Disclosures.Global macro might be the most paradoxical hedge fund strategy. Futures Commission Merchant (FCM) Information for UBS Financial Services Inc. Statement of Financial Condition- UBS FSI of Puerto Rico (PDF). Commodity Futures Trading Commission (CFTC) and offers brokerage services related to the execution and clearing of on-exchange futures and options on futures products. is also registered as a Futures Commission Merchant (FCM) with the U.S. Wealth management services in the United States are provided by UBS Financial Services Inc., a registered investment advisor and broker-dealer offering securities, trading, brokerage and related products and services. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS. Please consult the sales restrictions relating to the service in question for further information. Products and services mentioned on these web pages may not be available for residents of certain nations. For more information, please review client relationship summary provided at, or ask your UBS Financial Advisor for a copy. It is important that you understand the ways in which we conduct business, and that you carefully read the agreements and disclosures that we provide to you about the products or services we offer. Investment advisory services and brokerage services are separate and distinct, differ in material ways and are governed by different laws and separate arrangements. offers investment advisory services in its capacity as an SEC-registered investment adviser and brokerage services in its capacity as an SEC-registered broker-dealer. Legal Information Important information about brokerage and advisory services.Īs a firm providing wealth management services to clients, UBS Financial Services Inc. Original report - Can alternatives help navigate macro uncertainty?, 12 June 2023. Main contributors - Matthew Carter, Alison ParumsĬontent is a product of the Chief Investment Office (CIO). With uncertainty and macro risks likely to stay elevated, we recommend investors look to alternatives to bolster and diversify portfolio returns. Private lenders’ greater control over setting underwriting standards can help reduce default risk.
Compared to most fixed income strategies, private debt investors benefit from variable interest rates, a high level of control, and lower volatility.Between 20, global private equity returned 13.8%annually, versus 7.1% in publicly traded global equities. Private market investments can provide attractive absolute risk-adjusted returns over the long term.Investors need to be willing and able to lock up capital for longer. Both hedge funds and private markets come with certain drawbacks, including the risk of an illiquid market.Private equity offers exposure to fast-growing and innovative businesses, while value-oriented buyout strategies and secondaries should continue to gain traction.Private debt can help long-term goals amid higher yields, strict underwriting standards, and an expanding market as banks tighten credit.Private infrastructure and real estate exhibit long-term “inflation-hedging” characteristics.Private market investments can help hedge inflation, manage rates uncertainty, and grow long-term wealth. We like strategies including macro, low net equity long/short, multi-strategy, sustainable investment, and credit long/short.Over the past 25 years, hedge funds (HFRI Fund Weighted Index) made net-of-fees returns of 6–7%, in line with global equities (MSCI World TR) but with half the volatility.Hedge funds have historically performed well in a high rate environment, with an 8.5% annual return between 20.Hedge funds can generate alpha and help boost returns in a risk-adjusted manner. Long-term trends around demographics, deglobalization, and decarbonization may require investors to be more selective.Uncertainty around the path for rates, growth, and profits has led to range-bound equity markets and pockets of volatility.Developed market inflation is off its highs, but core rates remain above central bank targets.Uncertainty and macro risks are likely to stay elevated. Meanwhile, private market secondaries and distressed strategies could be well-positioned to buy assets at attractive valuations.
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