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Hedge fund exit requests drop in October - data

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 20 (Reuters) - Investors flagged their intention to shift less money out of hedge funds in October after market volatility eased, data released on Tuesday showed.

The SS&C GlobeOp Forward Redemption Indicator, withdrawal requests expressed as a percentage of assets under administration, fell to 3 percent from September's 3.8 percent, data from fund administrator SS&C Technologies (NasdaqGS: SSNC - news) showed.

The reversal suggested the bulk of investors' portfolio rebalancing in the face of elevated market volatility had been accomplished, said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies.

Hedge funds typically open for subscription or redemption at the start of every month or quarter.

The index compiled by the fund administrator is based on data provided by its clients, and represents about 10 percent of assets invested in the hedge fund sector globally. (Reporting by Simon Jessop, editing by David Evans)