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Quarterly Institutional Intelligence Report
+ EMEA & APAC Supplements
- For the first time in several quarters, investor flows were not primarily driven by redemptions from certain active equities and allocations into cash. Rather, investor interest shifted significantly toward opportunities in US High Yield Fixed Income strategies. The result was the universe’s largest overall and rate of inflow since at least 2005.
- Interest in US High Yield is coming from around the world. Consultants in Europe ex-UK were highly focused on these products in Q2 2020, US investors drove new allocations, and viewership was high from not only the US, but from investors in Denmark, the Netherlands and Hong Kong.
- Global Large Cap Growth exhibited the largest positive trend in Q2 2020 of any primary universe. At the same moment, Growth Equity strategies focused on US Small Cap and ACWI ex-US All Cap markets appeared in the negatively trending group, driven in part by declining win-rates and dwindling viewership capture.
- Total flow for EMEA managers’ traditional strategies was positive in Q2 2020 for only the second time since Q1 2018. Fixed income products were the primary drivers of flow in the quarter with EMEA managers’ US Fixed Income-focused products among those with the largest allocations.
- Global Core Equity strategies in both Large and All Cap segments were of high interest to investors and consultants within EMEA in Q2, particularly from within the UK, Denmark and South Africa, while US High Yield (the second most positively trending strategy in our global report), captured high levels of viewership from within France, Finland, Netherlands and Denmark.
- Among the Top 5 most positively trending primary universes of from the 100 of highest importance to EMEA managers in Q2 2020 (based on volume of flow and views on eVestment’s platform), two were Global Growth Equity strategies and European investors were allocators to both during the quarter.
- Total flow for APAC managers’ traditional strategies was negative in Q2 2020 for the second consecutive quarter. Flows for APAC managers had been mostly positive since the beginning of 2017. Flows were negative despite relatively large allocations to Japan Passive Equity, the primary positive driver of flows for APAC firms in Q2.
- Australia was the most active region for investor and consultant views from within APAC in Q2 2020. Their interest was directed primarily to local long-only Australian Equity strategies, but also toward Global All Cap Growth Equity strategies, which also received elevated attention from within India, China, and South Korea.
- Among the Top 5 most positively trending primary universes from the 100 of highest importance to APAC managers in Q2 2020 (based on volume of flow and views on eVestment’s platform), two were Asia ex-Japan Equity strategies and there were no fixed income categories in the group.