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Alternative Market Briefing

Cyprus banking crisis may lead to more hedge fund redemption requests

Thursday, April 11, 2013

From Precy Dumlao, Opalesque Asia – The worsening banking crisis in Cyprus is causing a rise in the number of redemption requests in the hedge funds industry, reported Reuters.

According to the hedge fund administrator SS&C GlobeOp, March’s Forward Redemption Indicator, a percentage of SS&C GlobeOp's hedge fund assets under administration being redeemed, showed that more clients submitted notice of withdrawal. Indeed, the withdrawal requests hit a three-month high in March, as the Indicator measured 4.33%, up from 3.96% in February.

However, SS&C GlobeOp noted that while the banking crisis has led to a rise in demands to exit from hedge funds, inflows to hedge funds also rose in March, an indication that the capital is being transferred from one fund manager to another, instead of moving it out of the industry completely. The SS&C GlobeOp Capital Movement Index, which tracks monthly net subscriptions to and redemptions from funds, measured 149.61 points (1.18% net, inflows 2.......................

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