Hedge fund exit requests hit year’s high in May-data

LONDON (Reuters) – Investor requests to take out cash from hedge funds rose in May to their highest this year, data from fund administrator SS&C Technologies showed on Wednesday.

The SS&C GlobeOp Forward Redemption Indicator, a snapshot of withdrawal requests expressed as a percentage of assets under administration, rose to 4.68 percent in May from 3.36 percent in April.

Bill Stone, chairman and chief executive officer at SS&C Technologies, said in a statement that the rise was “reflecting mainly seasonality, as the increase year over year is only 36 basis points from … May 2014.”

The index is compiled by SS&C based on data provided by its fund clients, who represent about 10 percent of assets invested in the hedge fund sector.

Despite the monthly rise, however, forward redemptions remain well below a high of 19.27 percent hit in November 2008, SS&C said.

(Reporting by Carolyn Cohn; Editing by Keith Weir)

Free newsletter signup
I agree to have my personal information transfered to MailChimp ( more information )
Never miss another Bankless Times news story as we send you hand-picked articles every morning
We hate spam. Your email address will not be sold or shared with anyone else. You will only receive our daily newsletter. You can unsubscribe at any time.