Hedge Fund Monthly Update – July 2014 (UBS)

July 2014

KEYWORDS: long/short equity, Hedge Fund Performance, CTA, commodity trading advisor, Macro, financial crisis, mergers and acquisitions, Emerging Markets



  • UBS


This month’s highlights include:

– Equity Long Short +1.0% in June, +1.9% YTD (vs. MSCI World +1.8%; +6.2% YTD).
– UBS PB book remains net long Financials and cyclical sectors; smaller directional bets in defensive sectors.
– Losses from long USD in June; gains from long GBP.
– Large moves in commodities provides both gains and losses for macro fund and CTAs.
– Global M&A volume: -33% decline in June, month over month, after post crisis records in both April and May.
– $1.3T of M&A volume in Q2, the highest volume since financial crisis by sizable margin.

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