Financial Intelligence is part of the Informa Intelligence Division of Informa PLC
This is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Director of Research
USA
+19 year(s) experience
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.
EPFR Fund Flows
By Cameron Brandt 14 Feb 2020
Investors showed signs they are learning to live with the Wuhan coronavirus during the second week of February, steering fresh money to most of the fund groups tracked by EPFR. They committed a combined $36 billion to all Equity and Bond Funds -- with Bond Funds setting their second weekly inflow record since the start of the year -- and showed increased appetite for riskier asset classes such as junk bonds, emerging markets equity and debt and alternative assets. Diversified fund groups remained popular with investors going into the second half of February. Global Equity Funds recorded their biggest inflow since 1Q18, Global Bond Funds took in fresh money for the 49th time in the past 52 weeks and Global Emerging Markets Equity (GEM) Equity Funds extended their longest inflow streak since a 19-week run ended in mid-2Q18. Overall, the week ending Feb. 12 saw Bond Funds take in a net $23.6 billion, Equity Funds $12.5 billion, Money Market Funds $9.3 billion, Balanced Funds $638 million and Alternative Funds $277 million. Equity Funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates attracted nearly a third of the headline number for all Equity Funds, and those with a focus in dividend paying stocks posted inflows for the fourth time in the past five weeks and 18th in the past 22.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 07 Feb 2020
A week that started with a coronavirus-induced whimper ended on Feb. 5 with US President Donald Trump’s impeachment trial ending in acquittal, the release of data showing US private payroll growth in January hit its highest level since mid-2Q15, the UK officially outside the European Union and Chinese authorities talking about viral cures and rolling back some tariffs on American goods. As a result, benchmark US equity indexes hit fresh record highs and flows into EPFR-tracked Developed Markets Equity Funds climbed to a 13-week high. The headline number for Developed Markets – and all – Equity Funds would have been even higher were it not for over $2 billion in UK Equity Fund redemptions that reflect the liquidation dividend payouts by Blackrock to investors in the LF Equity Income Fund, the Neil Woodford-managed fund that crashed last year due to asset liquidity mismatches. While equity markets have been getting the headlines, Bond Funds continued to pull in above average amounts of fresh money with net inflows since the start of the year moving past the $85 billion mark. “Looking at flows by fund group, the balance between the desire to preserve capital and yield hunger remain tilted towards the former,” noted EPFR research Director Cameron Brandt. “But we are seeing that balance shift towards yield as the latest round of central bank easing begins to bite.”
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 31 Jan 2020
A coronavirus epidemic centered in China put global equity markets on the defensive in late January and prompted Chinese officials to suspend trading on the Shanghai and Shenzhen stock exchanges. But the impact on flows to EPFR-tracked Equity Funds was mixed. Emerging Markets Equity Funds recorded their first weekly outflow since mid-October and redemptions from Asia ex-Japan Equity Funds hit a 16-week high. Overall, however, Equity Funds posted their fourth inflow in the past five weeks as China, Canada and Japan Equity Funds attracted fresh money and the diversified Global Equity Funds chalked up their third largest inflow on record. The week ending Jan. 29 also saw Europe Equity Funds chalk up their third largest outflow since mid-October. In addition to the broad concerns about the impact of the Wuhan coronavirus, political uncertainty in key markets prompted investors to pull back.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 24 Jan 2020
The Bond Fund bandwagon rolled on during the third week of the New Year, extending a run that has seen them post 55 straight weeks of inflows that total $775 billion. Although flows have moderated since the first week of the year, when this fund group absorbed a record-setting $23 billion, were they to maintain their current weekly average for the rest of the year total inflows would exceed $900 billion. EPFR-tracked Equity Funds, meanwhile, posted consecutive weekly inflows for only the sixth time since the beginning of 3Q19. In geographic terms, the bulk of the fresh money went to the two biggest diversified groups, Global and Global Emerging Markets (GEM) Equity Funds. Investors showed more conviction when it came to sectors, with four of the 11 major groups attracting over $1 billion, and they remain enamored of funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates which chalked up their third weekly inflow record since the beginning of October. Overall, investors steered a net $8.4 billion into Equity Funds during the week ending January 22 with half of that going to SRI/ESG Equity Funds while flows to Dividend Equity Funds hit a YTD high. Balanced, Money Market and Bond Funds absorbed $443 million, $11.2 billion and $16.2 billion respectively.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 17 Jan 2020
