24 Apr 2012
LONDON, NEW YORK – 24 APRIL 2012 – The GlobeOp Forward Redemption Indicator for April 2012 measured 2.00%, down from 3.23% in March.
“April’s forward redemptions dropped to two percent, the second lowest month on record and the lowest April in the history of the Indicator,” said Hans Hufschmid, chief executive officer, GlobeOp Financial Services (LSE:GO.).
The Indicator represents the sum of forward redemption notices received from investors in hedge funds administered by GlobeOp, divided by the AuA at the beginning of the month for GlobeOp fund administration clients. Forward redemptions as a percentage of GlobeOp assets under administration have trended significantly lower since reaching a high of 19.27% in November 2008. The next publication date is May 22, 2012.
Published on the 15th business day of the month, the GlobeOp Forward Redemption Indicator presents a timely and accurate view of the redemption pipeline for investors in hedge funds on the 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.
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GlobeOp Financial Services
GlobeOp Financial Services (LSE:GO.) is an independent financial administrator specializing in middle and back office services and integrated risk-reporting to hedge funds, asset management firms and other sectors of the financial industry -- including family wealth, banks, insurance companies, pension funds and corporate treasuries. By outsourcing to GlobeOp, clients can reduce their technology investments and operational risks, while increasing their focus on asset generation and portfolio management. Established in 2000, GlobeOp serves approximately 200 clients worldwide, representing $187 billion in assets under administration. Headquartered in London and New York, GlobeOp employs over 2,300 people on three continents through its 11 offices in the Cayman Islands, India, Ireland, the UK and US. Further information: www.globeop.com; www.twitter.com/GlobeOp; www.globeopindex.com.
About the GlobeOp Hedge Fund Index
GlobeOp Financial Services (LSE:GO.) offers an independent monthly window onto hedge fund capital flows following the launch in April 2011 of the first indices in the GlobeOp Hedge Fund Index family. It is the first index by a hedge fund administrator, and offers clients, investors and the overall market transparency on liquidity and investor sentiment based on a significant platform of assets. The GlobeOp Hedge Fund Index is available on www.globeopindex.com or through a link on the homepage of www.globeop.com. Alert and RSS subscriber options are available on www.globeop.com. Index Twitter comments: #HFindex.
The first two Indices - the GlobeOp Capital Movement Index and the GlobeOp Forward Redemption Indicator- provide monthly reports based on actual and anticipated capital movement data independently collected from all hedge fund clients for whom GlobeOp provides administration services. While individual fund data is anonymized by aggregation, Index data will be based on the same reconciled fund data GlobeOp uses to produce fund net asset value (NAV) reports. GlobeOp's total assets under administration represent approximately eight to 10 percent of the estimated assets currently invested in the hedge fund sector. The investment strategies of the funds in the Indices span a representative industry sample. Data for middle and back office clients who are not fund administration clients is not included in the Index but is included in the company's results announcement data about AuA.
GlobeOp Capital Movement Index
|Base||100 points on 31 December 2005|
|All time high||145.81 in September 2008|
|All time low||99.67 in January 2006|
|12-month high||144.94 in April 2012|
|12-month low||132.63 in May 2011|
|Largest monthly change||-15.21 in January 2009|
GlobeOp Forward Redemption Indicator
|All time high||19.27% in November 2008|
|All time low||1.85% in January 2012|
|12-month high||4.58% in December 2011|
|12-month low||1.85% in January 2012|
|Largest monthly change||9.60% in November 2008|
GlobeOp, GlobeOp Hedge Fund Index and the GlobeOp "G" are trade or service marks of GlobeOp and its affiliates.
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