LONDON, Nov 20 (Reuters) - Client requests to take out money from hedge funds rose to an 11-month high in November, data released on Thursday showed.
The SS&C GlobeOp Forward Redemption Indicator, a snapshot of hedge fund clients giving notice to withdraw cash expressed as a percentage of assets under administration, rose to 5.05 percent in November from 3.12 percent in October and the highest since December last year.
"In line with seasonal expectations, forward redemption requests increased in November due to year-end investor rebalancing," said Bill Stone, chairman and chief executive of SS&C Technologies.
The index is compiled by fund administrator SS&C Technologies Holdings Inc and is based on data provided by its fund clients, who represent about 10 percent of the assets invested in the hedge fund sector. (Reporting by Nishant Kumar; editing by Keiron Henderson)