21 November 2025 | 11:24AM EST Economics Research WEEKLY FUND FLOWS Explaining the Unexplained Global fund flows, week ending November 19 | | | Global Fund Flows Summary | | | | --- | --- | --- | --- | --- | | | Millions USD | | % AUM | | | | 4wk sum | 19-Nov | 4wk avg | 19-Nov | | Equity | 101,113 | 26,217 | 0.10 | 0.10 | | Fixed Income | 75,922 | 18,265 | 0.21 | 0.20 | | of which: EM | 4,807 | 1,474 | 0.19 | 0.23 | | Money Markets | 147,506 | -13,988 | 0.35 | -0.13 | | FX Flows* | 52,197 | 8,399 | 0.09 | ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on global fund flows, particularly highlighting trends in equity and fixed income markets as of the week ending August 20, 2023 [2][4]. Core Insights - **Equity Fund Flows**: - Global equity funds experienced net inflows of $3 billion, a significant decrease from $26 billion in the previous week [4]. - Demand for global benchmark funds remained strong, while G10 equity funds saw negative flows, particularly in the US and Western Europe [4]. - Emerging Markets (EM) funds, especially those focused on mainland China, reported positive net inflows [4]. - **Fixed Income Fund Flows**: - Fixed income funds continued to attract strong inflows, with aggregate-type funds seeing net inflows of $23 billion, down from $27 billion the previous week [4]. - Investors showed a preference for inflation-protected securities, contributing to the overall strength in fixed income flows [4]. - **Money Market Funds**: - Money market fund assets increased by $1 billion, indicating a shift in investor sentiment towards safer assets [4]. - **Cross-Border FX Flows**: - Cross-border foreign exchange flows were robust, with the US dollar experiencing the strongest net inflows among G10 currencies [4]. - Notably, cumulative foreign inflows to mainland China turned net positive year-to-date, marking a significant recovery since April 2 [4]. Additional Important Insights - **Sector-Level Flows**: - Sector-level flows were subdued, with notable outflows from consumer goods and energy sectors, while industrials and technology sectors saw positive inflows [10]. - **Emerging Markets Performance**: - Emerging Markets overall faced outflows of $3.5 billion, but specific countries like Korea reported positive inflows [10]. - **Cumulative Foreign Flows**: - Cumulative foreign flows into the US and Euro area were nearly equal, despite a historically faster pace of inflows into the US in previous years [4]. - **Investment Trends**: - The report suggests that investors should consider these trends as part of a broader investment strategy, emphasizing the importance of diversification and sector allocation [3][4]. Conclusion - The data indicates a cautious but positive shift in fund flows towards emerging markets, particularly mainland China, while traditional equity markets in developed regions face challenges. The strong performance in fixed income and money market funds reflects a broader trend of risk aversion among investors [4][10].