Median returns steady but lag indices after a volatile month

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Long/short Asia equity-focused managers delivered a relatively subdued performance in October despite a significant rebound in some key markets such as China.

The group, as a whole, posted a marginally positive median return of 48bps, a performance that was less than a third of the median gain posted in September but better than the 36bps loss recorded by the MSCI Pacific Free Net, the relevant benchmark, during the month.

Managers focused on Chinese equity delivered the best median return during the month at 2.14%, but the MSCI China benchmark had an even more robust