Asian hedge funds focused on investing in China posted sharp gains in October and reversed steep drops earlier in the third quarter, according to data from Hedge Fund Research’s latest Asian Hedge Fund Industry Report. The HFRI China Index rose +5.2% in October, which was the strongest monthly performance since the index gained +14.1% in April. However, assets fell sharply - capital invested in Asian-focused hedge funds fell to $8.7 billion to $117.5 billion during the third quarter, the largest quarterly asset drop since the fourth quarter of 2008. HFR noted that investor withdrawals during the quarter totaled just under...