The SS&C GlobeOp Forward Redemption Indicator for September 2015 measured 3.79 per cent, up from 3.46 per cent in August.
“SS&C GlobeOp's Forward Redemption Indicator of 3.79 per cent for September of 2015 is an increase compared to both prior month and year over year figures,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “The bulk of the increase was in longer term planned redemptions, with some concentrated activity among certain funds, so it is too early to say whether this is a change in recent trends which have been relatively stable despite market volatility.”
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 October, 2015.
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.
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The LME today also announces it has appointed industry veteran Christian Schirmeister as a senior consultant in its Product Development team, where he will be responsible for promoting the new ferrous contracts to the industry. Schirmeister previously worked in the Global Commodities Group at JP Morgan, and before that spent 13 years at one of Germany’s largest industrial firms, Metallgesellschaft AG.