SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that the SS&C GlobeOp Forward Redemption Indicator for December 2022 measured 4.35%, up from 3.39% in November.
“SS&C GlobeOp’s Forward Redemption Indicator for December 2022 was 4.35% and consistent with longer term averages as investors adjusted allocations with calendar year-end rebalancing,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “With historic drawdowns across most asset classes, hedge funds provided one of the few bright spots for investors in 2022, an indicator that hedge fund asset retention should remain strong heading into 2023.”
The SS&C GlobeOp Forward Redemption Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the AuA at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform. Forward redemptions as a percentage of SS&C GlobeOp’s assets under administration on the SS&C GlobeOp platform have trended significantly lower since reaching a high of 19.27% in November 2008. The next publication date is January 23, 2023.
Published on the 15th business day of the month, the SS&C GlobeOp Forward Redemption Indicator presents a timely and accurate view of the redemption pipeline for investors in hedge funds on the SS&C GlobeOp administration platform. Movements in the Indicator reflect investor confidence in their allocations to hedge funds. Indicator data is based on actual investor redemption notifications received. Unlike subscriptions, redemption notifications are typically received 30-90 days in advance of the redemption date. Investors may, and sometimes do, cancel redemption notices. In addition, the establishment and enforcement of redemption notices may vary from fund to fund.
