The hedge fund industry had a downbeat start to the new year losing 0.18% 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 more or less break-even with a 0.04% loss in January. Mixed economic indicators worldwide joined with global events during the month to stunt returns for many hedge fund sectors, resulting in a reversal from December’s 1.73% industry-wide return.