF (SSGG)	-0.25	9.34	-0.08	5.52	27.37	128.02	40.21
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (1325)	-1.43	20.65	7.40	12.94	20.25	116.43	39.26
NEXT FUNDS IBOVESPA LINKED EXCHANGE TRADED FUND (01311087)	-1.36	19.28	5.87	10.70	19.61	114.59	37.69
DB X-TRACKERS MSCI BRAZIL INDEX UCITS ETF (XMBR)	-1.11	17.72	5.20	10.97	18.35	111.90	36.61
CANADIAN LIFE COS SPLIT CORP (LFE)	-0.62	12.56	-1.08	7.32	114.60	104.10	56.24
ISHARES MSCI BRAZIL UCITS ETF (INC) (IBZL)	-2.10	18.73	3.87	8.71	16.38	100.06	32.26
ISHARES MSCI BRAZIL UCITS ETF (CSBR)	-1.53	17.86	3.00	9.01	16.69	100.03	32.18
FINANCIAL 15 SPLIT CORP (FTN)	-0.58	13.13	-0.85	4.39	36.10	98.18	34.46
KAYNE ANDERSON ENERGY TOTAL RETURN FUND INC (KYE)	-0.63	6.69	-2.70	2.02	17.28	96.39	28.25
BNY MELLON GLOBAL FUNDS PLC - BRAZIL EQUITY FUND (HZ5R)	-0.82	17.91	1.98	7.37	18.57	96.18	31.03
CANADIAN BANC CORP (BK)	-0.30	14.95	3.31	9.90	39.02	94.71	36.74
LIFE & BANC SPLIT CORP (LBS)	-0.29	11.02	0.88	6.34	40.92	89.27	34.35
MARKET VECTORS JUNIOR GOLD MINERS ETF (VE42)	0.62	25.98	1.83	11.79	-11.31	88.58	22.72
BLACKROCK WORLD MINING TRUST PLC (BRWM)	-2.33	17.08	-1.95	8.04	22.21	87.78	29.02
ALLIANZ ROHSTOFFONDS - A (DJFK)	-0.29	15.03	2.20	5.31	20.65	80.99	27.29
NEUBERGER BERMAN MLP INCOME FUND INC (NML)	-0.19	13.27	0.43	9.03	19.37	77.56	26.60
UBS HANA AMBATOVY NICKEL OVERSEAS INVESTMENT COMPANY 1 (2772642)	0.29	9.62	2.70	3.49	31.26	74.47	27.98

Worst Funds 1yr

Name	yesterday	ytd	1week	1month	6months	1yr	Rank
PROSHARES ULTRASHORT MSCI BRAZIL CAPPED (BZQ)	2.12	-28.59	-3.77	-15.18	-34.42	-83.23	-34.15
LYXOR ETF IBEX 35 DOBLE INVERSO DIARIO (2INVE)	1.62	-3.18	-1.66	-2.85	-30.33	-42.15	-19.25
VELOCITYSHARES 3X LONG NATURAL GAS ETN (UGAZ)	0.41	-58.48	-15.26	-39.64	-36.25	-41.06	-33.05
LYXOR ETF FTSE MIB DAILY DOUBLE SHORT XBEAR (XBRMIB)	2.22	3.40	-0.09	2.51	-35.14	-41.04	-18.44
SPOTR BEAR OMXS30 (SPBEAOMX)	0.19	-6.16	-0.19	-6.66	-27.92	-39.41	-18.55
SIMPLEX CHINA BEAR 1X H-SHARE ETF (1573)	1.24	-8.88	-1.90	-6.95	-8.52	-29.14	-11.63
SIMPLEX CHINA BEAR 1X H-SHARE ETF (9D31212C)	-0.10	-10.51	-3.54	-8.07	-8.84	-28.93	-12.34
LYXOR UCITS ETF IBEX 35 INVERSO DIARIO (INVEX)	0.79	-1.16	-0.85	-1.78	-18.71	-23.96	-11.33
LYXOR ETF FTSE MIB DAILY SHORT BEAR (BERMIB)	0.83	1.92	-0.31	0.98	-21.64	-23.01	-11.00
YINHUA CONSUMPTION THEME FUND (150048)	-0.43	-0.26	-0.49	0.64	-11.03	-22.78	-8.42
INVESCO KOREAN EQUITY FUND - A INC (IUVD)	-0.04	7.60	2.11	3.98	-13.98	-17.78	-6.42
DB X-TRACKERS II IBOXX GLOBAL INFLATION-LINKED UCITS ETF-GBP (X03E)	-0.71	4.10	-0.84	2.85	-5.56	-17.69	-5.31
ETFS WHEAT (OD7S)	-3.46	10.69	-1.12	3.64	-4.03	-17.14	-4.66
PROSHARES ULTRASHORT MSCI MEXICO CAPPED IMI (SMK)	1.44	-7.67	3.97	-14.62	19.25	-15.81	-1.80
PROSHARES ULTRA MSCI MEXICO CAPPED IMI (UMX)	-0.26	7.45	-3.75	15.79	-30.43	-13.20	-7.90
AMUNDI ETF MSCI EUROPE TELECOM SERVICES UCITS ETF (CT5)	-0.84	-1.17	0.44	-4.47	-9.06	-11.93	-6.26
MIRAE ASSET TIGER CHINA CONSUMER ETF (150460)	-1.02	8.31	2.19	5.54	-9.68	-10.63	-3.15
JUPITER EUROPEAN OPPORTUNITIES TRUST PLC (JEO)	-0.84	4.86	-0.13	0.76	-2.51	-8.78	-2.67
TEUCRIUM CORN FUND (CORN)	-0.10	5.51	-0.40	1.49	2.97	-7.83	-0.94
RAIFFEISEN - R 301 FUND (R301FDA)	0.39	-1.12	0.01	-1.40	-10.50	-4.75	-4.16

