The SS&C GlobeOp Forward Redemption Indicator for July 2019 measured 2.69 per cent, down from 3.81 per cent in June.
“SS&C GlobeOp’s Forward Redemption Indicator for July 2019 was 2.69 per cent, closely in line with historical averages, though up slightly on a year-over-year basis compared to the very favourable 2.40 per cent reported a year ago,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “Overall, this result should be seen as a continuation of the favourable levels of hedge fund redemptions.”
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 per cent in November 2008. The next publication date is 21 August, 2019.
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.