Serving the buy-side and sell-side since 2016

Flows & Positioning for Emerging Markets Macro


Fund Flows, Fund Allocations, and Portfolio Flows.

Fund Flows

Flows of capital into mutual funds and ETF's that may or do invest in EM.

Over five hundred mutual funds are dedicated to emerging market debt, and over one thousand are dedicated to emerging market equities. There are also thousands of mutual funds that will allocate to EM Macro, such as global bond funds, in a more flexible way. We're tracking inflows to - and outflows from -all of them, every day.

Fund Allocations

Issuer, Currency, Credit Rating, Duration, Cash Levels

We have data on all the different ways that both dedicated and unconstrained funds are taking risk by not following their benchmark in their quest for outperformance. Want to know where positioning looks crowded? This monthly data service is for you.

Portfolio Flows and Positions

Bond and equity holdings and flows of foreigners and locals.

Want to know how much foreigners hold of the bonds and equities of emerging market issuers? Want to know if foreigners are buying or selling? Want to know what the overall flow story and exposure risks look like? This daily, weekly and monthly service is for you.

Transparent pricing, for everyone.

Talk to us for more information about our plans.

Base Plan

For medium and large teams.

$50,000 / year

  • Access to, where over 5,000 time-series, many of them proprietary, are charted.
  • Unlimited access to the data, via API and Excel spreadsheets.
  • Daily, weekly and monthly cut-to-the-chase emails.
  • Unlimited access to product experts and technical support.

What you will get

  • EM Bond Dedicated.
  • Asia Bond Dedicated.
  • EM Equity Dedicated.
  • High Yield Bond Dedicated.
  • Investment Grade Bond Dedicated.
  • EM Bond Dedicated.
  • Asia Bond Dedicated.
  • Global Multi-Sector Bond .
  • High Yield Bond Dedicated.
  • Investment Grade Bond Dedicated.

Portfolio Flows & Positions

  • Tracking the total foreign flows and foreign holdings of the sovereign bonds of EM issuers in Local Currency & Hard Currency; and also local-resident holdings; and cross-border equity flows
  • Daily updates, Weekly insights, Special Reports on the investor base for EM Macro

Our Story.

Employees seated at a table in an office during a meeting

Mike Trounce started Trounceflow in 2016 with a simple but powerful idea: positioning is 'a thing' and can be measured and monetised.

Let's take a step back. Most foreign (developed market) participants in the bond markets of emerging market sovereign and corporate issuers are "benchmark-aware" (they report their performance relative to a benchmark, such as the JPMorgan GBI-EM Global Diversified index) and as such, they "take a position" (they try and beat their benchmark by allocating more or less (than benchmark) to different issuers, currencies, and other kinds of risks). This can give rise to situations in which the aggregate foreign investor is "overweight" or "underweight". Because there are bounds (constraints) on these tracking errors / deviations from benchmark, it is more likely than not that, in the end, extreme positions will revert back to normal, and probably in a disorderly fashion, giving rise to trading opportunities.

Three employees sitting on chairs in an office exchanging ideas

The big idea at Trounceflow is that, if you could know what this positioning looks like ahead of time, you can be well prepared for the potential disorderly situations, and that, with Trounceflow, you can! We capture data on the positioning of all the market participants to try and infer what positioning looks like. It's a big job, but we have written software and have retained analysts to do exactly that. We have been serving some of the world's most demanding and sophisticated buy-side and sell-side investors since 2016, and would love to hear more from you if you are interested in flows, positions, market structure and the bond markets of emerging economies.