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The Financial Times reported the redemption requests on Friday.
Yet by the end of the day redemption requests totalled more than $20 billion.
The bulk of those redemption requests came in the last two weeks.
More redemption requests may follow.In truth, the settlement and its consequences may not be that dire.
The number will probably be higher once the redemption requests made on Tuesday are tallied.
When investors panic, the redemption requests can quickly exhaust the funds' cash on hand.
There are no sellers and the number of redemption requests have receded.
In a statement, Standard Life said the decision followed an increase in redemption requests from investors.
By the time the firm announced the closing, redemption requests had reached about 20 percent of Level Global's assets.
While redemption requests are not mentioned in its letter, Diamondback has already paid a price for the raid.
Harbinger Capital will be required to "take all actions reasonably necessary to expeditiously satisfy all received redemption requests of investors".
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