FICC Research Credit & Macro Research 10 January 2025 EM Flows New year, same pattern The first week of 2025 brought little 'new' news for EM bond fund flows. EM credit funds saw more outflows, similar in size to the elevated levels of December. Again, outflows were concentrated in ETF products. In contrast, inflows into local-currency EM bond funds accelerated with one of the largest weekly volumes recorded over the past 12 months. For equity fund flows, the year started more upbeat, however. After three w ...

Summary of US REITs & Lodging Fund Flow Insights Industry Overview - The report focuses on the US Real Estate Investment Trusts (REITs) and lodging sectors, analyzing fund flows and market trends as of December 26, 2024 Key Points Fund Flows - Total estimated weekly outflows from the US market reached approximately $743 million, with a total of $6.9 billion in outflows for 2024 [5][6][24] - US-registered mutual funds reported outflows of about $9.3 billion in 2024, following outflows of $10.7 billion in 2023 and $14.0 billion in 2022 [24] - US-registered ETFs experienced inflows of approximately $2.1 billion in 2024, indicating a mixed performance within the REIT sector [6][24] Japanese Fund Flows - Japanese-registered mutual funds saw outflows of around $2.9 billion from the US market in 2024, following a trend of fluctuating inflows and outflows over the previous years [4][12] - Total gross outflows from Japan were approximately $161 million in the last week, with US-focused funds contributing to this decline [7] Non-Traded REITs - Non-traded REITs raised about $5.0 billion year-to-date in 2024, but faced redemption requests totaling approximately $8.6 billion [8] Market Dynamics - The report highlights that the over-distribution of dividends from Japan funds has added selling pressure, contributing to total net outflows of approximately $8.1 billion in 2024 [5][6] - The US REIT sector has experienced significant outflows, with a total of $6.9 billion year-to-date, indicating a challenging environment for real estate investments [6][24] Historical Context - The report provides a historical perspective on fund flows, showing a pattern of outflows in recent years, with notable inflows in 2021 and 2014 [24] Additional Insights - The report emphasizes the importance of monitoring fund flows as a key indicator of market sentiment and potential investment opportunities within the REIT sector [5][6] - The analysis includes detailed figures on assets under management (AUM) and the performance of various fund types, providing a comprehensive view of the current state of the market [3][12][24] This summary encapsulates the critical insights from the report, focusing on fund flows, market dynamics, and historical trends within the US REITs and lodging sectors.

shuinu9870 shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： Global Markets Strategy shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： Global Markets Strategy 11 December 2024 J P M O R G A N This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not b ...

Summary of Fund Flow Insights - December 6, 2024 Industry Overview - The report focuses on fund flows in the equity and bond markets, particularly highlighting trends in Developed Markets (DM) and Emerging Markets (EM) as of December 4, 2024 Key Points Fund Flows - **Equity Funds**: Inflows of **US$8.2 billion** into equity funds were recorded, with bond funds seeing inflows of **US$4.9 billion** during the week ending December 4, 2024 [2][3] - **ETFs**: Strong inflows into US and Global ETFs at **US$13.3 billion** and **US$4.8 billion** respectively, while non-ETFs experienced seasonally weak flows [2] - **Emerging Markets (EM)**: Notably, there was a **US$0.6 billion** inflow into EM funds, marking the first net inflow in 8 weeks [3] - **Geographic Breakdown**: - Taiwan and Korea ETFs saw inflows of **US$0.6 billion** and **US$0.5 billion** respectively, while GEM ETFs had inflows of **US$0.3 billion** [3] - China funds continued to experience net redemptions of **US$0.2 billion** [3] Regional Insights - **India**: Foreign Institutional Investor (FII) flows have been volatile, with almost net zero flow during the week [3] - **Taiwan**: Experienced a foreign inflow of **US$1.0 billion** [3] - **Korea**: Continued to see a net outflow of **US$0.8 billion** [3] - **Japan**: Recorded a second consecutive week of foreign outflow totaling **US$1.2 billion** [3] Performance Metrics - **European Funds**: Experienced significant outflows of **US$5.1 billion** [2] - **Cumulative Flows**: The report includes figures showing cumulative equity fund flows and performance metrics across various regions, indicating a mixed performance across DM and EM markets [4][10] Additional Insights - The report emphasizes the importance of considering potential conflicts of interest due to Citigroup's business relationships with covered companies [6] - The data presented includes various figures and charts illustrating fund flows by geographic focus, performance comparisons, and cumulative flows over the past 52 weeks [4][10][20] Conclusion - The fund flow insights indicate a recovery in EM fund flows, particularly in Taiwan and Korea, while European funds face significant outflows. The overall market sentiment appears cautious, with varying performance across different regions and fund types [2][3][4]

