Rise in forward redemptions for SS&C GlobeOp 20 June 2014Connecticut Reporter: Stephen Durham
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SS&C GlobeOp’s Forward Redemption Indicator for June has shown notifications of 4.80 percent, up from 4.32 percent in May.
The data on the GlobeOp platform currently represents approximately 10 percent of the hedge fund industry.
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, divided by the assets under administration at the beginning of the month for fund administration clients on the GlobeOp platform.
“In line with semi-annual patterns, forward redemptions increased for the month of June, with the majority of activity falling in the under one month category,” said Bill Stone, chairman and CEO of SS&C Technologies.
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.
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