SS&C GlobeOp’s Forward Redemption Indicator shows that notifications recovered somewhat, increasing from July’s 2.08 percent dip to reach a figure of 3.46 percent in August.
The indicator represents the sum of forward redemption notices received from hedge fund investors, divided by the assets under administration of SS&C GlobeOp fund administration clients at the beginning of the month. It reached an all-time high of 19.27 percent in November 2008, and a 12-month high of 5.87 percent in December.
Data on the platform represents about 10 percent of the whole hedge fund industry.
Bill Stone, chairman and CEO of SS&C Technologies, attributed the change primarily to seasonal changes, however he pointed out that August 2015’s figure was still less than the same time last year.
He said: “It’s noteworthy that on a year-over-year basis, the 3.46 percent for August of 2015 is sharply lower than August of 2014 which came in at 4.19 percent. In particular, there was a decline in near-term redemptions, which together with other recent SS&C GlobeOp index results, suggests that hedge funds are benefiting from the recent elevated market volatility.”
The SS&C GlobeOp hedge fund performance index reported a flash estimate of 0.69 percent, a considerable improvement on July’s estimate of -0.65. Year-to-date the performance has achieved 7.51 percent, while the last 12 months has seen an increase of 9.8 percent.
