Company Overview...

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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. - PowerPoint PPT Presentation

Transcript of Company Overview...

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Company Overview………………………………………………………………………………...

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

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.

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Core EPFR datasets(based on data sourced directly from managers or administrators)

Derived datasets

Fund Flows

Fund manager allocations at month-end across the countries or sectors they invest in.

Equity/Bond Fund Flows – Daily/Weekly/Monthly *also includes AUM, Performance

Fund Country Weightings – Monthly Sector/Industry Weightings – Monthly Equity/Bond Fund Holdings – Monthly

Fund Allocations

Country/Sector/Industry Flows

The amount of cash flowing into and out of funds world-wide.

Distribution of fund flows by country or sector. Combines data from fund flows and fund allocations.

Country/Sector/Industry Flows – Daily/Weekly/Monthly

EPFR Global Data Services……………………………………………………………………………….................................................

Regional packages available – Daily/Weekly/Monthly

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Government/Central BanksGovernment/Central Banks

Asset ManagersAsset Managers Hedge FundsHedge Funds

Banking and BrokerageBanking and Brokerage

Strategists Capital Markets Research Analysts

Types of usage: Proprietary trading Directional calls for clients Targeting sales efforts Market analysis

Fund Managers Portfolio Analysts Marketing and Product Development

Types of usage: Factor in investment process Competitive analysis, product dev Asset allocation Quantitative analysis

Regulators Monetary Authorities

Types of usage: Cross-border flow analysis Flows impact on currency as well as local equity/debt markets

Global Macro/EM/Discretionary Quantitative Investors

Types of usage: Momentum trading Liquidity analysis Market timing

Users of EPFR Global Data………………………………………………………………………...…………………………………........

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(A)

Weekly flows as a % of AUMWeekly flows as a % of AUM

Net inflows/outflows after removing market performance and currency impact

Net inflows/outflows after removing market performance and currency impact

Fund Flows: Overview…………………………………………………………………………………………...

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(includes Global & US )

Fund Flows: Top down views of countries, sectors, style / capitalization…………………………………………………………………………………………………………………………………………………………………………………………… .…………………………………………………………....

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Fund Flows: Drill down to detail view ……………………………………………………………………………..………………………………………………….………….……

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Actual country and regional weightings (in % of AUM)Actual country and regional weightings (in % of AUM)

Country Allocations: Overview ………………………………………………………………………………………………………………

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Industry Allocations (GICS Level II)Sector Allocations (GICS Level I)

Sector/Industry Allocations: Overview ………………………………………………………………………………………………………………………………………………………… ..

Actual sector and industry weightings (in % of AUM)Actual sector and industry weightings (in % of AUM)

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High Frequency Data: Country/Sector/Industry Flows……………………………………………………………………………………………………………………………………………………………………………………………………………………………… ..………….

Country Flows Sector / Industry Flows (GICS Level I & II)

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Equity Fund Flows

Daily Report Weekly Report Monthly Report

Equity Fund Category

# of Funds

$US billions

# of Funds

$US billions

# of Funds

$US billions

GEM 963 341.02 970 353.17 1132 447.48

Asia ex-Japan

1468 239.43 1490 240.00 1714 315.88

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

Universe Coverage: Equity Fund Flows……………………………………………………………………………………………………………………………………………………………

• 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

• 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

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Bond FundFlows

Daily Report

Weekly Report

Monthly Report

Bond Fund Category

# of Funds

$US billions

# of Funds

$US billions

# of Funds

$US billions

Emerging Market

943 110.77 967 125.31 1075 165.66

Global 2,097 478.82 2,123 497.36 2,513 683.52

High Yield 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

Balanced 624 311.37 645 330.53 819 746.44

TOTAL 9,033 4,691.24 9,478 5,063.21 11,252 7,098.9

Universe Coverage: Bond Fund Flows…………………………………………………………………………………………………………………………………………………………

• 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

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Global Sector Fund Flows

Daily Report

Weekly Report

Monthly Report

Sector Fund Categories

# 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

Universe Coverage: Global Sector Fund Flows…………………………………………………………………………………………………………………………………………………………………………………… ..……

• 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

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• 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-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

