Jan, 1, 2014 AUM: $1.56 million
2014 Inflows: $29.1 million
2014 Fund Growth: 1,860 percent
Peripheral eurozone equities have been hot in 2014, at least until a few weeks ago. For 61 basis points, the cap-weighted PGAL offers concentrated exposure to 20 of the largest Portugese companies. While it’s had impressive growth in 2014, PGAL is still a $38 million fund and trades with 38-basis-point spreads, so careful trading is warranted.
Interestingly, in the three weeks following Espirito Santo Financials Group’s trading suspension of its shares on July 10, PGAL actually had inflows of $6 million. If you look at flows from July 10 to Aug. 15, PGAL had total inflows of $22 million.