SS&C GlobeOp’s Capital Movement Index showed net flows decline 1.22% in April and its Hedge Fund Performance Index for March measured 1.53%.
The SS&C GlobeOp Capital Movement Index, which represents the monthly net of hedge fund subscriptions and redemptions administered by SS&C GlobeOp on the GlobeOp platform, stood at 148.40 points in April, a 1.22 point decrease over March 2013.
The SS&C GlobeOp Hedge Fund Performance Index, an independent monthly window on hedge fund performance, increased 1.16% on February 2013.
“April brings higher capital activity volume with redemptions outpacing subscriptions, which is in line with last month’s slightly higher Forward Redemption Indicator,” said Bill Stone, chairman and CEO, SS&C Technologies.
SS&C GlobeOp's Forward Redemption Indicator (FRI), which presents a view of the redemption pipeline for investors in hedge funds on the GlobeOp administration platform, measured 4.33% in March, up from 3.96% in February. The indicator reached an all time high in November 2008, three months after the Lehman crisis, measuring 19.27%. The next publication date is April 19, 2013.
The latest figures validate Stone’s recent comments in a Reuters report where he predicted that demand from investors, who are anxious about the Cypriot debt crisis, would rise further from a three month high in March. “There’s been volatility in markets, so you're going to see fund redemptions correlated with what's happening there," the report quoted him as saying. "Cyprus has had an impact on short-term thinking.” Stone told the news service he expected a higher figure the next FRI.
Published on the ninth business day of each month, the SS&C GlobeOp Capital Movement Index presents a view of investments in hedge funds on the GlobeOp administration platform. Data is based on actual subscriptions and redemptions independently calculated and confirmed from real capital movements, and published only a few business days after they occur.