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About Cameron

USA

+18 year(s) experience

Cameron Brandt, Director of Research, EPFR, headshot
Cameron monitors EPFR’s vast database on a daily and weekly basis. The database is drawn from 100,0000 mutual funds with $34 trillion in assets under management. He looks for shifts and trends, these are then relayed to clients and the sales team, and summarized on a weekly basis.

Cameron, who holds a degree in economics from Yale University, joined EPFR Global in 2001 and was appointed Director of Research in 2010.

He co-authored an IFR-published study of fund flows and produces regular reports on trends that emerge from EPFR Global’s data. In 2016, he presented at conferences in Berlin and Shanghai, appeared on Bloomberg TV and co-authored a series of reports on the Brexit vote and its implications, in conjunction with IGM.

Before joining EPFR Global he was managing editor of The WorldPaper, an international affairs supplement carried by papers in Latin America, Emerging Asia and the EMEA regions with a combined monthly circulation of over 1 million readers.

Analyst Articles

Articles by Cameron

  • EPFR Fund Flows

    Flickers of hope for trade and Brexit deals boost risk appetite

    By Cameron Brandt 18 Oct 2019

    Global Navigator

    Flickers of hope for trade and Brexit deals boost risk appetite The second week of October saw flows to EPFR-tracked High Yield and Emerging Markets Bond rebound, US and UK Equity Funds snap three-week outflow streaks and UK Bond Funds post their biggest inflow since June as Sino-US trade and UK-EU exit deal talks took turns for the better. Investors are also pricing in another rate cut from the US Federal reserve when it meets on the final days of the month.

    Topic Industry News

  • EPFR Fund Flows

    Data Simply Scores: Enhance your SRI and ESG lenses

    By Cameron Brandt 15 Oct 2019

    ESG

    The pursuit of pure Alpha and recognition of less tangible but equally – or more -- worthy goals, is as old as recorded financial history. In its current incarnation, a financial industry tempered by the “greed is good” era is scrambling to accommodate new generations of investors who place a high premium on environmental and social goals. These investors are backing up their interest in environmental, social and governance (ESG) issues with growing amounts of money. The equity funds tracked by Informa Financial Intelligence, EPFR have posted collective net outflows of over $225 billion so far this year, with the ESG subset or socially responsible investment (SRI) mandates attracting over $35 billion in 2019.

    Topic Industry News

  • EPFR Fund Flows

    Trade issues, earnings and political risk reclaim center stage from central bankers in early October

    By Cameron Brandt 11 Oct 2019

    Global Navigator

    Trade issues, earnings and political risk reclaim center stage from central bankers in early October After a quarter when both the US Federal Reserve and European Central Bank reversed course on the normalization of their monetary policies, the focus during the first week October shifted from central bankers to the Sino-Chinese trade war, the latest corporate earnings season and impending elections in Spain, Canada and Argentina.

    Topic Industry News

  • EPFR Fund Flows

    Money Market Funds close books on record setting quarter

    By Cameron Brandt 04 Oct 2019

    Global Navigator

    Money Market Funds close books on record setting quarter The third quarter ended as it began, with EPFR-tracked Equity Funds experiencing net redemptions and Bond Funds net inflows that took their year-to-date totals to -$230 billion and +$481 billion respectively, as investors continue to brace for a cyclical downturn that they have been anticipating for the better part of four years. In recent months their outlook has been shared by the world’s major central banks. Since the beginning of July the US Federal Reserve cut interest rates twice to sustain the current recovery and the European Central Bank, faced with a sharp slowdown in the German economy, restarted the quantitative easing program it wrapped up at the end of last year. Not surprisingly, mutual fund investors are revisiting their assumptions about yield, global economic growth and inflation. High Yield and Inflation Protected Bond Funds, which both posted collective outflows during 2Q19, saw flows rebound during the third quarter and dedicated Gold Funds recorded their biggest quarterly inflow since 2Q16. Liquidity has also assumed even greater importance: the provisional number for Money Markets Funds during 3Q19 eclipses the previous inflow record set in 4Q08 at the height of the sub-prime debt crisis.

