The EPFR Exchange Podcast

Join us for an exclusive conversation with industry leaders Jay McLaughlin from iMoneyNet, and guest expert Tim Schiltz from Schwab Asset Management. Dive deeper into what has by some measures been a banner year for US liquidity funds, especially if inflows are your key measure of success. The group of US Money Market Funds tracked by EPFR have seen inflows this year climb past $1 trillion total, a record by far. iMoneyNet leader Jay McLaughlin highlights how assets and yields have been performing quite well over the past 18 months, especially when looking at the all taxable average - the most commonly used benchmark for iMoneyNet - from a yield perspective. However, this only tells part of what is – more than ever – a complicated story. To a degree, Money Market Funds gain is pain for US regional banks as their deposit bases migrate. Those expanding asset bases are also keeping the industry in the forefront of regulatory minds, with another suite of reforms - the third in the last decade - currently on the drawing board. Conversation led/guided by EPFR research analyst Kirsten Longbottom. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

China clearly holds the crown among Emerging Market Equity markets when it comes to attracting fund flows this year. In the struggling Developed Market universe, meanwhile, Japan is breaking free of the pack. Japan Equity Funds have recorded inflows 11 of the past 12 weeks, and Japan Dividend and ESG Funds have done even better with flows to the former picking up significantly in mid-March and those to Japan ESG Funds lofting off at the start of February. Yet, the lag in response to increasingly rosy market conditions and the minimal changes that Global and Global ex-US Funds have made to their Japanese exposure, hints at a degree of skepticism. In this episode, Research Associate Kirsten Longbottom and Director of Research Cameron Brandt invite Pictet Asset Management's Senior Portfolio Manager Jon Withaar to discuss these themes and trends. We look back at 2015 when the corporate governance code was introduced, discuss the current, relatively cheap valuations of Japanese assets, explore what bad inflation looks like for Japan, examine the linkages between Japan and China in the long term, ask where the Bank of Japan will go from here and delve into the benefits of a weak Yen versus strong Dollar. More from EPFR on Japan: Quants Corner: An unusual visitor comes knocking on Japan’s door. Did it RSVP?Off the Wire: Japan government bonds: Is there a coming outflow?Paper: A rising tide lifts some (Japanese) boats: The Bank of Japan’s ETF purchases and their impact on market signals for individual stocks If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Investors have viewed Emerging Markets with a "glass half full" approach so far this year despite alarming headwinds for key actors. EM Equity Funds have brought in money this year while their Developed Markets counterparts have seen outflows. Kirsten Longbottom and Cameron Brandt from EPFR discussed key themes and shifts taking place in Emerging Markets with R Burns McKinney, managing director and senior portfolio manager/analyst at NFJ Investment Group. From the growth story and strong sector flows in China to the production of metals in Latin America to the expectation of India to break free of the pack, we cover it all. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

To kickoff our relaunch – twice monthly episodes where we feature an expert guest and focus in on specific themes or trends – integral members of our research team, Kirsten Longbottom and Cameron Brandt, invited Domestic Equities Portfolio Manager and the Head of ESG Strategy at Trillium Asset Management, Elizabeth Levy to join us on the EPFR Exchange and talk all things ESG. From a theme often referred to as “pixie dust” for fund flows to a changing dynamic in the last 18 months, from a lack of understanding among investors to a lack of clarity from the investment products themselves, from the environmental aspect to the social side, from energy to clean tech, this episode helps give perspective of the everchanging and overgrowing SRI & ESG equity universe. Listen in and email us at podcast@epfr.com with questions, or if you want a peak in to the Fund Flows & Allocations data we track. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

