Hedge fund exit requests up in wake of oil rout

(Reuters): Investors asked for more of their money back from hedge funds in the immediate aftermath of this month's commodities rout, data from hedge fund services firm GlobeOp (GO.L) on Monday shows. The firm's monthly snapshot of hedge fund redemption requests was taken on May 17, less than two weeks after oil lost as much as $13 a barrel on May 5, causing heavy losses at a number of funds.The GlobeOp Forward Redemption Indicator — a snapshot of clients giving advance notice they want to pull out their cash as a percentage of GlobeOp's assets under administration — rose to 3.92 percent from 2.45 percent.

This is the highest level so far this year and the second highest since last summer, though it is likely to have also been boosted by clients wanting to withdraw money at the half-year point.

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