Hedge Fund Monthly Update – February 2014 (UBS)

February 2014

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

Authors:

UBS

Organizations:
  • UBS

Summary:

– Equity Long Short returns -0.2% in January vs. -3.7% for MSCI World, in favorable environment for stock picking.
– Equity hedge funds increase shorts into month end, and lower net exposures.
– Utilities, Health Care and Telecoms see strongest buying by UBS clients; Consumer Discretionary least preferred.
– Reversal of Japan reflation trade hurts both macro funds (-1.7%) and CTAs (-3.0%).
– Global Emerging Markets outflows reach record 15 weeks; January EM outflows exceed 2013 outflows.

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