Laxman Pai, Opalesque Asia: The SS&C GlobeOp Forward Redemption Indicator for August 2018 measured 2.73%, up from 2.40% in July.
According to Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies, the August 2018 reading of 2.73% continues the generally favorable trend in asset retention that we've seen over the past year and a half, indicating investor confidence in hedge funds remains high.
A press release from the global provider of investment and financial software-enabled services quoted Bill Stone as saying: "SS&C GlobeOp's Forward Redemption Indicator for August 2018 of 2.73% was a very strong result for the hedge fund industry, markedly better than the 3.55% reported for the same period a year ago and the second lowest level of redemption notices for any calendar month of August since the inception of the Indicator in 2008"
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 administration on the SS&C GlobeOp platform have trended significantly lower since reaching a high of 19.27% in November 2008. The next publication date is September 24, 2018.
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