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Hedge fund exit requests rise in March - data

Reuters - UK Focus

LONDON, March 20 (Reuters) - Investor (Other OTC: IVSBF - news) requests to take out cash from hedge funds rose month on month in March, data from SS&C Technologies (NasdaqGS: SSNC - news) showed on Friday.

The SS&C GlobeOp Forward Redemption Indicator -- a snapshot of withdrawal requests expressed as a percentage of assets under administration -- measured 3.91 percent in March, up from 3.64 percent in February.

"March redemption requests are in line with prior-year levels and represent quarter-end activity, plus slightly higher redemptions planned for the long-term," said Bill Stone, chief executive officer of SS&C Technologies.

The index is compiled by fund administrator SS&C Technologies Holdings Inc and 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)