The GlobeOp Forward Redemption Indicator for June 2012 measured 3.71%, up from 3.31% in May.
“The June Forward Redemption Indicator is surprisingly low given that it is dominated by July redemptions, a traditionally large month for fund withdrawals,” says Hans Hufschmid (Pictured), chief executive officer, GlobeOp Financial Services.
The Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by GlobeOp, divided by the AuA at the beginning of the month for GlobeOp fund administration clients. Forward redemptions as a percentage of GlobeOp assets under administration have trended significantly lower since reaching a high of 19.27% in November 2008. The next publication date is July 20, 2012.