China-focused hedge strategies posted the strongest gains last month, largely due to rebounding equity markets, as Japan funds continue to shine.
Poor performance in the third quarter drags down regional hedge fund assets, according to the latest data.
August saw the sector record its worst monthly stats so far this year, further clouding a weak performance in 2011. But research house HFR sees some cause for optimism.
Fewer launches from Asia puts the region behind the global growth rate.