Forward notifications for redemptions rose in August month-on-month, according to SS&C GlobeOp.
The fund administrator’s Forward Redemption Indicator recorded redemption notifications of 3.34% in August, up from 2.18% in July. But SS&C GlobeOp says this type of increase is not out of the ordinary.
“Forward redemptions increased in August, which is typical as we approach quarter-end but redemption notices remained at moderate levels, indicating continued investor satisfaction with alternatives,” said Bill Stone, chairman and CEO of SS&C Technologies – which acquired GlobeOp Financial Services and its fund administration platform in June.
The SS&C GlobeOp Forward Redemption Indicator represents