    Topic Industry News

  • EPFR Fund Flows

    German data and US politics chill appetite for equity exposure

    By Cameron Brandt 27 Sep 2019

    Global Navigator

    German data and US politics chill appetite for equity exposure With the specter of impeachment proceedings again stalking US President Donald Trump’s presidency, continuing stress in the short-term dollar lending market and German’s economic woes fueling speculation that the Eurozone could slip in to recession, risk appetite was replaced with risk aversion in late September. Equity Funds bore the brunt. Redemptions from US and Asia ex-Japan Equity Funds hit levels last seen in 4Q18 and 4Q16 respectively, money flowed out of Japan Equity Funds for the fourth week in a row and Europe Equity Funds posted their 36th outflow in the 38-weeks year-to-date. Balanced Funds, which can invest in both equity and fixed income assets, recorded their biggest outflow since mid-May a week after snapping a redemption streak stretching back to 2Q18. Fixed income investors also took a turn for the cautious, with Local Currency Emerging Markets Bond Funds posting outflows, fresh commitments to High Yield Bond Funds falling to a 19th of the previous week’s total and redemptions from Bank Loan Funds climbing to a five-week high. Bond Funds with investment grade mandates, meanwhile, attracted over $8 billion. Overall, the week ending September 25 saw EPFR-tracked Equity Funds post a collective net outflow of $22 billion. Investors also pulled $2 billion out of Balanced Funds while steering $975 million into Alternative Funds, $9.2 billion into Bond Funds and $35 billion into Money Market Funds.

    Topic Industry News

  • EPFR Fund Flows

    US Equity and High Yield Bond Funds in the money as Fed cuts rates for the second time in a row

    By Cameron Brandt 20 Sep 2019

    Global Navigator

    US Equity and High Yield Bond Funds in the money as Fed cuts rates for the second time in a row The second consecutive 0.25% rate cut that followed the Federal Reserve’s mid-September policy meeting triggered a fresh volley of disapproving tweets from US President Donald Trump. But flows into US Equity Funds jumped to a 26-week high and all EPFR-tracked Equity Funds recorded their biggest collective inflow since late 1Q18 as investors began to feel fresh pangs of yield hunger. In addition, High Yield Bond Funds attracted over $3 billion for the second straight week, Alternative Funds pulled in another $1.7 billion, Emerging Markets Equity Funds saw a 21-week redemption streak come to an end and Emerging Markets Bond Funds posted their fourth straight inflow.

    Topic Industry News

  • EPFR Fund Flows

    Outflows the rule for Europe Funds ahead of ECB’s decision to restart quantitative easing

    By Cameron Brandt 13 Sep 2019

    Global Navigator

    Outflows the rule for Europe Funds ahead of ECB’s decision to restart quantitative easing With speculation about the measures the European Central Bank (ECB) would take at its September policy meeting ranging widely, EPFR-tracked Europe Equity, Bond and Money Market Funds all experienced net redemptions during the week ending Sept. 11. For Europe Equity Funds it was 11th consecutive outflow and 35th in the 37 weeks year-to-date while Europe Bond Funds saw their longest inflow streak on record come to an end.

    Topic Industry News

  • EPFR Fund Flows

    EPFR-tracked Bond Funds remain on track for new inflow record

    By Cameron Brandt 06 Sep 2019

    Global Navigator

    EPFR-tracked Bond Funds remain on track for new inflow record The week ending September 4 saw year-to-date flows into all EPFR-tracked Bond Funds climb past the $450 billion level as they continue to make a run at the full year inflow record that they set in 2017. These robust inflows have occurred despite Equity Funds collectively outperforming Bond Funds by a 2-to-1 margin so far this year, with safety-conscious investors putting more stock in further central bank easing that they do in an early end to global trade tensions.

    Topic Industry News

  • EPFR Fund Flows

    Despite surreal political backdrop, fixed income fund flows in late August reflect a rise in risk appetite

    By Cameron Brandt 30 Aug 2019

    Global Navigator

    Despite surreal political backdrop, fixed income fund flows in late August reflect a rise in risk appetite With the Amazon rainforest ablaze, the president of the US floating the idea of purchasing Greenland and the British prime minister trying to suspend parliament ahead of the latest Brexit deadline, an already confusing investment climate took on an Alice in Wonderland quality in late August. Investors, however, tuned out much of the noise and – in a small way – went hunting for yield with EPFR-racked Emerging Markets Bond Funds snapping a three-week run of outflows and flows into High Yield Bond Funds hitting a five-week high.

