Friday, 1 July 2016
Last updated 3 hours ago
Jul 14 2014 | 5:19am ET
Portfolio rebalancing took its toll on the hedge-fund industry last month.
The SS&C GlobeOp Capital Movement Index dropped 1.77% in June, its largest decline in six months. The hedge fund administrator said that the index, which represents net subscriptions or redemptions to hedge funds on its GlobeOp platform, said such a dip is to be expected at the half-way point of the year.
“Due to semi-annual redemptions, net flows were negative for the month and represent a new six-month low,” SS&C Technologies CEO Bill Stone said.