There’s also some good news for hard-pressed hedge funds buried in that report. The average Asian family office allocated only 5% of assets to hedge funds in 2014, compared to 8% for family offices globally. But since China’s domestic stock market upended this spring and summer, Asia’s wealthiest investors are looking for hedge strategies that could serve as ballast in their portfolios. Francis Liu, regional manager for ultra-high-net worth Greater China at UBS Wealth Management, says he is seeing a notable “shift into the hedge fund space.” Written with Barron’s wit and often contrarian perspective, Penta provides the affluent with...