Company Overview ... EPFR Global provides fund flow
Company Overview ... EPFR Global provides fund flow and asset allocation data to financial institutions around the world. EPFR Global delivers a complete picture of institutional and individual investor flows and fund manager allocation driving global markets. EPFR Global EPFR Global Data sourced through direct relationships with fund managers and administrators The EPFR universe covers $11 trillion in globally domiciled funds EPFR 11 Daily, weekly, monthly updates plus historical time series 2 EPFR Global Data Services EPFR Global ................................................. Core EPFR datasets (based on data sourced directly from managers or administrators) Fund Flows Fund Allocations Derived datasets Country/Sector/ Industry Flows / / The amount of cash flowing into and out of funds worldwide. Fund manager allocations at monthend across the countries or sectors they invest in. Distribution of fund flows by country or sector. Combines data from fund flows and fund allocations. Equity/Bond Fund Flows Daily/Weekly/Monthly *also includes AUM, Performance
Fund Country Weightings Monthly Sector/Industry Weightings Monthly Equity/Bond Fund Holdings Monthly Country/Sector/Industry Flows Daily/Weekly/Monthly Regional packages available Daily/Weekly/Monthly 3 Users of EPFR Global Data ........... Banking and Brokerage Government/Central Banks / Strategists Capital Markets Research Analysts Regulators Monetary Authorities Types of usage : Proprietary trading Directional calls for clients Targeting sales efforts Market analysis Types of usage : Cross-border flow analysis Flows impact on currency as well as local equity/debt markets / Asset Managers Fund Managers Portfolio Analysts Marketing and Product Development Types of usage : Factor in investment process Competitive analysis, product dev elopment Asset allocation Quantitative analysis Hedge Funds Global Macro/EM/Discretionary / / Quantitative Investors Types of usage : Momentum trading Liquidity analysis Market timing 4 Fund Flows: Overview : .... Net inflows/outflows after removing Net inflows/outflows after removing market performance and currency impact market performance and currency impact /
/ Weekly flows as a % of AUM Weekly flows as a % of AUM Image from UI of a standard (A) rep 5 Fund Flows: Top down views of countries, sectors, style / capitalization : ( ), , / ..... (includes Global & US ) 6 Fund Flows: Drill down to detail view : ... 7 Country Weightings: Overview : Actual country and regional weightings (in % of AUM) Actual country and regional weightings (in % of AUM) ( ) ( ) 8 Sector/Industry Allocations: Overview / : Actual sector and industry weightings (in % of AUM) Actual sector and industry weightings (in % of AUM) ( ) ( ) .. Sector Allocations (GICS Level I) Industry Allocations (GICS Level II) 9 New! High Frequency Data: Country/Sector/Industry Flows ! : / / ... Country Flows Sector / Industry Flows (GICS Level I & II) 10 Universe Coverage: Equity Fund Flows : . Equity Fund
Flows Equity Fund Category Daily Report Weekly Report Monthly Report Calculates Net Flows (investor contributions/redemptions) for individual funds and for various fund categories ( / ) # of Funds $US billions # of Funds $US billions # of Funds $US billions GEM 665 146.93 673 163.19 809 228.84 Net Flows calculations exclude portfolio performance and currency fluctuations Asia ex-Japan 942 128.59 965 136.25 1,226 189.57 Reports are organized by fund category Latin America
190 27.27 192 29.30 212 40.30 EMEA 417 19.40 434 21.09 519 29.76 Global 2,657 471.74 2,711 492.35 3,583 1,257.52 Pacific 146 14.05 148 14.05 210 29.39 Japan 500 24.66 507 25.39 621 37.59 Western Europe
1,633 193.52 1,657 199.18 2,061 345.28 USA 5,343 1,160.58 5,492 1,290.55 6,653 2,613.71 Sector Funds 1,446 156.65 1,469 164.61 1,838 273.10 TOTAL 13,939 2,343.39 14,248 2,535.96 17,732 5045.06 History sheet shows weekly/monthly aggregate flows year- to-date by fund category / Includes funds registered globally (including US-registered funds) and tracks global investor flows rather than just that of US investors ( ) Other value-added qualitative fields include: Benchmark/Index Currency of funds
Domicile Advisor name 11 Universe Coverage: Bond Fund Flows : Bond Fund Flows Bond Fund Category Daily Report Weekly Report Monthly Report # of Funds $US billions # of Funds $US billions # of Funds $US billions Emerging Market 577 37.64 593 45.81 695 62.69 Global 881 160.29 886 164.60 1,085 417.36
High Yield 478 75.66 494 85.08 624 153.00 USA 1,905 454.80 2,060 493.64 2,348 860.23 Money Market 1,402 2,804.86 1,506 3,101.98 1,704 3,505.62 439 158.46 451 171.61 587 438.44 5,682 3,691.71 5,990 4,062.72 7,043 5,437.34 Balanced TOTAL Calculates Net Flows (investor contributions/redemptions) for individual
