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The 10 equity funds that saw the biggest outflows in Q1

In this gallery, we present the the top ten equity funds that saw the biggest outflows in the first quarter of 2020, based on data from Morningstar. These funds are registered for sale in the GCC.

Risky assets tend to fall off investors’ radars when volatility and uncertainty hit the markets. In the first quarter, Covid-19 and the oil price war have led to record breaking levels of market sell offs. 

In this gallery, we present the the ten equity funds that saw the biggest outflows in the first quarter of 2020, based on data from Morningstar. These funds are registered for sale in the GCC.

 

Risky assets tend to fall off investors’ radars when volatility and uncertainty hit the markets. In the first quarter, Covid-19 and the oil price war have led to record breaking levels of market sell offs. 

In this gallery, we present the the ten equity funds that saw the biggest outflows in the first quarter of 2020, based on data from Morningstar. These funds are registered for sale in the GCC.

 

10. Schroder ISF Japanese Equity

Net outflows: $347.3m

Schroder’s Japanese equity fund recorded net outflows of $347.3m in the first quarter.

The fund was launched in 2000 and is registered for sale in the UAE. The fund is managed by Kazuhiro Toyoda

Over a three month period ending March, the $1.6bn fund underperformed its benchmark by 2.8%. 

Top holdings in the portfolio include 3.9% in Nippon Telegraph & Telephone, 3.6% in ITOCHU, 3.0% in Keyence and 3.0% in Takeda Pharmaceutical. 

The largest exposures in sectors include 13.95 in information and communication, 10.6% in electric appliances and 7.8% in wholesale trade. 

9. Invesco Pan European Structured Equity

Net outflows: $439m

Invesco’s pan European structured equity fund registered net outflows of $439m in the first quarter.

Launched in 2000, the fund is co-managed by Michael Fraikin (pictured) and Thorsten Paarmann. The fund is registered for sale in the UAE. 

The $2.38bn fund underperformed its benchmark by 1.13% year-to-date over the first quarter. 

The fund allocates 20.2% of the portfolio to consumer staples, 15.6% to healthcare and 14.3% to communication services. 

Top holdings include 1.7% in Zurich Insurance, 1.7% in Atlas Copco ‘A’, and 1.5% in Endesa. 

8. RAM (Lux) Systemic Funds Emerging Markets Equities

Net outflows: $468.8m

RAM Active Investment’s emerging markets equities fund registered net outflows of $468.8m in the first quarter. 

Launched in 2003, the fund is managed by a trio of Maxime Botti (pictured), Thomas de Saint-Seine and Emmanuel Hauptmann

The $474m fund underperformed its MSCI index by 2.18% over three months ending March. The fund is registered for sale in the UAE.

Top holdings in the portfolio include 1.07% in Samsung Electronics, 1.01% in Inter RAO UES PJSC and 1.00% in Severstal PAO. 

The fund’s top sector exposures are 15.3% in information technology, 15.3% in financials and 11.1% in materials. 

7. BGF Asian Growth Leaders

Net outflows: $478.8m

BlackRock’s Asian growth leaders fund registered net outflows of $478.8m in the first quarter.

Launched in 2012, the fund is co-managed by Stephen Andrews and Emily Dong (pictured). The fund is registered for sale in the UAE.

The $1.5bn fund underperformed its benchmark by 1.22% over three months ending March. 

Top holdings in the portfolio are 9.63% in Tencent Holdings, 7.40% in Samsung Electronics and 4.40% in Alibaba. 

Top sector exposures include 21.19% in communication, 18.78% in consumer discretionary and 15.06% in financials. 

6. Goldman Sachs Global CORE Equity Portfolio 

Net outflow: $508m

Goldman Sachs’ global core equity portfolio registered net outflows of $508m in the first quarter.

Launched in 2006, the fund’s portfolio manager remains undisclosed. The $3.4bn fund is registered for sale in the UAE. 

Over three months ending March, the fund underperformed its MSCI index by 2.41%. 

Top holdings in the portfolio are 4.5% in Microsoft, 3.8% in Apple and 3.6% in Amazon.com. 

The fund’s top sector exposure include 19.85% in technology, 17.33% in healthcare and 13.11% in financial services. 

5. Schroder ISF US Large Cap 

Net outflows: $525.8m

Schroder’s ISF US large cap fund registered net outflows of $525.8m over the first quarter. 

Launched in 2002, the fund is managed by Frank Thormann. The $1.6bn fund is registered for sale in the UAE. 

