SS&C Forward Redemption Indicator Rises in December

For December, the SS&C GlobeOp Forward Redemption Indicator moved up, measuring 5.87%, compared to 5.05% in November.

SS&C’s Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform.

“In line with other year-end averages, December forward redemptions represented a 12 month-high, with the bulk of activity falling in the under 1 month category,” says Bill Stone, chairman and chief executive officer, SS&C Technologies.”

Redemption notices received less than a month before the redemption date accounted for the bulk of redemptions, measuring 4.43%. The second most common notice period was greater than three months, measuring 1.07%. Those between two and three months measured just 0.19%, while those received one to two months prior to the redemption date measured 0.18%.