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Hedge fund exit requests drop to nine-month low in Oct

Reuters - UK Focus

LONDON, Oct 20 (Reuters) - Investor (Other OTC: IVSBF - news) requests to pull money out from hedge funds dropped to a nine-month low in October, new data released on Monday showed.

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 3.12 percent in October from 3.25 percent in September.

"October's forward redemptions decreased slightly from September, but remain in line with historical averages," said Bill Stone, chairman and chief executive of 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 David Evans)