Hedge Fund Monthly Update – February 2014 (UBS)

February 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, Emerging Markets



  • UBS


– 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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