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.
 Data sourced through direct relationships with fund managers and
administrators
 The EPFR universe covers $15 trillion in globally domiciled funds.
 Daily, weekly, monthly updates plus historical time series
1
EPFR Global Data Services
……………………………………………………………………………….................................................
Core EPFR datasets
(based on data sourced directly from managers or administrators)
Fund
Flows
The amount of
cash flowing
into and out of
funds worldwide.
 Equity/Bond Fund Flows –
Daily/Weekly/Monthly
*also includes AUM, Performance
Derived datasets
Fund
Allocations
Country/Sector/
Industry Flows
Fund manager
allocations at
month-end
across the
countries or
sectors they
invest in.
Distribution of fund
flows by country or
sector. Combines
data from fund flows
and fund allocations.
 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
2
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
Hedge Funds
 Fund Managers
 Portfolio Analysts
 Marketing and Product Development
 Global Macro/EM/Discretionary
 Quantitative Investors
Types of usage:
 Factor in investment process
 Competitive analysis, product dev
 Asset allocation
 Quantitative analysis
Types of usage:
 Momentum trading
 Liquidity analysis
 Market timing
3
Fund Flows: Overview
…………………………………………………………………………………………...
Net inflows/outflows after removing
market performance and currency impact
Weekly flows as a % of AUM
(A)
4
Fund Flows: Top down views of countries, sectors, style / capitalization
…………………………………………………………………………………………………………………………………………………………………………………………….…………………………………………………………....
(includes Global & US )
5
Fund Flows: Drill down to detail view
……………………………………………………………………………..………………………………………………….………….……
6
Country Allocations: Overview
………………………………………………………………………………………………………………
Actual country and regional weightings (in % of AUM)
7
Sector/Industry Allocations: Overview
…………………………………………………………………………………………………………………………………………………………..
Sector Allocations (GICS Level I)
Actual sector and industry weightings (in % of AUM)
Industry Allocations (GICS Level II)
8
High Frequency Data: Country/Sector/Industry Flows
………………………………………………………………………………………………………………………………………………………………………………………………………………………………..………….
Country Flows
Sector / Industry Flows (GICS Level I & II)
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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
963
341.02
970
353.17
1132
447.48
• Net Flows calculations exclude portfolio
performance and currency fluctuations
Asia
ex-Japan
1468
239.43
1490
240.00
1714
315.88
• Reports are organized by fund category
Latin
America
306
56.88
307
57.86
333
76.39
EMEA
567
56.16
575
55.44
649
65.35
Global
4017
988.76
4067
1003.95
5188
2274.48
Pacific
213
26.45
207
24.98
275
44.72
Japan
603
42.13
604
43.19
702
60.22
Western
Europe
2538
437.16
2529
424.01
2998
623.17
USA
6404
1985.62
6587
2198.11
8005
4326.52
Sector
Funds
2590
554.72
2603
560.86
3074
774.47
TOTAL
17079
4173.61
17336
4400.71
20996
8234.21
GEM
• 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:

Retail vs Institutional funds

Active vs Passive

ETF vs MF

Domicile

Currency of funds

Benchmark of fund

Advisor name
10
Universe Coverage: Bond Fund Flows
…………………………………………………………………………………………………………………………………………………………
Bond Fund
Flows
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
• Net Flows calculations exclude portfolio
performance and currency fluctuations
943
110.77
967
125.31
1075
165.66
• Reports are organized by fund category
2,097
478.82
2,123
497.36
2,513
683.52
• History sheet shows weekly/monthly
aggregate flows year- to-date by fund
category
780
182.09
799
197.52
998
326.28
USA
2,699
786.34
2,967
871.74
3,691
1,927.62
Money
Market
1,890
2,821.85
1,977
3,040.75
2,156
3,249.38
624
311.37
645
330.53
819
746.44
9,033
4,691.24
9,478
5,063.21
11,252
7,098.9
Bond Fund
Category
Emerging
Market
Global
High Yield
Balanced
TOTAL
• 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:

Retail vs Institutional funds

Active vs Passive

ETF vs MF

Domicile

Currency of funds

Benchmark/Index

Advisor name
11
Universe Coverage: Global Sector Fund Flows
……………………………………………………………………………………………………………………………………………………………………………………..……
Global Sector
Fund Flows
Sector Fund
Categories
Daily
Report
Weekly
Report
Monthly
Report
# of
Funds
$ US
billions
# of
Funds
$ US
billions
# of
Funds
$ US
billions
Commodities/
Materials
636
239.32
639
239.00
699
312.25
Consumer
Goods
141
14.94
141
14.93
175
17.31
Energy
315
67.52
315
67.85
358
104.94
Financial
176
29.44
177
29.82
223
34.08
Health Care/
Biotech
190
19.73
197
23.62
260
53.01
Infrastructure
100
8.44
100
8.43
108
9.26
Real Estate
557
111.82
559
115.23
669
150.54
Technology
293
40.30
296
44.27
348
55.98
Telecom
55
4.08
56
6.21
83
7.65
Utilities
136
27.03
136
27.04
151
29.45
TOTAL
2,599
562.62
2,616
576.40
3,074
774.47
• 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
Other value-added qualitative
fields include:

