Opalesque Industry Update - Hedge funds started 2021 on a positive note returning 0.98% in January, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P 500 Total Return Index was down 1.01% in January. Gainers outnumbered losers in January among the sectors tracked in the Barclay Hedge Fund Indices, despite challenging news on both the economic and the COVID-19 pandemic fronts during the month. "Most hedge funds sectors performed solidly during a complicated month," said Sol Waksman, president of BarclayHedge. "Equity markets reached record highs before tailing off late in the month with the S&P 500 experiencing its worst week since October. Meanwhile, COVID cases surged once again, leading to a U.K. lockdown and a downturn in U.S. employment. Despite the negatives, the hedge fund industry managed to produce a positive month in January."