SS&C GlobeOp: Capital Movement Index Up 1.24%

Jun 13 2017 | 11:19pm ET

Hedge funds stumbled slightly in May, according to new data from fund administrator SS&C GlobeOp, while the company’s asset flow indicator advanced again.

The company’s widely followed SS&C GlobeOp Hedge Fund Performance Index dipped  -0.13% in May following a string of consecutive monthly advances, SS&C said in a statement. The company’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 June reading of SS&C GlobeOp’s Capital Movement Index came in at 1.24%, a major improvement over last year’s negative result in the comparable period.

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 June 2017 rose 1.24%, a strong improvement in net flows from the -0.07% reported a year ago for June 2016,” said Bill Stone, CEO of SS&C Technologies. “This very favorable result reflects a marked increase in capital inflows, as well as better asset retention.  If this increased rate of capital inflows proves sustainable, and redemptions continue to moderate, the hedge fund industry should see an acceleration in asset growth.”

Windsor, CT-based SS&C’s clients represent about 10% of assets invested in the hedge fund sector. Founded in 1986, the company provides investment and financial software-enabled services to more than 10,000 financial services organizations that manage an aggregate $44 trillion in assets.

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