Regional Emerging Markets 13 8.82

TOTAL 78 116.95

Equity Fund Country Weighting Fund Category

# of Funds $US billions

Global Emerging Markets 108 199.98

Global (ex-US) 39 131.80

Global 62 83.31

Asia ex-Japan 113 81.19

Pacific 28 13.89

Latin America 36 32.50

Emerging Europe/Middle East/Africa 72 23.45

Western Europe 104 71.95

TOTAL 562 638.07

Universe Coverage: Equity/Bond Fund Country Weightings……………………………………………………………………………………………………………………………………………………………………………………………………………………………………… ..…

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• 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-to-date historical country, regional and sector weighting aggregates by fund category

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

Universe Coverage: Equity Fund Sector Weightings…………………………………………………………………………………………………………………………………………………………………………………………… .………………………….……………

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Monthly Equity Fund Reports Available History

Equity Fund Flows: Emerging Mkts & Global/Int'l.*

January 1995 - present

Equity Fund Flows: Dev. Europe & Japan January 2002 - 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

Equity Fund Sector Weightings**** November 2001 - present

Equity Fund Performance January 2004 - present

Equity Holdings July 2003 - 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

Weekly Equity/Bond Fund Reports Available History

Equity Fund Flows: Emerging Markets & Global/Intl.

October 2000 - present

Equity Fund Flows: Dev. Europe & Japan January 2002 - present

Equity Fund Flows: USA May 2003 - present

Global Sector Fund Flows January 2006 - present

Bond Fund Flows: EM, Int'l & High Yield* 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

Bond Fund Country Weightings*** November 2001 - present

Bond Fund Performance January 2004 - present

Bond Holdings 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

Data History……………………………………………………

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Forecasting Market movementsValues 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 marketsLeverage 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.

Usage Example: Fund Flows Data…………………………………………………………………………………………………………………………………………

Managers use EPFR Global fund flows data to boost return and increase alpha by :

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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.

Usage Example: Country & Sector Allocations Data…………………………………………………………………………………………………………………………………………………………………………………………………… .……….

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Sell Side"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 ReesHead of Investment Process ResearchSchroders, London

“Emerging market mutual funds' country allocations appear to contain information on future equity returns beyond that contained in standard valuation and momentum indicators.”AnalystGlobal Asset Allocation Research TeamSalomon 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 AhamPortfolio ManagerState Street Global Advisors

Sample Clients………………………………………………………………

Buy Side Government/Media

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EPFR Global acquires Emerging Market Funds Research, Inc., a database of global equity and fixed income funds.

2001:

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.

2001-2007:

EPFR Global launches Research and Analysis Services, providing independent research services for investment management firms.

2000:

EPFR Global launches Russia Portfolio, Central Europe Portfolio and Brazil Portfolio: publications serving more than 600 institutional investor clients worldwide.

1995-1999:

EPFR Global founded Cambridge, Massachusetts USA1994:

EPFR Global launches new Web Interface, new Country Flows data set, and Web Services for automated data delivery in trading and investment models.

2008:

Company History…………………………………………………………..……………

2009: EPFR Global launches initiative to provide weekly and monthly global fund flows data through Haver Analytics DLX platform.

EPFR Global is acquired by Informa plc and becomes a wholly-owned subsidiary of Informa USA.2010:

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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, Research 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]

Patrick Paradiso Sales (Latin America) Tel: (+1-917) 543-6181 Email: [email protected]

Jean-Claude Moos Sales Executive Tel: (+1-212) 907-5814 Email: [email protected]

Rikolv Hatlehol-Desai Sales Director (EMEA) Tel: (+44) 7766 805657 Email: [email protected]

Young-il Sunwoo Sales (Korea) Tel: (+821) 9608-0101 Email: [email protected]

Pui-Kam Ho Sales (Hong Kong) Tel: (+852) 3796 7116 Email: [email protected]

Robert Sheridan

Todd Willits

Business Development Manager, Asia

Manager, Client Services

Tel: (+65) 8484 1094

Tel: (+1-617) 864-4999 ext. 27

Email: [email protected]

Email: [email protected]

Key Contacts……………………………..…………………………