funds and for various fund categories ( / ) Net Flows calculations exclude portfolio performance and currency fluctuations Reports are organized by fund category History sheet shows weekly/monthly aggregate flows year- to-date by fund category / Includes funds registered globally (including US-registered funds) and tracks global investor flows rather than just that of US investors ( ) 12 Universe Coverage: Global Sector Fund Flows : .. Daily Report Global Sector Fund Flows Weekly Report Monthly Report Calculates Net Flows (investor contributions/redemptions) for individual funds and for various fund categories ( / ) Sector Fund Categories # of Funds $ US billions # of Funds $ US billions # of Funds $ US billions Commodities /Materials 154
34.50 153 34.74 185 64.55 Net Flows calculations exclude portfolio performance and currency fluctuations Consumer Goods 84 6.21 85 6.01 103 6.35 Reports are organized by fund category Energy 170 20.64 171 20.80 211 45.04 Financial 119 14.05 121 14.08 155 16.87 Health Care/ Biotech 177 15.53 183 18.33
271.12 History sheet shows weekly/monthly aggregate flows year- to-date by fund category / Includes funds registered globally (including US-registered funds) and tracks global investor flows rather than just that of US investors ( ) 13 Universe Coverage: Equity/Bond Fund Country Weightings : / .. Equity Fund Country Weighting Fund Category Individual funds grouped by fund category (GEM Equity, Global Equity, Asia ex-Japan Equity, Latin America Equity, EMEA Equity, Pacific region, EM Bond, Global Bond) ( , , , , / / , , , ) Average weightings of all individual funds and by investment manager (with multiple funds) History tabs each month show year-to-date historical country, regional and sector weighting aggregates by fund category , # of Funds $US billions Global Emerging Markets 87 96.53 Global (ex-US) 28 78.40 Global 60 46.33 Asia ex-Japan 102
33.85 Pacific 24 12.01 Latin America 31 13.42 Emerging Europe/Middle East/Africa 72 10.60 Bond Fund Country Weighting Fund Category # of Funds $US billions Europe 86 34.13 Global Emerging Markets 31 14.80 TOTAL 490 325.27 Global/International 19 18.17 Regional Emerging Markets 12 3.20 TOTAL 62 36.17 14 Universe Coverage: Equity Fund Sector Weightings : ..
Equity Fund Sector Weightings Fund Category Sector Level GICS I Industry Level GICS II # of Funds $US billions # of Funds $US billions Global Emerging Markets 66 72.91 50 61.46 Global (ex-US) 19 57.49 13 46.36 Global 62 47.03 31 31.84 Asia ex-Japan 92 29.27 46 14.77 Latin America 23 10.26 10 4.92
E. Europe/Middle East/Africa 40 5.43 15 1.25 W. Europe 85 34.02 43 22.84 Country Funds 253 106.98 139 54.71 TOTAL 640 363.39 347 238.15 Individual funds grouped by fund category (GEM Equity, Global Equity, Asia ex-Japan Equity, Latin America Equity, EMEA Equity, Pacific region, EM Bond, Global Bond) ( , , , , / / , , , ) Average weightings of all individual funds and by investment manager (with multiple funds) History tabs each month show year-to-date historical country, regional and sector weighting aggregates by fund category 15 Data History
Weekly Equity/Bond Fund Reports Available History Monthly Equity Fund Reports Available History Equity Fund Flows: Emerging Mkts & Global/ Intl. October 2000 - present Equity Fund Flows: Emerging Mkts & Global/Int'l.* January 1995 - present Equity Fund Flows: Dev. Europe & Japan January 2002 - present Equity Fund Flows: Dev. Europe & Japan January 2002 - present Equity Fund Flows: USA Global Sector Fund Flows Bond Fund Flows: EM, Int'l & High Yield* May 2003 - present January 2006 - present Available History Bond Fund Flows: EM, Int'l* & High Yield** January 1995 - present Bond Fund Country Flows - Aggregate January 2004 - present Global Sector Fund Flows October 2003 - present Equity Fund Country Flows - Aggregate** January 1996 - present Equity Fund Country Weightings *** January 1995 - present Equity Fund Sector Weightings**** Equity Fund Performance Equity Holdings Bond Fund Country Weightings*** Bond Fund Performance Bond Holdings May 2003 - present April 2001 - present *High Yield Bond Funds: data available from January 2005 - present
