LONDON, July 11 (Reuters) - Investors pulled out money from hedge funds in June at the fastest pace in six months, part of their twice a year adjustments to portfolios, data showed on Friday.
The SS&C GlobeOp Capital Movement Index, which calculates monthly hedge fund subscriptions minus redemptions, fell 1.77 percent in July to 148.66 points.
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 percent of the assets invested in the hedge fund sector, or about $300 billion.
"Due to semi-annual redemptions, net flows were negative for the month and represent a new six-month low," said Bill Stone, chairman and chief executive officer at SS&C.
Net flows into the industry were negative despite hedge funds returns, as measured by the SS&C GlobeOp Hedge Fund Performance Index, rising to a four-month high of 1.16 percent in June, the data showed.
(Reporting by Nishant Kumar; Editing by David Holmes)