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Hedge funds record seventh consecutive month of lower redemption notices on a year-over-year basis

Monday, August 21, 2017
Opalesque Industry Update - The SS&C GlobeOp Forward Redemption Indicator for August 2017 measured 3.55%, up from 2.57% in July.

'SS&C GlobeOps' Forward Redemption Indicator of 3.55% for August 2017 reflects solid year-over-year improvement from the 3.86% reported for August of 2016. The result for August continues the favorable trend in asset retention by hedge funds this year, marking the seventh consecutive month of lower redemption notices on a year-over-year basis,' said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. 'It is also noteworthy that this trend has taken hold during a period of record market highs, indicating that investors are confident hedge funds can provide attractive returns in a directional market.'

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 22, 2017.

Published on the 15th business day of the month, the SS&C GlobeOp Forward Redemption Indicator presents a timely and accurate view of the redemption pipeline for investors in hedge funds on the SS&C GlobeOp administration platform. Movements in the Indicator reflect investor confidence in their allocations to hedge funds. Indicator data is based on actual investor redemption notifications received. Unlike subscriptions, redemption notifications are typically received 30-90 days in advance of the redemption date. Investors may, and sometimes do, cancel redemption notices. In addition, the establishment and enforcement of redemption notices may vary from fund to fund.

At the same time, SS&C GlobeOp reported its Hedge Fund Performance Index:

Base 100 points on 31 December 2005
Flash estimate (current month) 1.24%*
Year-to-date (YTD) 4.78%*
Last 12 month (LTM) 8.52%*
Life to date (LTD) 139.81%*
*All numbers reported above are gross

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