Retail vs Institutional funds

Active vs Passive

ETF vs MF

Domicile

Currency of funds

Benchmark/Index

Advisor name
12
Universe Coverage: Equity/Bond Fund Country Weightings
………………………………………………………………………………………………………………………………………………………………………………………………………………………………………..…
# of Funds
$US
billions
Global Emerging Markets
108
199.98
• Individual funds grouped by fund category (GEM
Equity, Global Equity, Asia ex-Japan Equity, Latin
America Equity, EMEA Equity, Pacific region, Global
Equity, EM Bond, Global Bond)
Global (ex-US)
39
131.80
•
Global
62
83.31
Asia ex-Japan
113
81.19
Pacific
28
13.89
Equity Fund Country Weighting
Fund Category
Latin America
36
32.50
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
Bond Fund Country
Weighting Fund Category
# of
Funds
$US
billions
Global Emerging Markets
49
47.18
Global/International
16
60.87
Emerging Europe/Middle East/Africa
72
23.45
Western Europe
104
71.95
Regional Emerging Markets
13
8.82
TOTAL
562
638.07
TOTAL
78
116.95
13
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
81
161.30
62
123.13
Global (ex-US)
34
101.69
26
81.12
Global
66
84.07
38
55.24
Asia ex-Japan
165
148.87
98
107.90
Latin America
35
51.09
23
40.69
E. Europe/Middle East/Africa
67
29.97
39
15.83
W. Europe
149
132.71
96
109.71
Country Funds
90
120.69
55
82.11
TOTAL
687
830.39
437
615.73
• Individual funds grouped by fund
category (GEM Equity, Global Equity,
Asia ex-Japan Equity, Latin America
Equity, EMEA Equity, Pacific region,
Global Equity, EM Bond, Global Bond)
• Average weightings of all individual
funds and by investment manager
(with multiple funds)
• History tabs each month show year-todate historical country, regional and
sector weighting aggregates by fund
category
14
Data History
……………………………………………………
Weekly Equity/Bond Fund Reports
Available History
Monthly Equity Fund Reports
Available History
Equity Fund Flows:
Emerging Markets & 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
Equity Fund Flows: USA
May 2003 - present
Global Sector Fund Flows
October 2003 - present
Equity Fund Country Flows - Aggregate**
January 1996 - present
Equity Fund Country Weightings ***
January 1995 - present
April 2001 - present
*High Yield Bond Funds: data available from January 2005 - present
Monthly Bond Fund Reports
Available History
Bond Fund Flows: EM, Int'l* & High Yield**
January 1995 - present
Bond Fund Country Flows - Aggregate
January 2004 - present
Equity Fund Sector Weightings****
Equity Fund Performance
Equity Holdings
Bond Fund Country Weightings***
Bond Fund Performance
Bond Holdings
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
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Usage Example: Fund Flows Data
…………………………………………………………………………………………………………………………………………
Managers use EPFR Global fund flows data
to boost return and increase alpha by :
 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.
 Using EPFR flow data for emerging markets,
Gendreau developed a trading strategy.
 When back tested this strategy earned
annualized gross returns of 35% vs. 16% for
the index.
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Usage Example: Country & Sector Allocations 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.
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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."
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.“
Brad Aham
Portfolio Manager
State Street Global Advisors
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Company History
…………………………………………………………..……………
1994:
EPFR Global founded Cambridge, Massachusetts USA
1995-1999:
EPFR Global launches Russia Portfolio, Central Europe Portfolio and Brazil Portfolio:
publications serving more than 600 institutional investor clients worldwide.
2000:
EPFR Global launches Research and Analysis Services, providing independent research
services for investment management firms.
2001:
EPFR Global acquires Emerging Market Funds Research, Inc., a database of global equity and fixed
income funds.
2001-2007:
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.
2008:
EPFR Global launches new Web Interface, new Country Flows data set, and Web Services for
automated data delivery in trading and investment models.
2009:
EPFR Global launches initiative to provide weekly and monthly global fund flows data through Haver
Analytics DLX platform.
2010:
EPFR Global is acquired by Informa plc and becomes a wholly-owned subsidiary of Informa USA.
19
Key Contacts
……………………………..…………………………
Dwight Ingalsbe
Managing Director/Co-Founder
Tel: (+1-617) 864-4999 ext. 26
Email: ingalsbe@epfr.com
Brad Durham
Managing Director/Co-Founder
Tel: (+1-617) 864-4999 ext. 24
Email: durham@epfr.com
Ian Wilson
Managing Director, Fund Data
Tel: (+1-804) 217-8653
Email: ian.wilson@epfr.com
Cameron Brandt
Director, Research
Tel: (+1-617) 864-4999 ext. 22
Email: brandt@epfr.com
Simon Ringrose
Managing Director, Sales
Tel: (+1-617) 864-4999 ext. 30
Email: simon.ringrose@epfr.com
Patrick Paradiso
Sales (Latin America)
Tel: (+1-917) 543-6181
Email: patrick.paradiso@epfr.com
Jean-Claude Moos
Sales Executive
Tel: (+1-212) 907-5814
Email: jcmoos@epfr.com
Rikolv Hatlehol-Desai
Sales Director (EMEA)
Tel: (+44) 7766 805657
Email: rikolv@epfr.com
Young-il Sunwoo
Sales (Korea)
Tel: (+821) 9608-0101
Email: yisunwoo@dreamwiz.com
Pui-Kam Ho
Sales (Hong Kong)
Tel: (+852) 3796 7116
Email: puikam.ho@epfr.com
Robert Sheridan
Business Development Manager, Asia
Tel: (+65) 8484 1094
Email: robert.sheridan@epfr.com
Todd Willits
Manager, Client Services
Tel: (+1-617) 864-4999 ext. 27
Email: todd@epfr.com
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