July has seen net redemptions from hedge funds, according to data from hedge fund administrator GlobeOp Financial Services.
Its GlobeOp Capital Movement Index was down 1.17% for the month. The data reflects quarterly reallocations by investors and the outflow is in line with previous quarter ends, according to the administrator.
The Capital Movement Index represents the monthly net of hedge fund subscriptions and redemptions administered by GlobeOp. This monthly net is divided by the total assets under administration for GlobeOp's fund administration clients – representing approximately 10% of the estimated assets currently invested in the hedge fund sector.
Cumulatively, the index