6 December 2024 Global bond flows compass ixed Incon 2024 in review: Flows in favour of high yielders � Asia: India Gsecs recorded their largest inflow in EM Asia followed by KTBs in Korea; sizeable outflows from China government bonds ♦ LatAm: Strong inflows into Brazil local government debt; foreign demand for Mexico Mbonos has remained choppy ◆ CEEMEA: Strong foreign inflows into long-dated PolGBs and SAGBs; non-residents trimmed their exposure in CZGBs Chart of the week: Strong y-t-d foreign inflows int ...

M Foundation Asia EM Equity Strategy | Asia Pacific November 29, 2024 05:56 AM GMT Flows & Positioning Guide In October, GEM long-only managers continued to reduce underweights in China & Malaysia, and added to Brazil overweight, funded by adding underweights in India & Taiwan and cutting Korea overweight. In the week ended November 27, 2024, EM equity funds had outflows led by China and India. EM weekly flows – Outflows continued, led by China and India: EM equity funds recorded US$0.8bn outflows for the w ...

V i e w p o i n t | 28 Nov 2024 22:00:37 ET │ 30 pages Fund Flow Insights Outflows from both equity and bond funds in EM CITI'S TAKE US$29.4bn inflow into equity funds — In the week ended 11/27/2024, bond funds and equity funds saw inflows of US$10.3bn and US$29.4bn respectively. US funds continue to see strong inflows with US$40.7bn going into their ETFs. Global funds also enjoyed an inflow of US$2.6bn. Japan funds however had US$5.0bn of net redemptions. US$1.8bn outflow from EM funds — Outflows from Chin ...

Group 1: Market Overview - The total retail sales of consumer goods in China reached 35,356.4 billion CNY from January to September 2024, with a year-on-year growth of 3.3%[33] - Online retail sales amounted to 10,892.8 billion CNY, growing by 8.6% year-on-year, with physical goods online retail sales at 9,072.1 billion CNY, reflecting a growth of 7.9%[33] - The cosmetics market saw a retail value of 414.2 billion CNY in 2023, marking a recovery from a previous decline, but faced a downturn in 2024 with a retail value of 306.9 billion CNY[38] Group 2: Consumer Trends - Domestic beauty brands captured a market share exceeding foreign brands for the first time, with a growth rate of 50.4% in 2023[41] - The online sales of sensitive skin care products increased by 5% in 2024, with a total sales value of 3.5 billion CNY from January to September[54] - The demand for multi-functional products combining anti-aging and brightening effects is rising, with plant-based ingredients gaining popularity[100] Group 3: Regulatory Environment - Stricter regulations on cosmetic ingredients and labeling have been implemented, increasing market entry barriers for imported products[45] - The number of new cosmetic ingredient registrations reached 70 in 2024, with a significant increase in plant-based ingredients[84] Group 4: Product Performance - The top-selling categories in sensitive skin care include serums, creams, and masks, with a focus on visible results and multi-functional benefits[100] - New product launches in sensitive skin care are predominantly from domestic brands, with a notable emphasis on ingredient upgrades and eco-friendly packaging[81]