Over three months ending March, the fund underperformed its target S&P 500 index by 0.3%. 

The fund allocates 25.2% to the information technology sector, 19.4% to healthcare and 14.5% to communication services. 

Top includes in the portfolio are 7.4% in Microsoft, 6.4% in Alphabet and 6.1% in Amazon.com.  

4. Jupiter European Growth

Net outflows: $540m 

Jupiter Asset Management’s European growth fund registered net outflows of $540m over the first quarter.

Launched in 2001, the fund is co-managed by Mark Heslop (pictured) and Citywire A-rated Mark Nichols. The $1.3bn fund is registered for sale in the UAE. 

Over the first quarter, the fund outperformed its benchmark by 8%. 

The fund allocates 22.8% to the healthcare sector, 20.5% to industrials and 16.6% to consumer goods.

Top holdings include 7.3% in RELX, 7.1% in Novo Nordisk and 6.0% in Dassault Systemes. 

3. Fidelity China Focus

Net outflows: $544.8m 

Fidelity’s China focus fund recorded net outflows of $544.8m over the first quarter.

Launched in 2003, the fund is managed by Jing Ning. The $2.98bn fund is registered for sale in Bahrain, Oman, Qatar and the UAE.

The fund underperformed its index by 5% over a three month period ending March. 

The fund allocated 28.5% to the financials sector, 18.3% to communication services and 12.2% to consumer discretionary. 

Top holdings in the portfolio are 8.1% in China Mobile, 7.0% in China Construction Bank, and 5.9% in Tencent Holdings. 

2. Schroder ISF EURO Equity

Net outflows: $561m

Schroder’s ISF Euro equity fund posted net outflows of $561m in the first quarter.

Launched in 2000, the fund is managed by Martin Skanberg. The fund is registered for sale in the UAE. 

Over three months ending March, the fund outperformed its MSCI target index by 0.1%. 

Top holdings of the fund include 4.7% in Sanofi, 4.0% in Prosus NV and 3.8% in Neste Oyj. 

The fund allocates 18.1% to the healthcare sector, 13.2% in financials and 13.1% in industrials. 

1. BGF Asian Dragon

Net outflows: $582.8m 

BlackRock’s Asian dragon fund recorded net outflows of $582.8m in the first quarter.

Launched in 1997, the $1.8bn fund underperformed its benchmark by 1.58% over a three month period ending March. The fund is co-managed by Stephen Andrews and Alethea Leung

The fund is registered for sale in Bahrain and the UAE. Top holdings in the portfolio are 7.76% in Tencent Holdings, 6.82% in Alibaba and 5.99% in Samsung Electronics. 

The fund invests 18.87% of its assets in the information technology sector, 15.95% in consumer discretionary and 15.76% in communications. 

 

Related Fund Managers

Alethea Leung
Alethea Leung
2/3 in Equity - Asia Pacific Including Japan (Performance over 1 year) Average Total Return: -12.08%
Martin Skanberg
Martin Skanberg
1/6 in Equity - Eurozone (Performance over 3 years) Average Total Return: -9.27%
Jing Ning
Jing Ning
5/6 in Equity - China (Performance over 3 years) Average Total Return: 10.7%
Frank Thormann
Frank Thormann
13/23 in Equity - US (Performance over 24 months) Average Total Return: 6.06%
Kazuhiro Toyoda
Kazuhiro Toyoda
1/6 in Equity - Japan (Performance over 3 years) Average Total Return: 3.83%
Emmanuel Hauptmann
Emmanuel Hauptmann
17/19 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: -9.39%
Thomas de Saint-Seine
Thomas de Saint-Seine
16/19 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: -9.39%
Maxime Botti
Maxime Botti
18/19 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: -9.39%
Thorsten Paarmann
Thorsten Paarmann
11/23 in Equity - Europe (Performance over 3 years) Average Total Return: -10.84%
Michael Fraikin
Michael Fraikin
12/23 in Equity - Europe (Performance over 3 years) Average Total Return: -10.84%
Mark Nichols
Mark Nichols
3/34 in Equity - Europe (Performance over 3 months) Average Total Return: -11.43%
Mark Heslop
Mark Heslop
4/34 in Equity - Europe (Performance over 3 months) Average Total Return: -11.43%
Emily Dong
Emily Dong
4/8 in Equity - Asia Pacific Excluding Japan (Performance over 3 years) Average Total Return: 2.27%
Stephen Andrews
Stephen Andrews
2/12 in Equity - Asia Pacific Excluding Japan (Performance over 1 month) Average Total Return: 11.07%