LONDON, July 21 Investor demand to pull money
out from hedge funds dropped to a six-month low in July,
following portfolio adjustments during the previous month, data
released on Monday showed.
The SS&C 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 3.15 percent in July from 4.8 percent in
June and the lowest since January.
"July's forward redemptions decreased by over 1 percent, but
remain in line with historical averages," said Bill Stone,
chairman and chief executive officer, SS&C Technologies.
Exit requests typically declined at the start of every
quarter, the data showed.
The index is compiled by fund administrator SS&C
Technologies Holdings Inc and is based on data provided by its
fund clients, which represent about 10 percent of the assets
invested in the hedge fund sector, or about $300 billion.
(Reporting by Nishant Kumar, editing by David Evans)