Saturday, 28 November 2015
Last updated 11 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."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…