Forward redemptions rise in December 23 December 2013Connecticut Reporter: Georgina Lavers
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The SS&C GlobeOp Forward Redemption Indicator for December 2013 measured 5.9 percent, up from 5.09 percent in November.
However Bill Stone, chairman and CEO of SS&C Technologies, said that the increase was in line with year-end averages. "Forward redemption requests increased for the month of December, with a majority of redemptions falling in the under one month category."
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the GlobeOp platform, divided by the AUA at the beginning of the month for SS&C GlobeOp fund administration clients on the GlobeOp platform.
Forward redemptions as a percentage of SS&C GlobeOp's assets under administration on the GlobeOp platform have trended significantly lower since reaching a high of 19.27 percent in November 2008. The next publication date is 23 January 2014.
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