Hedge Fund Monthly Update September 2014 (UBS)

October 2014

KEYWORDS: Trading, regulatory, stock, Volatility, Hedge Fund Research, global macro, commodities, hedge funds, Equity Long Short, CTA, Emerging Markets



  • UBS


This month’s highlights include:
– Average Hedge Fund in September +0.4%, +3.1% YTD (MSCI World -2.7%; +3.9% YTD).
– UBS PB Long Book: Deal activity and BABA IPO boost Health Care and Info Tech exposure.
– UBS Short book: Health Care (deal activity) and Consumer Discretionary see increases.
– Large Gains for Global Macro (+2.6%) as USD surges, and popular currency shorts provide profits.
– Brazil moves into focus: hedge funds short on increased likelihood of Dilma staying in power (Bovespa -11.7%; USDBRL +9.5% in Sept).
– Commodities plunge on strong USD and weak fundamentals (Bloomberg Comm. Index -6.2%), providing gains to hedge funds..

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