EPFR | Fund Flows & Allocations Data @EPFR

For more, read our Global Navigator: isimarkets.com/publications/g…

EPFR’s Random Walk of flows into all 𝗕𝗼𝗻𝗱 𝗙𝘂𝗻𝗱𝘀 versus all 𝗘𝗾𝘂𝗶𝘁𝘆 𝗙𝘂𝗻𝗱𝘀 this year has, so far, followed a similar path to the last two years. Investors have continued to commit fresh money to equities and fixed income assets at a steady pace, peaking around 2.8% and 7% of their beginning-of-year AUMs, respectively with 17 more weeks in the year to go.

"Every time foreign interest starts to thaw and move back toward India, something macroeconomic tends to happen."   In a wide-ranging discussion with CNBC-TV18, EPFR's Cameron Brandt explores the forces shaping global capital flows, from oil prices and inflation to emerging market equity allocations .   Watch the full interview: eu1.hubs.ly/H0ydp9_0   #EPFR #CapitalFlows #EmergingMarkets #MarketIntelligence #InvestmentResearch

Learn more: isimarkets.com/epfr/

Summer 2026 has proved that DCM remains one of the clearest windows into the global economy. Despite political turmoil, inflation concerns and higher rates, corporate bond markets have absorbed record levels of issuance with remarkable ease.  The standout theme has been AI, which has become a debt market story of its own.  Big tech issuers including Amazon, Alphabet, Meta, Microsoft and Oracle have raised unprecedented amounts of capital to fund data centres, power infrastructure and the next phase of AI investment. This skew will start to have an impact on Bond Indices, where large issuance leads to higher Index weightings.    EPFR tracked Developed Market Corporate Bond Funds have seen total inflows in the year to end July 2026 of +$174bn, meaning Portfolio Managers have had a lot of excess cash to put to work, with US Corporate Bonds Funds accounting for over 50% of this total. On a relative basis Global, US and Western European Bond Funds have seen inflows equivalent to around +6% to +7% of the assets tracked, whereas Asia Pacific has seen the strongest inflows equal to around +28% of the assets tracked by EPFR in this universe. Click in the comments section to learn more.

keyboard_arrow_left Previous keyboard_arrow_right Next

For more, read our Global Navigator: isimarkets.com/publications/g…

With expectations of a US September rate hike finely balanced, flows into 𝗠𝘂𝗻𝗶𝗰𝗶𝗽𝗮𝗹 𝗕𝗼𝗻𝗱 𝗙𝘂𝗻𝗱𝘀 dwindled and 𝗕𝗮𝗻𝗸 𝗟𝗼𝗮𝗻 𝗙𝘂𝗻𝗱𝘀 went against the grain by posting their first outflow in 12 weeks. Behind the latter headline number was Cliffwater’s bellwether private credit fund, while the group’s subset of 𝗖𝗟𝗢 𝗙𝘂𝗻𝗱𝘀 that represents roughly 26% of the Bank Loan universe have continued to post inflows. Year-to-date the group has pulled in over $19.5 billion, well ahead of last year’s record-setting inflows.

To find out more on EPFR and fund flows: isimarkets.com/epfr/

MarketWatch used EPFR fund-flow data to highlight a surprising trend: investors keep pouring money into equities despite more attractive bond yields. Equity funds took in $92.9B in August, led by $60.9B into US equities. Read more: eu1.hubs.ly/H0y9tw10

Learn more: isimarkets.com/epfr/

Summer 2026 has indicated the IPO market looks like it is back, but investors are demanding quality. While AI continues to dominate the headlines, 2026 has seen the steady reopening of the equity issuance window, with high profile listings, increased follow-on activity and strong demand for established growth businesses suggesting Institutional investors are willing to put capital to work, but only at the right valuation. EPFR data shows Large Cap US Equity Funds have seen net inflows YTD to 2nd September of +$378bn, whilst US Small Cap Equity Funds have seen outflows of -$14.7bn. When normalizing these numbers, we see the inflow into Large Cap is equal to around +3.1% of the assets tracked there, with the outflows from Small Cap equal to -1.6% of the assets tracked. Both European Large Cap and Small Cap Equity Funds have seen outflows YTD, with the Small Cap outflows being much stronger on a relative basis with -7.8% of assets leaving this space. These numbers are more interesting when taken in the context of the average US Large Cap Equity fund outperforming the average Small Cap Equity Fund by +600bps YTD, but in Europe the pattern is reversed with Large Cap Equity Funds underperforming Small Cap Equity Funds by -340bps. Click in the comments section to learn more.

keyboard_arrow_left Previous keyboard_arrow_right Next

For more, read our Global Navigator: isimarkets.com/publications/g…

𝗖𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝗶𝗲𝘀 𝗦𝗲𝗰𝘁𝗼𝗿 𝗙𝘂𝗻𝗱𝘀 were also posting an outflow, with redemptions hitting a nine-week high. Funds with agricultural commodity mandates posted their biggest outflow since the second week of April. Dedicated 𝗠𝗶𝗻𝗶𝗻𝗴 𝗙𝘂𝗻𝗱𝘀 recorded their fifth consecutive inflow but, despite the strong appetite for exposure to physical gold, the five funds recording the biggest outflows for the week all had gold mandates.

