Hedge fund exit requests drop in April - data
LONDON, April 21 (Reuters) - Investor (Stockholm: INVE-A.ST - news) requests to take out cash from hedge funds dropped in April from the month before, data from fund administrator SS&C Technologies (NasdaqGS: SSNC - news) showed on Tuesday.
The SS&C GlobeOp Forward Redemption Indicator, a snapshot of withdrawal requests expressed as a percentage of assets under administration, measured 3.36 percent in April, down from 3.91 percent in March.
"The forward Redemption Indicator for both April and year-to-date 2015 are consistent with seasonal trends and closely in line with year-ago numbers. This suggests the hedge fund sector remains stable," said Bill Stone, chief executive of SS&C.
The index is compiled by SS&C based on data provided by its fund clients, who represent about 10 percent of assets invested in the hedge fund sector. (Reporting by Nishant Kumar; Editing by David Holmes)