Hedge Fund Monthly Update – January 2014 (UBS)

January 2014

KEYWORDS: Asia Pacific, capital introduction, China, commodity trading advisor, CTA, 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



  • UBS


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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