The money market industry has consistently struggled to pry money out of the banking sector with not offering a FDIC insurance guarantee... until recently. What are taxable US government money market fund doing with the rivers of cash flowing in? Does this apply to just US-dedicated funds or other regions? Cam talks to repurchase agreement (repos) and short term US treasuries, while Kirsten covers Financials Sector Funds. We also discuss what insight EPFR offers versus our iMoneyNet product. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Investors are reacting to concerns of an economic slowdown by rushing into liquidity... EPFR-tracked Money Market Funds posted a 155-week high with US-dedicated funds pulling in $100 million in each of the past two weeks. To support this, data from EPFR’s iMoneyNet offering shows that the AUM of taxable US MM Funds has moved past the $5 trillion milestone. Recession fears are picking up despite general consensus that the Fed has "got your back". How is it different to 2008? Excitement of AI has been a nice tailwind for Technology Sector Funds, what else are flows tied to? What have SRI/ESG Equity and Bond Funds seen recently? If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Highlights: short term US treasuries yielded over 5% last week, interest picked up for China, Hong Kong and Taiwan Equity Funds, and investors are trying to recalibrate the balance between risk and reward. Listen in to find out more... If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Here’s what Cam and Kirsten reflected on: If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

In this special episode, EPFR Quantitative Researcher Azalea Micottis joins Director of Research Cameron Brandt to discuss her latest insight on Japan and retail flows. They reflect on a recently published Off the Wire piece looking at the flows coming out of Bond Funds dedicated to long-term Japanese government bonds. To hear about several of EPFR's quantitative strategies and the signals those strategies are generating, listen to the full episode! If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

We start off this episode with an overview of 2022 fund flow trends. These included fixed income investors gravitated towards ETFs and passive funds during a volatile year, investors being quick to pencil in a post zero-Covid policy rebound in China and a growing willingness to “fight the Fed” and invest as if US interest rates will peak sooner rather than later. Digging into the latest week, marked by central bank decisions on both sides of the Atlantic and key economic data releases, investor sentiment changed on a daily basis as they adjusted their predictions. What is the next twist to come with the Russia-Ukraine conflict approaching a year? What is to come from China’s economic rebound? With the rest of the world tightening, is the Bank of Japan going to hold the line on its existing policy set? If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

This week, Cam and Kirsten talk about... If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

In this special edition, Kirsten is joined by EPFR’s CEO Todd Willits, who will comment on the company’s recent rebrand and what this exciting change entails for the firm and its customers in the months to come. For over 20 years, EPFR has built a reputation for providing data expertise to customers and media from across the globe, and we will discuss with Todd why EPFR is ‘the intelligence behind intelligent decisions’. Besides, as a newly independent company, we will analyze our future plans and our ambition to build an ever-closer engagement with our customers. There will also be a chance for Todd to touch base on the major themes and topics being explored through EPFR’s specialized data, with emerging markets and the future of energy capturing increasing interest in early 2023. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Cam and Kirsten talk about how investors steered large sums into Bond Funds dedicated to the US and Europe while exiting Inflation-Protected Bond Funds, and showed optimism about China’s post-Covid despite the recent rise in case numbers. Listen in for more on Emerging Markets, Europe Equity and Bonds, and China Sector Funds. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

A mixed batch of macroeconomic data and guidance from earnings reports gave Bond Funds a boost despite it hard to find investors’ optimistic at large. Falling inflation, feeling of tightening doing its job to check economic activity and the selloff of bonds last year has helped this asset class in the start of 2023. The band that the Bank of Japan is using to try and control 10-year Japanese Government Bond issues has markets tense and investors feeling it doesn’t reflect global reality. Meanwhile, Cam talks about a somewhat improved outlook for Europe Equity compared to that in 4Q22, touching on natural gas usage, Russia’s supply and an unusually warm winter. And Kirsten carries that over into an overview of Sector Funds, which saw Consumer Goods and Industrials benefit while Technology Sector Funds suffer. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!

Cam and Kirsten reviewed some top highlights from 2022 and looked for any signs pointing in the right direction from the data in the week ending Jan 4. As China casts a big shadow, should we start viewing Emerging Markets as sort of EM vs EM ex-China? What about Frontier Markets vs Frontier Markets ex-Vietnam? Supply chain reallocation stories are popping up for Vietnam, Thailand, India, and Philippines in the Asia region, with Mexico part of the conversation. As we continue in inflation-fighting mode, the ECB might actually surprise in terms of having a closer than anticipated pivot point, while a lot of commentary points to concern that the Fed pivot point is beyond the current market consensus. And in the upcoming weeks, EPFR will be paying closer attention to where Japanese monetary policy goes. If you have a question about this episode, want to request a demo of our data, or talk to an EPFR expert today... Contact us now!