June slump for SS&C GlobeOp 22 July 2015London Reporter: Stephanie Palmer
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SS&C GlobeOp’s Forward Redemption Indicator for July 2015 shows that notifications have dipped to 2.08 percent, from 4.72 percent in June.
Bill Stone, chairman and CEO of SS&C Technologies, partly attributed the drop to “normal seasonality”, however, the reading is lower than July 2014’s figure of 3.15 percent, and equal to the lowest even July figure since the index was established in 2008.
The figure of 2.08 percent is also nearing the index’s all time low of 1.85 percent, recorded in January 2012.
Stone said: “This is consistent with other recent SS&C GlobeOp data suggesting that investors are keeping their hedge fund allocations largely in place despite turmoil in international markets.”
The indicator represents the sum of forward redemption notices received from hedge fund investors divided by the assets under administration at the beginning of the month for SS&C GlobeOp fund administration clients. It reached an all-time high of 19.27 percent in November 2008.
Data on the platform represents about 10 percent of the hedge fund industry.
The SS&C GlobeOp hedge fund performance index reported a flash estimate of -0.65 percent for July. Year-to-date the performance has achieved 6.74 percent, while the last 12 months has seen an increase of 8.52 percent.
SS&C GlobeOp hedge fund performance index reported a flash estimate of -0.65 percent for July. Year-to-date the performance has achieved 6.74 percent, while the last 12 months has seen an increase of 8.52 percent.
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