Tuesday, 1 September 2015
Last updated 38 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…