The second week of 2020 saw US President Donald Trump and Chinese Vice Premier Liu He sign the first of what is expected to be a series of trade deals between the world’s two largest economies. It also saw seven of the eight major regional Equity Fund groups tracked by EPFR record inflows that ranged from $228 million for Latin America Equity Funds to $6.3 billion for Global Equity Funds. The renewed appetite for exposure to equities was not fueled by a rotation out of fixed income funds. Although down from last week’s record-setting total, Bond Funds still attracted over $16 billion. Since the beginning of last year, they have compiled a 54-week, $721 billion inflow streak with $495 billion of that total going to US Bond Funds. Overall, EPFR-tracked Equity Funds took in a net $12.5 billion during the week ending Jan. 15, Bond Funds $16.5 billion, Alternative Funds $724 million and Balanced Funds $33 million while $23.8 billion flowed out of Money Market Funds. Investors continue to pour money into funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates, with the latest week’s total the third highest on record. Personal conviction, the benefits of an additional layer of due diligence and solid performance are all factors in the strong run SRI/ESG funds are enjoying.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 10 Jan 2020
A single swallow does not make a summer, nor does a single week establish a flow trend. But, after a year when Bond and Money Market Funds both set new annual inflow records while Developed Markets Equity Funds experienced record setting redemptions despite their strong overall performance, 2020 started with Bond Funds setting a new weekly inflow record and Money Market Funds absorbing over $45 billion. Developed Markets Equity Funds, meanwhile, posted their second outflow in the past three weeks. Within the fixed income universe tracked by EPFR, US Bond Funds posted their biggest inflow since 1Q15 and Canada Bond Funds on record. At the asset class level, Municipal Bond Funds also set a new inflow mark while Bank Loan Funds snapped a redemption streak stretching back to mid-4Q18. Investors showed more conviction at the sector level, with 10 of the 11 major groups attracting fresh money. The last time that happened was the second week of October and, before that, 1Q16. Overall, the week ending January 8 saw Bond Funds take in a net $22.5 billion and Money Market Funds $47.2 billion while investors redeemed $93 million from Alternative Funds and $206 million from Balanced Funds. Despite the 11th consecutive weekly inflow for Emerging Markets Equity Funds and the 53rd in a row for funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates, Equity Funds collectively recorded a modest outflow.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 03 Jan 2020
December 2019 ended with the benchmark US equity indexes up between 22% and 35%, the Euro Stoxx 50 sitting on a 26% gain for the year and the MSCI All World Index just off a record high. But anyone looking solely at mutual fund flows would be forgiven for wondering if 2019 had seen a repeat of the economic conditions that defined 2008 and 2009 as investors shunned Equity Funds for Bond Funds, which posted their second full-year inflow record in the past three years, and Money Market Funds which eclipsed the old inflow mark set in 2009. Collectively, the Equity Funds tracked by EPFR gained over 23% during the year versus 7% for all Bond Funds and 0.7% for all Money Market Funds. But, with growing numbers of people entering retirement in North America, Europe and Japan, retail investors saw stock market gains as a chance to cash out positions and rotate their gains to safer vehicles. Demographic trends cut both ways in 2019, with the growing impact of millennial investors – and their preferences – driving record-setting sums into funds with socially responsible (SRI) or environmental, social and governance (ESG) mandate.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 27 Dec 2019
EPFR-tracked UK Equity Funds extended their current inflow streak to 11 weeks and $6.5 billion during the week ending on Christmas day as investors responded to the ruling Conservative Party’s pledge to swiftly wrap up the country’s exit from the European Union before the current, third extension expires at the end of January. Hopes an initial trade deal between China and the US will be signed in the next three weeks, meanwhile, kept the money rolling into Emerging Markets Equity and Bond Funds which took in a net $4.2 billion between them. That took their combined total over the past two weeks to $12.1 billion. Although hopes for peace on the Sino-US trade front helped to lift US equity indexes to fresh record highs, US Equity Funds posted their biggest outflow in over a year despite only the second retail inflow since late 2Q17. Overall, the week ending Dec. 25 saw EPFR-tracked Equity Funds experience net redemptions of $14.4 billion, with Dividend Equity Funds posting their biggest outflow since mid-March. Investors also pulled $167 million out of Alternative Funds and $17 billion out of Money Market Funds while steering $740 million into Balanced Funds and another $10.8 billion into Bond Funds. Once again, Equity Funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates swam against the tide, adding another $2 billion to their year-to-date total.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 20 Dec 2019
There was plenty for investors to ponder during the third week of December as the US House of Representatives approved articles of impeachment for President Donald Trump, UK voters gave the ruling Conservative Party a clear majority and the outlines of an initial Sino-US trade deal were announced. The announcement of the first step in a phased deal between China and US boosted flows to EPFR-tracked Emerging Markets Equity and Bond Funds. In the case of EM Equity Funds, overall inflows were the biggest since mid-1Q18 as flows into dedicated China Equity Funds hit their highest level in over seven months. Emerging Markets Bond Funds, meanwhile, recorded their biggest inflow since early February. With the Boris Johnson-led Conservatives now in a position to honor their electoral pledge “to get Brexit done”, flows into UK Equity Funds during the week ending Dec. 18 exceeded the $1 billion mark for only the fourth time since the beginning of 2Q18. Investors also pulled over $1 billion out of Europe ex-UK Regional Funds while committing fresh money to regional funds whose mandates encompass the UK. Overall, investors steered $14.8 billion into all EPFR-tracked Equity Funds as those with socially responsible (SRI) or environmental, social and governance (ESG) mandates posted their fourth record high since the beginning of September. Alternative Funds collectively took in $622 million and Bond Funds $6.2 billion. A net $1.19 billion flowed out of Balanced Funds and $48.1 billion from Money Market Funds.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 13 Dec 2019
