Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.
Saturday, 3 December 2016
Last updated 3 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."