Hedge Fund Monthly Update – January 2014 (UBS)

January 2014

KEYWORDS: long/short equity, event driven, equity hedge funds, Short Selling, global macro, Japan, CTA, commodity trading advisor, managed futures, United Kingdom, Federal Reserve Board, inflation, gold, China, Prime Brokerage, securities lending, Asia Pacific, capital introduction

Authors:

UBS

Organizations:
  • UBS

Summary:

This month’s highlights include:

- Equity Long Short +2.1% in December (+17.0% in 2013) as cyclical stocks provide gains into year end.
- 2013 Quantitative Factor Returns: Value, Momentum provide gains; Quality underperforms.
- Global Macro funds return +0.9% in Dec (+3.8% in 2013), as short JPY, short AUD and long equity bets continue to pay off.
- Year end round up of popular, current macro trades.
- CTAs struggle for third year running, posting lowest hedge fund returns in 2013 (+2.6%).
- 2013 Fund Flows – flows into equities dwarf all others; outflows from HY, Treasuries and Mortgages.

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