The SS&C GlobeOp Forward Redemption Indicator for December 2018 measured 4.86 per cent, up from 3.96 per cent in November.
“SS&C GlobeOp’s Forward Redemption Indicator for December 2018 was 4.86 per cent, a year-over-year increase from the 4.18 per cent reported a year ago for December 2017,” says Bill Stone (pictured), Chairman and Chief Executive Officer, SS&C Technologies. “It is important to note with respect to this month’s indicator that December typically produces seasonally high redemptions.
“Additionally, we note the December 2018 reading of 4.86 per cent, while increased from the same period a year ago, is well below the five-year and since-inception averages for the month of December. In light of recent market volatility, we are closely watching redemptions and other key data points, but this month’s results should be viewed as consistent with favourable asset retention by the hedge fund sector.”
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 23 January, 2019.