Hedge fund exits rise in June (investors reposition at mid-year)

Reuters reports: Requests to pull money out of hedge funds rose in June as investors used the mid-year point to review their portfolios and release cash to spend elsewhere.  Hedge fund administrator SS&C GlobeOp's forward redemption indicator, a monthly snapshot of clients giving notice to withdraw their cash which shows the percentage of assets under administration, stood at 3.88 percent in June, a moderate rise from May's measurement of 3.77 percent.

Bill Stone, chairman and chief executive officer at SS&C Technologies described the June increase as "typical semi-annual redemption activity", such as investors freeing up cash to spend on summer holidays.

So far this year, hedge funds have returned 3.95 percent according to Hedge Fund Research, compared with a gain of almost 13 percent from the S&P 500 .SPX….

Wait….wait…there’s more at http://www.reuters.com/article/2013/06/21/uk-hedge-fund-exits-idUSLNE95K00G20130621