APS Asset Management has disclosed sharp losses in two of its China-focused hedge funds for September. The firm’s $2 billion long-only China A-Share Fund was down 6.7% for the month through September 25, as Chinese equities plummeted to post their worst quarterly drop in more than seven years. The Shanghai Composite Index declined 3.5% over the same period. Year-to-date, the fund has fared better, up 3.1% versus the index’s 4.4% decline, according to Bloomberg citing an email from the company. APS’s $79 million Greater China Long/Short Fund, meanwhile, dropped 2.9% in the period, and remains up 24% for the year...