Investors returned from summer to GFC-era high bond yields, Fed rate bets and rising oil prices. MMFs drew nearly $30bn, bond funds $18bn and alternatives extended inflows, while equity inflows stayed positive. Read our Global Navigator: eu1.hubs.ly/H0y67-t0

Read the outlook: isimarkets.com/publications/g…

The 4th week of August ended with oil prices falling in response to speculation an existing US-Iran ceasefire will be extended, high-end chip maker #Nvidia releasing a stellar earnings report and the @BureauofEconomicAnalysis delivering mixed inflation data for July. Investors responded by steering another $4.5 billion into 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐒𝐞𝐜𝐭𝐨𝐫 𝐅𝐮𝐧𝐝𝐬 and over $7 billion into 𝐏𝐡𝐲𝐬𝐢𝐜𝐚𝐥 𝐆𝐨𝐥𝐝 𝐅𝐮𝐧𝐝𝐬, boosting flows into 𝐂𝐫𝐲𝐩𝐭𝐨𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐅𝐮𝐧𝐝𝐬 to their highest level since early 4Q25 and dialing back their commitments to 𝐈𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐭𝐞𝐜𝐭𝐞𝐝 𝐁𝐨𝐧𝐝 𝐅𝐮𝐧𝐝𝐬. Read our full Global Navigator here: eu1.hubs.ly/H0x-5DZ0 #globalnavigator #investorsentiment #equityfundflows #bondfundflows #sectorfundflows

With 2025 less than half over, EPFR-tracked 𝐁𝐨𝐧𝐝 𝐅𝐮𝐧𝐝𝐬 saw year-to-date inflows climb past the $500 billion mark. 𝐔𝐒 and 𝐄𝐮𝐫𝐨𝐩𝐞-𝐦𝐚𝐧𝐝𝐚𝐭𝐞𝐝 𝐟𝐮𝐧𝐝𝐬 drove the latest week’s headline number during a week when the US Federal Reserve met for the first time under the new leadership of Kevin Warsh and data showed US inflation exceeding 4% in May. According to analysis by CEIC economist Ahmet Kaya, the hike was widely anticipated, but “the more difficult assessment is what the ECB will do next, and whether there are lessons to be learned from the 2022 hiking cycle. Given that underlying economies remain weak, and the EU has diversified its energy sources in the wake of the Russia-Ukraine war, it's too early to price in more aggressive tightening.” According to Kaya, “This is a much different cycle than the one we saw in 2022, which followed pandemic-era stimulus (including negative interest rates) and post-Covid dislocations. Those demand-driven factors drove a sharp uptick in headline and core inflation long before Russia invaded Ukraine and gas flows to Western Europe were disrupted. Today, the ECB is hiking from a position of tighter financial conditions, meaning the marginal impact of further hikes may be less pronounced.”   Click in the comments section to learn more about Bond, DM and EM Equity, and Sector Fund flows in this week's Global Navigator.

@CEICData1 Watch the Webinar on Demand here: isimarkets.com/event/webinar-…

The latest week saw redemptions from 𝐉𝐚𝐩𝐚𝐧 𝐄𝐪𝐮𝐢𝐭𝐲 𝐅𝐮𝐧𝐝𝐬 hit a 12-week high as retail share classes posted their first outflow since mid-June and domestically domiciled funds saw their biggest outflow since late May. Japan-mandated funds have outperformed 𝐔𝐒 𝐄𝐪𝐮𝐢𝐭𝐲 𝐅𝐮𝐧𝐝𝐬 so far this year despite returning for less to shareholders in the form of buybacks. This tendency means that, as a % of GDP, Japanese companies hold over five times the amount of cash held by their US counterparts. According to CEIC economist Jackson Chan, these corporate cash buffers come at a cost to the broader Japanese economy. “Decades of deflation led [Japanese] firms and households to expect wages and prices would stay low,” noted Chan in a recent report. “Corporates prioritized deleveraging and liquidity, suppressed domestic investment and preferred investing overseas. As a result, Japanese firms accumulated relatively more cash than their counterparts in other developed …this cautiousness weighed on capital accumulation and productivity growth, reinforcing weak demand and deflationary pressure.” Chan points out that, “Japan's potential growth has remained the lowest among G7 economies. Japanese companies have also historically generated the lowest return on equity (ROE) among developed markets, reflecting inefficient capital allocation and those large cash holdings.” But, under pressure from successive governments, “corporate capital expenditure is growing steadily, though it only surpassed its pre-GFC peak in yen terms last year.” Get more insight into DM and EM Equity, Bond and Sector Fund flows in this week's Global Navigator. eu1.hubs.ly/H0xSvH30