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

Russia Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Russi a ADR/GDR UCITS ETF	24.52
Fixed Income	DWS Russia Bond Fund is a "specialized"	19.73
Equity	iShares MSCI Russia Capped ETF is an exchange-traded	19.63
Equity	Market Vectors Russia ETF is an exchange-traded	17.81
Equity	Direxion Daily Russia Bull 3x Shares is an	9.55

Russia Outflows

assclass	profile	flow USD mln$
Equity	East Capital Lux - Russian Fund is an open-end	-11.59
Equity	JPMorgan Russian Securities plc is an investment	-9.48
Equity	East Capital - Russian Fund is an open-end	-9.19
Equity	DWS Russia is an open-end investment fund	-3.86
Equity	Swedbank Robur Rysslandsfonden is an open-end	-3.48

Source: MidLincoln Research

China Inflows

assclass	profile	flow USD mln$
Equity	CSOP FTSE China A50 ETF is an exchange-traded	88.18
Equity	Hang Seng Investment Index Funds Series -	20.04
Equity	LYXOR UCITS ETF CHINA ENTERPRISE HSCEI-C-USD	19.60
Equity	iShares Asia Trust - iShares FTSE A50 China	10.45
Equity	LYXOR UCITS ETF CHINA ENTERPRISE HSCEI -	7.29

China Outflows

assclass	profile	flow USD mln$
Equity	BlackRock Global Funds - China Fund is	-63.55
Equity	BlackRock Global Funds - China Fund is	-62.97
Equity	HSBC Global Investment Funds - Chinese	-62.77
Equity	BlackRock Global Funds - China Fund is	-62.63
Equity	BlackRock Global Funds - China Fund is an	-50.47

Source: MidLincoln Research

South Africa Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI South Africa ETF is an exchange-traded	13.19
Equity	The Lyxor South Africa ETF is a UCITS compliant	3.29
Equity	The Lyxor South Africa ETF is a UCITS	3.29
Equity	iShares MSCI South Africa UCITS ETF is an	1.10
Equity	HSBC MSCI South Africa UCITS ETF is an exchange-traded	0.09

South Africa Outflows

assclass	profile	flow USD mln$
Equity	The RBS Market Access FTSE/JSE Africa Top40	0.00
Equity	NEXT FUNDS FTSE/JSE Africa Top40 Linked	0.05
Equity	NEXT FUNDS FTSE/JSE Africa Top40 Linked Exchange	0.05
Equity	HSBC MSCI South Africa UCITS ETF is an exchange-traded	0.09
Equity	iShares MSCI South Africa UCITS ETF is an	1.10

