The Markets March 17, 2011

Russell Launches Global 3000 Index Series

Russell Investments is launching the Russell Global 3000 Index series of 18 indexes — all sub-components of the Russell Global Index.
Reported by

The series, which extends Russell’s trademark U.S. market index naming method for the first time globally, features the Russell Global 1000 Index and Russell Global 2000 Index, as well as the Russell Global ex-US variants and growth and value sub-component indexes.  

According to the announcement, the new series uses the same global-relative methodology as the Russell Global Index. It also provides investors with exposure to the Russell Global investable universe through more liquid equity indexes with enhanced investability.  

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The Russell Global 3000 Index series is constructed with transparent rules and reconstituted annually to accurately reflect changes in global equity markets.  

Daily returns for the Russell Global 1000, Russell Global 2000, and Russell Global 3000 Indexes are available here. 
The Markets March 17, 2011

New Funds Bring Hefty Flows in Asia

Long-term funds in Asia saw $8.7 billion of flows in January, with new launches collecting over 100% of the total contributions, according to Strategic Insight, an Asset International company.
Reported by

Among new fund highlights for the month: Nomura Japan Undervalued Low-priced Equity Fund in Japan took in over $0.8 billion, and China’s E Fund Healthcare Sector Equity Fund absorbed nearly $0.6 billion. Lion Global Gold Fund, the first gold fund in China, attracted $0.5 billion in new money.  

Japan had $5.08 billion in net inflows for the month, with Bond High Yield ($3.11 billion), Real Estate ($2.52 billion), and Bond Asia Pacific ($1.93 billion) the categories with the highest inflows, SI data showed.  

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In India, net inflows were $6.22 billion, with Money Market funds drawing in the bulk of that amount – $5.97 billion.  

Net inflows totaled $1.15 billion for Hong Kong, with Equity Asia Pacific drawing in the bulk of that total ($1.03 billion).  

Indonesia favored Equity Asia Pacific funds ($356M), and posted a net inflow of $384M in January.  

Korea saw a net outflow of $4.22 billion for the month. According to SI data, the Mixed Conservative ($261M), Equity Sector/Other ($92M), and Equity North America ($27M) categories were the only ones to post a net inflow for the month.  

In Taiwan, mutual funds posted a net outflow of $454M in January. Bond Emerging Markets funds drew in the most assets, at $148M, while Money Market funds were the least favorite, posting a net outflow of $708M.  

Bond Asia Pacific funds were January’s favorite in Singapore ($29M). However, mutual funds in total posted a net outflow of $113M, with Equity Global ($-47M) and Bond Global ($-40M) funds leading that movement.   

An outflow of $646M from Money Market funds contributed to the net outflow of $735M in Thailand. The same was true for Malaysia in January, which saw a total net outflow of $295M, and a net outflow from Money Market funds of $292M.  

As of December 2010, China had a net outflow of $2.46 billion. China Mutual Fund Flows are updated quarterly by SI. 

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