Monthly Bond Fund Reports Equity Fund Flows: USA November 2001 - present January 2004 - present July 2003 - present November 2001 - present January 2004 - present June 2004 - present * Int'l Bond Funds: data available from Sept 2000 - present ** High Yield Bond Funds: data available from January 2005 - present *** Int'l Funds: data available from July 2005 - present *Global /Int'l Funds: data available from Sept 2000 - present ** For those non-EM funds: Australia & New Zealand: data available from Jan 2000; Japan: data available from Jun 2001; Western Europe, Canada, USA: data available from Nov 2002 ***Global /Int'l Funds: data available from January 2001 - present ****Global /Int'l Funds: data available from February 2006 - present 16 Usage Example: Fund Flows Data : Managers use EPFR Global fund flows data to boost return and increase alpha by : EPFR Global Forecasting Market movements Values derived from fund flows are valuable in asset allocation decision making and serve as an early warning of upturns and downturns in markets. Flows are also a critical tool in measuring liquidity. Enhancing Models Build portfolio strategies based on aggregate net flow data for regions, sectors or asset classes. Market timing Enter early into sectors that show an opportunity for large future inflows. Use flows data to monitor changes in underlying demand for the sector. Monitoring FX markets Leverage the predictive power of fund flows to anticipate currency movements. Flows as a predictive Indicator
ING Investment strategist Brian Gendreau illustrates the predictive power of weekly flows. ING Brian Gendreau Using EPFR flow data for emerging markets, Gendreau developed a trading strategy. Brian Gendreau EPFR When back tested this strategy earned annualized gross returns of 35% vs. 16% for the index. 35% 16% 17 Usage Example: Country & Sector Weightings Data : .. Find the inflection points Future market movements and valuation Tracking smart money and what it can reveal? Identify liquidity opportunities Valuable information on the changing risk appetite of fund managers. Analyze market peers Identify industry leading allocation strategies to enhance your own positioning. : 10 EPFR MSCI All-Country World 18 Sample Clients "The flow data from EPFR has proved to be a useful source of added value in some quantitative models of equity markets we have constructed. It provides an extra dimension of information to that available from the typical equity market databases used by quants and so affords an edge in performance over much of the competition. EPFR Dr. Stephen Rees Head of Investment Process Research Schroders, London Sell Side
Buy Side Government/Media Emerging market mutual funds country allocations appear to contain information on future equity returns beyond that contained in standard valuation and momentum indicators. Analyst Global Asset Allocation Research Team Salomon Smith Barney I find the EPFR Global Country Weightings Report to be an invaluable tool in helping me track my competitors' regional and country allocations on a monthly basis. The Report is timely and very comprehensive. EPFR Global , Brad Aham Portfolio Manager State Street Global Advisors 19 Company History .. 1994: 1995-1999: 2000: 2001: 2001-2007: 2008: EPFR Global founded Cambridge, Massachusetts USA EPFR Global launches Russia Portfolio, Central Europe Portfolio and Brazil Portfolio: publications serving more than 600 institutional investor clients worldwide. EPFR Global launches Research and Analysis Services, providing independent research services for investment management firms. EPFR Global acquires Emerging Market Funds Research, Inc., a database of global equity and fixed income funds. EPFR Global expands fund database by four-fold to more than 15,000 equity and fixed income funds with $10 trillion in assets. Client base expanded by nearly 10-fold and includes leading institutional investors, global equity and fixed income analysts, strategists, investment managers, hedge funds, central bankers, etc. EPFR Global launches new Web Interface, new Country Flows data set, and Web Services for automated data delivery in trading and investment models. Key Contacts .. Dwight Ingalsbe Managing Director/Co-Founder Tel: (+1-617) 864-4999 ext. 26 Email: [email protected] Brad Durham Managing Director/Co-Founder Tel: (+1-617) 864-4999 ext. 24 Email: [email protected]
Ian Wilson Managing Director, Fund Data Tel: (+1-804) 217-8653 Email: [email protected] Cameron Brandt Director, Global Markets Analyst Tel: (+1-617) 864-4999 ext. 22 Email: [email protected] Simon Ringrose Managing Director, Sales Tel: (+1-617) 864-4999 ext. 30 Email: [email protected] Robert Magri Director, Sales & Business Dev. Tel: (+1-781) 562-1441 Email: [email protected] Patrick Paradiso Sales (Latin America) Tel: (+1-917) 543-6181 Email: [email protected] Rikolv Hatlehol-Desai Sales Director (EMEA) Tel: (+44) 7766 805657 Email: [email protected] William Lai Sales Director (Asia Pacific) Tel: (+852) 3796-7116 Email: [email protected] Young-il Sunwoo Sales (Korea) Tel: (+821) 10-7683-0016 Email: [email protected]
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