Hedge fund exit requests rise in Sept - data

LONDON, Sept 21 (Reuters) - Investor requests to take cash out of hedge funds rose in September after a torrid August when the funds lost nearly 2 percent on average, data released on Monday showed.

The SS&C GlobeOp Forward Redemption Indicator, a snapshot of withdrawal requests expressed as a percentage of assets under administration, rose to 3.8 percent in September from 3.5 percent in August, the data from fund administrator SS&C Technologies showed.

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

"The bulk of the increase was in longer term planned redemptions, with some concentrated activity among certain funds," Bill Stone, chairman and chief executive of SS&C Technologies, said in a statement.

"So it is too early to say whether this is a change in recent trends which have been relatively stable despite market volatility," he added.

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 Nishant Kumar; editing by Susan Thomas)