    Topic Industry News

  • EPFR Fund Flows

    Negative yields tighten grip on fixed income universe in mid-3Q19 with mixed results for mutual fund flows

    By Cameron Brandt 23 Aug 2019

    Global Navigator

    Negative yields tighten grip on fixed income universe in mid-3Q19 with mixed results for mutual fund flows The second week of August saw the yield curves for two and 10-year US treasuries invert for the first time since 2007. The third week of August saw a major Danish bank offer qualified buyers a mortgage that will cost the borrower less than the face value to pay in full. With the unusual become normal in global debt markets, investors found their compasses spinning wildly going into the second half of 3Q19. As a result, they stuck to their ‘safety first’ strategy that has seen over $425 billion flow into EPFR-tracked Bond Funds so far this year while over $215 billion has flowed out of Equity Funds.

    Topic Industry News

  • EPFR Fund Flows

    US yield curve inversion the latest wrinkle for mutual fund investors

    By Cameron Brandt 19 Aug 2019

    Global Navigator

    US yield curve inversion the latest wrinkle for mutual fund investors The second week of August saw yields on two-year US Treasuries exceed those of 10-year notes for the first time since 2007, a development viewed by large segments of the investing public and the financial industry as a clear-cut warning that the world’s largest economy will likely slip into recession during the next 18 months.

    Topic Industry News

  • EPFR Fund Flows

    Money Market Funds pull in over $100 billion in early August

    By Cameron Brandt 09 Aug 2019

    Global Navigator

    Money Market Funds pull in over $100 billion in early August Mutual fund investors opted for liquidity during the first week of August as they digested an unpleasant cocktail of weak German data, fears of a currency war between the US and China, hardening positions on Brexit and disappointment with the Fed’s 25 basis points cut in US interest rates at the end of July. Flows into Money Market Funds jumped to a 32-week high, exceeding the $100 billion mark for only the second time since EPFR started tracking them, while a net $24.9 billion flowed out of Equity Funds – their biggest weekly total year-to-date – and another $2.7 billion out of Balanced and Alternative Funds combined.

    Topic Industry News

  • EPFR Fund Flows

    Quants Corner

    By Cameron Brandt 08 Aug 2019

    Quants Corner 0807

    The best strategy for navigating Hong Kong’s pro-democracy protests Hong Kong is experiencing the biggest political disturbances in over two decades. Initially peaceful protests in March against a proposed extradition law have escalated, with hundreds of thousands of demonstrators periodically marching through the Chinese special administrative region.  

    Topic Industry News

  • EPFR Fund Flows

    Initial responses to first US interest rate cut in a decade are underwhelming

    By Cameron Brandt 02 Aug 2019

    Global Navigator

    Initial responses to first US interest rate cut in a decade are underwhelming Fund flows ended July with a whimper. Redemptions from EPFR-tracked Equity and Bond Funds hit their highest daily totals since June 28 and the final day of 2018 respectively as investors tried to make sense of the US Federal Reserve Open Markets Committee’s decision to cut interest rates by 25 basis points. Bulls were disappointed by Fed Chair Jerome Powell’s assertion that the cut was simply a “mid-cycle adjustment”, and not the start of an extended period of monetary easing, while bears viewed the cut as a political decision that increases the risk of market imbalances.

    Topic Industry News

  • EPFR Fund Flows

    Has latest Equity to Bond rotation run its course?

    By Cameron Brandt 19 Jul 2019

    Global Navigator

    Has latest Equity to Bond rotation run its course? The week ending July 17 saw EPFR-tracked Equity Funds post their fourth inflow in the past six weeks, suggesting that investors are finally responding to expectations of lower fixed income yields and the recent records set by benchmark US equity indexes. Between the beginning of December and first week of June, those Equity Funds only recorded five weekly inflows while investors steered over $160 billion into Bond Funds during the same period.

    Topic Industry News