Thursday, 30 March 2017
Last updated 9 min ago
Jun 23 2011 | 8:30am ET
Hedge fund redemptions hit a 2011 high in June, according to data released by GlobeOp on Monday.
The GlobeOp Forward Redemption Indicator rose to 4.01% in June from 3.92% in May.
The June numbers represent the biggest month for withdrawal requests since December 2010, but May redemption requests had already spiked sharply from April, when such requests (expressed as a percentage of GlobeOp’s assets under administration) stood at 2.45%.
Hans Hufschmid, GlobeOp's chief executive officer, doubted weak May returns were behind the June redemption requests: "It's hard to make an argument that people are worried or taking money out because of May performance," he told Reuters.
Most redemption requests in the index were for one-month and under notice periods, reflecting May’s increase in one-to-two month requests. Two-to-three and three-month plus requests also rose slightly.