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Alternative Market Briefing

Hedge fund redemptions climb in May, but fell from a year ago

Monday, May 23, 2016

Komfie Manalo, Opalesque Asia:

Redemption request from hedge funds climbed in May even as the financial markets rebounded and showed relative calm during the month, data from SS&C Technologies showed.

The SS&C GlobeOp Forward Redemption Indicator for May jumped 4.38% from 2.94% in April, the company said in a statement.

However, Bill Stone, chairman and chief executive officer of SS&C Technologies, noted that the amount of hedge fund redemptions fell compared to levels recorded in May 2015.

Stone said, "Looking at the year over year comparison, SS&C GlobeOp's Forward Redemption Indicator for May 2016 was 4.38%, an improvement from the 4.68% seen a year ago for May 2015. So far in 2016, four of the first five monthly Forward Redemption Indicator readings have come in lower than the corresponding months of 2015, indicating that investors continue to show confidence in their hedge fund allocations."

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 on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp's assets under administratio......................

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