Thursday, 30 March 2017
Last updated 4 hours ago
Mar 13 2017 | 5:32pm ET
Hedge funds continued their winning streak in February, according to new data from fund administrator SS&C GlobeOp, while asset flows remained buoyant.
The company’s widely-followed SS&C GlobeOp Hedge Fund Performance Index rose 1.13% in the month of February, following a solid 1.71% in January. It was the measure’s fourth consecutive monthly reading higher than +1%.
SS&C GlobeOp’s asset-weighted index flashes a monthly estimate of the gross aggregate performance of funds for which SS&C GlobeOp provides monthly administration services on its platform.
Meanwhile, the March reading of SS&C GlobeOp’s Capital Movement Index advanced 0.41%, a similar reading to January’s 0.45% gain.
Similar to its performance-focused counterpart, the index tracks monthly net hedge fund subscriptions and redemptions administered by SS&C GlobeOp on the company’s platform, divided by the total assets under administration.
“SS&C GlobeOp’s Capital Movement Index for March 2017 rose 0.41%, indicating positive net capital flows for hedge funds,” said Bill Stone, CEO of SS&C Technologies. “This increase was lower than the 0.75% increase reported a year ago for March 2016, with lower inflows accounting for the difference.
"For the year-to-date, the [capital movement] index is running 28 basis points below the same period a year ago, which is within the range of normal variation,” he added.
Total assets under administration on the SS&C GlobeOp platform represent approximately 10% of the estimated assets currently invested in the hedge fund sector. Founded in 1986, the Windsor, CT-based firm provides investment and financial software-enabled services and software focused exclusively on the global financial services industry, providing services to more than 10,000 financial services organizations managing an aggregate $44 trillion in assets.