UBS: Hedge Funds Short Alibaba Group (BABA) In Droves

The surging U.S. Dollar has benefited global macro hedge funds and managed futures commodity trading advisers (CTAs), notes UBS prime brokerage in its September hedge fund report, while the largest directional stock bets, both long and short, were found in Health Care. Equity long short funds were up 0.2 percent in September and the relative value strategy is up 1.5 percent year to date. The worst performers in September were emerging market hedge funds, which were down -1.8 percent in the month and are up 1.3 percent on the year.  Event driven hedge funds were down -1.3 percent on the…