Hedge funds' assets off $210 billion in third quarter Poor returns spur record $31 billion redemptions, industry researcher says By Alistair Barr, MarketWatch Last update: 11:36 a.m. EDT Oct. 17, 2008 Comments: 46 SAN FRANCISCO (MarketWatch) -- Hedge funds saw a record $210 billion drop in assets under management during the third quarter as investors redeemed an unprecedented amount of money from the industry after poor performance, according to a survey released Friday. "With losses continuing through October, it appears that 2008 will be the worst year on record for both hedge-fund performance and industry asset flows," said Kenneth Heinz,...