Investor requests to exit hedge funds fall in January
LONDON (Reuters) - Hedge fund investors withdrawal requests in January were for a lower amount than last month, new data showed on Wednesday, as more clients stuck with their managers to navigate financial markets in the coming year.
The SS&C (SSNC.O) GlobeOp Forward Redemption Indicator, a monthly snapshot of hedge fund clients giving notice to withdraw their cash, expressed as a percentage of assets under administration, fell to 2.67 percent from 5.9 percent in December.
That was the lowest reading since January last year, when it measured 2.04 percent.
Net new money of almost $64 billion helped hedge fund industry assets to reach a record high last year, data released this week showed.
However, outflows did rise towards the end of 2013 after a year in which the average return fell short of stock market gains.
(Reporting by Tommy Wilkes; Editing by David Goodman)
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