Pivotal Point of View — January 2021

Published 12 February 2021 · Covers January 2021

Originally issued as January 2021.

PivotalPath’s Hedge Fund Composite Index started the year up +0.3% while the S&P was down -1.0%. 55% of funds reported positive numbers, with the median fund returning +0.4%. January marks the 1st month since March 2020 that Equity Sector funds exhibited negative returns, primarily dragged down by TMT (-2.3%).

+0.2%Composite, January

+0.2%Composite, year to date

+3.7%Composite, Q1

CreditLeading strategy

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Headline strategy indices

Strategy	January	Year to date
Credit	+2.0%	+2.0%
Event Driven	+1.4%	+1.4%
Multi-Strategy	+1.3%	+1.3%
Global Macro	+0.3%	+0.3%
Volatility Trading	−0.5%	−0.5%
Equity Diversified	−1.0%	−1.0%
Managed Futures	−1.1%	−1.1%
Equity Sector	−1.5%	−1.5%
Equity Quant	−1.5%	−1.5%

Net of fees, in USD. The Composite plus the nine headline indices with a published monthly series; ordered by month return.

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Pivotal Point of View — January 2021

Headline strategy indices

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