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Hedge fund exit requests decline in September

Reuters - UK Focus

LONDON, Sept 19 (Reuters) - Investor (Other OTC: IVSBF - news) requests to take out money from hedge funds fell in September, data from SS&C showed on Friday.

The SS&C GlobeOp Forward Redemption Indicator, a snapshot of hedge fund clients giving notice to withdraw cash expressed as a percentage of assets under administration, fell to 3.25 percent in September from 4.19 percent in August.

"Forward redemptions were moderate for the month of September, with the bulk of activity representing quarter-end requests," said Bill Stone, chairman and chief executive officer, SS&C Technologies (NasdaqGS: SSNC - news) .

The index is compiled by fund administrator SS&C Technologies Holdings Inc and is based on data provided by its fund clients, who represent about 10 percent of the assets invested in the hedge fund sector. (Reporting by Nishant Kumar; Editing by Simon Jessop and Mark Potter)