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Weekly flows show inflows to all asset classes (equities, bonds and commodities) save money-market funds
Another week of outflows from EM equity funds ($4.2bn and 21st straight week); since Oct’13, EM equity & debt funds have recorded $75bn outflows amounting to a massive 7.5% of AUM
>>> Asset Class Flows
- MMF: $32bn outflows (largest in 4 weeks)
- Equities: $9.2bn inflows (6 straight weeks but all via ETF’s – VIG, VO, SPY)
- Bonds: modest $3.5bn inflows
- Commodities: 4 straight weeks of inflows ($0.2bn)
>>> Equity Flows
- EM: $4.2bn outflows (21 straight weeks of outflows = 6.7% of AUM = longest outflow streak on record by far)
- Europe: $1.0bn inflows (38 straight weeks) (Table 2)
- US: 6 straight weeks of inflows ($10.7bn inflows – all via ETF’s)
- Japan: first inflows in 3 weeks
>>> Fixed Income Flows
- 25 straight weeks of outflows from EM debt funds ($0.8bn) (last week’s “inflows” due to fund reclassification)
- 91 straight weeks of inflows to floating-rate debt ($0.3bn)
- 13 straight weeks of inflows to IG bond funds ($2.3bn)
- 6 straight weeks of inflows to HY bond funds ($1.2bn)
- First govt/tsy fund inflows in 5 weeks