Investor demand to pull money out from hedge funds dropped to a six-month low in July, following portfolio adjustments during the previous month, data released on Monday showed. The SS&C GlobeOp Forward Redemption Indicator fell to 3.15% in July from 4.8% in June and lowest since January

The SS&C GlobeOp Forward Redemption Indicator is a monthly snapshot of hedge fund clients giving notice to withdraw their cash expressed as a percentage of total assets under administration. The index is compiled by fund administrator SS&C Technologies Holdings Inc and is based on data provided by its fund clients, which represent about 10% of the assets invested in the hedge fund sector, or about $300bn.