The SS&C GlobeOp Forward Redemption Indicator for October 2025 measured 1.86%, a decrease from 2.21% reported in September. This figure falls below the five-year average of 2.06% for the indicator.
Bill Stone, Chairman and Chief Executive Officer of SS&C Technologies, commented on the findings, stating that the decline reflects ongoing market dynamics. He noted that factors such as trade and tariff uncertainty, expectations for Federal Reserve rate cuts, and the U.
S. federal government shutdown continue to contribute to market volatility. Stone added that investors are maintaining their allocations to hedge funds to enhance diversification, manage drawdowns, and improve risk-adjusted returns.
SS&C GlobeOp defines its Forward Redemption Indicator as the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp, divided by the total assets under administration (AuA) at the beginning of the month for these clients. The indicator provides a timely view into the hedge fund redemption pipeline, with movements often reflecting investor confidence in their hedge fund allocations. Redemption notifications are typically received 30-90 days in advance, although investors may cancel notices, and enforcement varies by fund.
Historically, forward redemptions as a percentage of SS&C GlobeOp’s assets under administration have trended significantly lower since reaching an all-time high of 19.27% in November 2008. The indicator’s all-time low was 1.48% in April 2022, while its 12-month high was 3.54% in December 2024 and its 12-month low was 1.56% in July 2025.
Further data from SS&C GlobeOp includes the Hedge Fund Performance Index, which reported a flash estimate of 1.09% for the current month, 10.86% year-to-date, 13.43% for the last 12 months, and 322.62% life-to-date (all numbers reported are gross). The SS&C GlobeOp Capital Movement Index, with a base of 100 points on December 31, 2005, recorded an all-time high of 150.77 in September 2013 and a 12-month high of 127.60 in September 2025.
The SS&C GlobeOp Hedge Fund Index is a suite of indices developed by SS&C GlobeOp to offer transparency on hedge fund liquidity, investor sentiment, and performance. Based on a substantial platform of diverse assets, the Capital Movement Index and Forward Redemption Indicator provide monthly reports derived from actual and anticipated capital movement data from all hedge fund clients using SS&C GlobeOp’s administration services. The Hedge Fund Performance Index serves as an asset-weighted benchmark of the aggregate performance of funds for which SS&C GlobeOp provides monthly administration services. Data from funds acquired through the Citi Alternative Investor Services acquisition has been integrated into the index suite since January 2017. SS&C GlobeOp’s total assets under administration on its platform represent approximately 10% of the estimated assets currently invested in the hedge fund sector.
SS&C Technologies Holdings, Inc., headquartered in Windsor, Connecticut, is a global provider of software and services for the financial services and healthcare industries. Established in 1986, the company serves over 22,000 organizations worldwide.
