Global Research
Helping investment companies address key challenges, with unique analysis of the asset management industry from a worldwide perspective.

Learn more about the SI Global service

Latest Global Research Reports

Renewed Opportunities through FoFs/Sub-advisory Despite Q3 Outflows  Nov 25 2015
After a record high $828 billion of mutual fund flows during the first half of 2015, Q3 saw the first quarterly net outflows in nearly four years (since Q4’ 2011) — equity, bond, multi-asset and other long-term funds globally suffered a combined $82 billion in net redemptions, bringing down the year-to-date through September contributions to $746 billion. Q3 outflows were triggered by the market crash in China and a sharp decline of global commodity prices. In fact, if excluding $122 billion of net withdrawals from Chinese funds, the Q3 flows would be positive at $40 billion. We expect that long-term mutual fund flows during the last quarter of 2015 and early 2016 will recover and continue albeit at a slower pace.

Global FlowWatch - September 2015  Nov 19 2015
In September investors withdrew $57 billion from long-term funds globally, the second consecutive month of net outflows this year. The aggregate year-to-date net contributions declined to $733 billion through Q3.‘Other’ funds, which include alternative investment, guaranteed and real estate products, garnered $11 billion in net new money while all other asset classes experienced a collective $67 billion in net redemptions. Bond products recorded the largest outflows at $37 billion followed by mixed vehicles at $28 billion and equity funds at $2 billion.

Asia FlowWatch - September 2015  Nov 5 2015
Long‐term funds in Asia experienced roughly $26 billion in net outflows in September, as China suffered $38 billion in net redemptions during the month (or $122 billion in net outflows during Q3, following the market crash in late June). Nevertheless, Japan continued to attract strong inflows, totaling $12 billion in September and $36 billion in Q3. Equity Funds led the contributions with $7 billion mainly from Japan, and real estate products added over $1 billion, while all other asset classes experienced net outflows. Mixed asset funds, mostly from China, suffered net redemptions of $32 billion. Bond and "other" funds, including alternative and guaranteed products, saw moderate net redemptions of roughly $1 billion each for the month.

Europe FlowWatch - September 2015  Nov 5 2015
Investors redeemed a net €8 billion from long-term funds in European and cross-border markets in September, slightly bringing down the aggregate year to date flows to just under €300 billion. Mixed vehicles garnered the most new money at €5 billion, followed closely by 'Other' funds at €4 billion, and equity products added €1 billion. Meanwhile, bond products saw net redemptions of €19 billion through the month.

ETF FlowWatch - September 2015  Nov 2 2015
ETF flows worldwide in September totaled $24 billion, following $21 billion of net deposits in August. Europe including cross-border markets only saw $3 billion in net new money, $7 billion lower than the prior month, while the U.S. and Asia gathered $12 billion and $7 billion, respectively. Global ETF flows year-to- date through September reached $243 billion while ETF assets worldwide remained almost $3 trillion.The two biggest ETF new launches during September were Japan-domiciled DIAM ETF JPX Nikkei 400 and DIAM ETF TOPIX, attracting $348 million and $ 342 million in net flows, respectively.

Global FlowWatch - August 2015  Oct 21 2015
In August long-term funds globally experienced net redemptions of $42 billion, the first worldwide net outflows in more than 12 months, triggered by a sell-off across global equity markets late in the month. The aggregate year to date net flows declined to $874 billion through August. ‘Other’ funds, including absolute return and liquid alternative, as well as real estate products, took in $18 billion in net flows, and mixed funds managed to gain $6 billion, which was completely offset by combined outflows of $67 billion from equity and bond funds. At the regional level, Asia (excluding pre-existing funds in China) again captured the most of global new money with $24 billion, followed by Canada, Local Europe, and Latin America collecting about $2 billion each. In comparison, cross-border long-term funds saw $25 billion in net redemptions, while the largest outflows occurred in the U.S. where investors withdrew a net $47 billion in August.

ETF FlowWatch - August 2015  Oct 15 2015
ETF flows worldwide in August totaled $21 billion, experiencing a 47.5% drop MoM. The biggest drop came from the U.S., equaling a decline of 86.6% MoM in ETF net inflows ($3 billion). Global net deposits year-to- date through August reached $214 billion while ETF assets globally remained almost $3 trillion. The U.S. saw net redemptions of $5.6 billion in equity ETFs, the first outflows since February this year, which was largely attributed to the stock market turmoil. While emerging market ETFs in general suffered large outflows, SPDR S&P 500 ETF, the largest ETF in the world, attracted $3.5 billion this month.

List of All Published SIG Reports


For more information or individual assistance, please contact Jag Alexeyev at (1) 212-944-4456 or e-mail