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

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.

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

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  1. 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

  2. EPFR Global Data Services………………………………………………………………………………................................................. Core EPFR datasets(based on data sourced directly from managers or administrators) Derived datasets Fund Flows Fund Allocations Country/Sector/Industry Flows The amount of cash flowing into and out of funds world-wide. 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 • Equity/Bond Fund Flows – Daily/Weekly/Monthly *also includes AUM, Performance • Regional packages available – Daily/Weekly/Monthly

  3. Users of EPFR Global Data………………………………………………………………………...…………………………………........ Banking and Brokerage Government/Central Banks • Strategists • Capital Markets • Research Analysts Types of usage: • Proprietary trading • Directional calls for clients • Targeting sales efforts • Market analysis • Regulators • Monetary Authorities 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 Types of usage: • Factor in investment process • Competitive analysis, product dev • Asset allocation • Quantitative analysis • Global Macro/EM/Discretionary • Quantitative Investors Types of usage: • Momentum trading • Liquidity analysis • Market timing

  4. Fund Flows: Overview …………………………………………………………………………………………... Net inflows/outflows after removing market performance and currency impact Weekly flows as a % of AUM (A)

  5. Fund Flows:Top down views of countries, sectors, style / capitalization …………………………………………………………………………………………………………………………………………………………………………………………….………………………………………………………….... (includes Global & US )

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

  7. Country Allocations: Overview ……………………………………………………………………………………………………………… Actual country and regional weightings (in % of AUM)

  8. Sector/Industry Allocations: Overview ………………………………………………………………………………………………………………………………………………………….. Actual sector and industry weightings (in % of AUM) Sector Allocations (GICS Level I) Industry Allocations (GICS Level II)

  9. High Frequency Data: Country/Sector/Industry Flows ………………………………………………………………………………………………………………………………………………………………………………………………………………………………..…………. Sector / Industry Flows (GICS Level I & II) Country Flows

  10. 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

  11. 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

  12. 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

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

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

  15. Data History ……………………………………………………

  16. 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.

  17. 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.

  18. 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

  19. 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. 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 new Web Interface, new Country Flows data set, and Web Services for automated data delivery in trading and investment models. 2008: EPFR Global launches initiative to provide weekly and monthly global fund flows data through Haver Analytics DLX platform. 2009: EPFR Global is acquired by Informa plc and becomes a wholly-owned subsidiary of Informa USA. 2010:

  20. Key Contacts ……………………………..…………………………

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