Mutual fund investors steered another $36 billion into EPFR-tracked Money Market Funds, flows to which are already in record setting territory, during the week ending Dec. 11 as the Democrat-controlled House of Representatives unveiled articles of impeachment against US President Donald Trump and British voters prepared to vote in a general election that markets hope will resolve – one way or other – the painful process of divorcing the European Union. Ahead of election day, UK Equity Funds absorbed another $370 million that lifted their net total over the past nine weeks past the $4 billion mark. “Based on recent flows, investors are already treating the UK as if it has left the EU and the multiple challenges that continental Europe is currently facing,” observed EPFR Research Director Cameron Brandt, who noted that combined redemptions from Germany, France and Spain Equity Funds since mid-October total $3.85 billion.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 06 Dec 2019
A week after they posted their third inflow record since the beginning of September, Equity Funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates took in another $2 billion coming into December as they extended an inflow streak stretching back to the first week of the year. Assets managed by these funds now total over $500 billion, a more than six-fold increase since 4Q15.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 22 Nov 2019
The third week of November saw Europe Equity Funds longest inflow streak since 1Q18 come to an end and redemptions from Europe Bond Funds jump to a 49-week high as investors responded to policy divisions within the continent, slowing economic growth and the continuing headwinds generated by the more protectionist US stance on trade. Spain’s recent election, which saw populist parties make gains and left the region’s fifth largest economy in the hands of a caretaker government, gave investors further reasons for caution. Investors also took a modest step back from some fund groups dedicated to riskier asset classes, with Emerging Markets Bond Funds recording outflows for the first time in six weeks and High Yield Bond Funds posting consecutive weekly outflows for the first time since early June. Overall, EPFR-tracked Bond Funds posted a collective inflow of $6.9 billion during the week ending November while $1.5 billion flowed out of Equity Funds despite the third highest inflow on record for Equity Funds with socially responsible (SRI) or environmental, social and governance (ESG) mandates and positive flows to Dividend Equity Funds for the ninth time in the past 10 weeks. The latest week was also marked by a new milestone for the Exchange Traded Funds (ETFs) tracked by EPFR, with the collective AUM of those tracked both daily and monthly hitting the $6 trillion mark.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 11 Nov 2019
Does today’s monetary policy leave investors in purgatory or hell? A view from industry experts Last month Informa, EPFR and Fintech company ClearMacro held an evening event: The 2020 Road to Returns, where industry experts were presented with the question, “Does the current monetary policy environment leave investors and financial professionals in purgatory or hell,” the panelists were split down the middle.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 11 Nov 2019
With US rate cut in the bag, focus shifts back to trade Mutual fund investors got a rate cut for Halloween. Will they get a Sino-US trade deal for Thanksgiving? Hopes of an end to the bruising trade war rose during the first week of November, propelling US benchmark indexes to new record highs and the Euro Stoxx 50 to levels last seen in 1Q18. Fund flows during the first week of November reflected this optimism, with US Equity Funds chalking up their third inflow in the past four weeks and Asia ex-Japan Equity Funds posting consecutive weekly inflows for the first time since early July while Emerging Markets Bond and Equity Funds both attracted fresh money. Funds with diversified global mandates were the biggest beneficiaries of this shift in sentiment: Global Bond Funds recorded their third largest inflow year-to-date and Global Equity Funds their biggest since the fourth week of 2018.
Topic Industry News
EPFR Fund Flows
By Cameron Brandt 01 Nov 2019
US Equity Funds record first retail inflow since late 2Q17 The final week of October saw the Federal Reserve cut short term US interest rates by another 25 basis points, the benchmark S&P 500 index set a fresh record high and EPFR-tracked US Equity Funds post their first retail inflow in nearly 28 months. With the latest US rate cut in hand and trade and Brexit deals still visible in the bushes, investors also stepped up their commitments to Emerging Markets Equity Funds and allowed Europe Equity Funds to record their first consecutive weekly inflows since 1Q18. Increasing optimism and higher risk appetite translated into the first back-to-back outflows since mid-May for Gold Funds, which had a 15-week inflow streak snapped during the previous week, and Silver Funds experienced net redemptions for the third week in a row. Overall, EPFR-tracked Equity Funds took in $6 billion during the week ending Oct.30 while investors steered $770 million into Alternative Funds, $7.8 billion into Bond Funds and $24.2 billion into Money Market Funds. It was another good week for Dividend Equity Funds, which chalked up their biggest weekly inflow since March, and the assets managed by all EPFR-tracked ETFs moved over the $5.8 trillion mark.
Topic Industry News
