The SS&C GlobeOp Forward Redemption Indicator for February 2020 measured 2.83 percent, up from 2.26 percent in January.

Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies, says this is a very favourable result compared to the 3.42 percent reported a year ago, and well below long-term averages for redemptions in February.

"Together with other recent data points, this month's low level of redemption notices indicates that hedge fund asset retention is off to a strong start in 2020," he says.

"With respect to the impact of recent market news, it should be noted that the weeks prior to the favorable February redemption reading included the highest market volatility since October 2019, as measured by the VIX, driven by concerns over the coronavirus outbreak."

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 value of assets under administration at the beginning of the month on the 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 percent in November 2008," says Stone.

SS&C says the GlobeOp Forward Redemption Indicator presents a timely and accurate view of the redemption pipeline for investors in hedge funds on the 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.

Earlier this month, SS&C Technologies announced that Innocap Investment Management and IGIM, a US$7.2 billion managed account platform provider, have selected SS&C GlobeOp to provide data aggregation and shadow services.

SS&C said it will help support Innocap's platform growth and increase in the number of trading advisors, administrators and data provider relationships across different time zones and financial products. Innocap requires complete, accurate, reconciled and timely IBOR (investment book of record) data to support the platform's oversight functions.

SS&C will consolidate and report aggregated data from more than 40 trading advisors on Innocap's platform and deliver its IBOR on trade date. Additionally, SS&C reconciles the daily NAVs (net asset values), trial balances and performance fees across Innocap's multiple fund administrators to reconcile the independently aggregated IBOR with the official Accounting Book of Records (ABOR).

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The SS&C GlobeOp Forward Redemption Indicator for February 2020 measured 2.83 percent, up from 2.26 percent in January.

Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies, says this is a very favourable result compared to the 3.42 percent reported a year ago, and well below long-term averages for redemptions in February.

"Together with other recent data points, this month's low level of redemption notices indicates that hedge fund asset retention is off to a strong start in 2020," he says.

"With respect to the impact of recent market news, it should be noted that the weeks prior to the favorable February redemption reading included the highest market volatility since October 2019, as measured by the VIX, driven by concerns over the coronavirus outbreak."

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 value of assets under administration at the beginning of the month on the 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 percent in November 2008," says Stone.

SS&C says the GlobeOp Forward Redemption Indicator presents a timely and accurate view of the redemption pipeline for investors in hedge funds on the 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.

Earlier this month, SS&C Technologies announced that Innocap Investment Management and IGIM, a US$7.2 billion managed account platform provider, have selected SS&C GlobeOp to provide data aggregation and shadow services.

SS&C said it will help support Innocap's platform growth and increase in the number of trading advisors, administrators and data provider relationships across different time zones and financial products. Innocap requires complete, accurate, reconciled and timely IBOR (investment book of record) data to support the platform's oversight functions.

SS&C will consolidate and report aggregated data from more than 40 trading advisors on Innocap's platform and deliver its IBOR on trade date. Additionally, SS&C reconciles the daily NAVs (net asset values), trial balances and performance fees across Innocap's multiple fund administrators to reconcile the independently aggregated IBOR with the official Accounting Book of Records (ABOR).