Hedge Fund Redemption Notices Increase in August

SS&C GlobeOp’s Forward Redemption Indicator registered notifications of 4.19% for August, an increase of over 1% on the 3.15% recorded in July.

The Forward Redemption Indicator represents the total number of forward redemption notices received from hedge fund investors administered by SS&C GlobeOp, divided by the Assets Under Administration recorded at the start of the month for all SS&C GlobeOp fund administration clients.

The 4.19% registered for August represents a relatively strong score as compared to the Indicator’s 12-month high of 5.90%. The largest monthly change ever recorded since the Indicator’s inception stands at 9.60%, as accumulated in November 2008.

Bill Stone, SS&C Technologies Chairman and CEO, comments, “Redemption notifications increased by about 1% for the month, but remain moderate and in line with activity this time last year.”

SS&C GlobeOp says its data represents approximately 10% of the total hedge fund industry.