Hedge Fund Monthly Update – September 2013 (UBS)

October 2013

KEYWORDS: Equity markets, Macro, MSCI, Hedge Fund Research, DJ UBS Commodity Index, hedged equity, alternative investment, CTA, global macro, commodities, gold, event driven, fixed income, Australia, Japan, credit hedge funds, Asian Hedge Funds, prime broker, securities lending, European Union, capital formation, Emerging Markets, Prime Brokerage, managed futures, Hedge Fund Performance



  • UBS

  • Hedge funds returned an average of +1.7% in September, compared to +5.0% for MSCI World.
  • Equity managers returned an average of +2.8% (YTD +11.2%), with notable gains from Consumer Discretionary, Europe and Japan.
  • CTAs continue to struggle with trend reversals, sustaining losses from short positions in fixed income and long positions in oil (CTAs 0.0% in Sept, -2.1% YTD).
  • Macro funds returned an average of -0.0%, hurt by their long USD bias (+2.2% YTD).
  • In our prime brokerage accounts, we are seeing far more appetite for directional risk by EMEA equity managers compared to their US peers.

Related Research and Data