Hedge Funds up 0.98 per cent in January, says Backstop BarclayHedge Submitted 18/02/2021 - 9:47am Hedge funds started 2021 on a positive note returning 0.98 per cent 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 per cent 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.