Source: MidLincoln Research

Korea Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI South Korea Capped ETF is an	10.44
Equity	db x-trackers - MSCI Korea TRN Index	4.76
Equity	db x-trackers - MSCI Korea TRN Index UCITS	3.42
Equity	JPMorgan Funds - Korea Equity is an open-end	2.79
Equity	INVESCO Korean Equity Fund is a UCITS certified	2.73

Korea Outflows

assclass	profile	flow USD mln$
Equity	JPMorgan Korea Fund is a unit trust incorporated	-3.10
Equity	Fidelity Funds - Korea Fund is an open-end	-2.30
Equity	Matthews Korea Fund is an open-end fund	-1.80
Equity	Baring Korea Feeder Fund is an open-end	-0.78
Equity	INVESCO Korean Equity Fund is a UCITS	-0.46

Source: MidLincoln Research

India Inflows

assclass	profile	flow USD mln$
Equity	The Lyxor ETF MSCI India is a UCITS compliant	103.06
Equity	Franklin Templeton Investment Funds - Franklin	25.85
Equity	AMUNDI ETF MSCI INDIA UCITS ETF is a UCITS	24.24
Equity	HSBC Global Investment Funds - Indian Equity	23.50
Equity	GS India Equity Portfolio is a Portfolio	17.70

India Outflows

assclass	profile	flow USD mln$
Equity	Aberdeen Global - India Equity Fund is	-31.92
Equity	Vontobel India Fund is an open-end fund	-15.21
Equity	HSBC Global Investment Funds - Indian Equity	-4.37
Equity	Aberdeen Global - India Equity Fund is	-2.85
Equity	iShares MSCI India Index ETF is an exchange-traded	-2.67

Source: MidLincoln Research

Turkey Inflows

assclass	profile	flow USD mln$
Equity	DJ TURKEY TITANS 20 THEAM EASY UCITS ETF	0.00
Equity	The RBS Market Access Dow Jones Turkey Titans	0.00
Equity	db x-trackers MSCI Turkey Index UCITS ETF	0.00
Equity		-0.01
Equity	The Lyxor ETF Turkey (DJ Turkey Titans 20)	-0.06

Turkey Outflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Turkey ETF is an exchange-traded	-19.68
Equity	iShares MSCI Turkey UCITS ETF is an open-end,	-11.55
Equity	HSBC MSCI TURKEY UCITS ETF is an open-end,	-0.26
Equity	The Lyxor ETF Turkey (DJ Turkey Titans 20)	-0.06
Equity		-0.01

Source: MidLincoln Research

Brazil Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Brazil Capped ETF is an exchange-traded	383.61
Fixed Income	Santander FIC FI Renda Fixa I Credito Privado	41.93
Fixed Income	HSBC Global Investment Funds - Brazil Bond	26.92
Equity	Lyxor ETF Brazil (IBOVESPA) EUR is an exchange	17.40
Equity	Lyxor ETF Brazil (Ibovespa) USD is an exchange	11.65

Brazil Outflows

assclass	profile	flow USD mln$
Equity	BNY Mellon Global Funds PLC - Brazil Equity	-6.16
Equity	Handelsbanken Funds - Brazil is an open-end	-4.79
Fixed Income	Fondo Mutuo Security Fixed Income BRL is	-2.91
Equity	Direxion Daily Brazil Bull 3x Shares is an	-2.54
Equity	db x-trackers - MSCI Brazil TRN Index UCITS	-2.22

Source: MidLincoln Research

Australia Inflows

assclass	profile	flow USD mln$
Equity	iShares MSCI Australia UCITS ETF is an open-end,	45.26
Equity	iShares MSCI Australia ETF is an exchange-traded	17.22
Fixed Income		12.89
Equity	Australia Equity Income Fund is an open-end	7.81
Equity	Swisscanto AST Avant Aktien Ausland Index	6.40

Australia Outflows

assclass	profile	flow USD mln$
Equity	Candriam Equities L - Australia is a SICAV	-20.45
Equity	Candriam Equities L - Australia is a SICAV	-12.24
Equity	Fidelity Funds - Australia Fund is an open-end	-11.10
Equity	Fidelity Funds - Australia Fund is an open-end	-11.01
Equity	UBS (Lux) Equity Fund - Australia (AUD)	-6.20

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: Key Performing Fund Ideas

Top 20 Funds Longs Based on Momentum

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