Saturday, 20 December 2014
Last updated 17 hours ago
Dec 21 2012 | 11:06am ET
Hedge fund investors are voting with their feet in a big way this month.
Redemption requests hit a three-year high in December, according to SS&C GlobeOp's Forward Redemption Indicator. The withdrawal yardstick ticked up to 6.19% of assets under administration this month; it was 4.58% last December.
And while hedge funds' middling performance this year undoubtedly played a role, fears of a fiscal cliff and big tax hike on Jan. 1 may also be motivating redeemers.
"December is… the final chance to change your tax liability," SS&C Technologies CEO Bill Stone told Reuters. "People are generating the cash to be able to make their quarterly estimated payment. A lot of people are going to make tax-influenced decisions."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.