Tuesday, 30 September 2014
Last updated 1 hour ago
Aug 3 2010 | 12:47pm ET
Och-Ziff Capital Management said that its second-quarter loss widened slightly, but that its distributable profits increased more than fourfold as assets under management rose.
The New York-based hedge fund giant’s quarterly loss was $89.4 million, up from $88.3 million a year earlier. But the firm took charges of $411.8 million related to its initial public offering three years ago, so its distributable earnings—which exclude those charges—rose to $57 million from $12.6 million, easily topping analysts’ expectations.
The firm said that client inflows totaled $1 billion during the quarter; performance losses—the firm’s flagship OZ Master Fund dropped 1.37% during the quarter—were $388.2 million, leaving the firm with $25.3 billion in assets at the beginning of July. Since then, the firm’s assets have grown a further $400 million, thanks in part to a 1.46% return in the Master fund.
Through July, the Master fund is up 2.8%, while Och-Ziff’s Global Special Investments fund is up 5%, its Asia fund 3.6% and its Europe fund 2.6%.
“We remain confident that the long-term, secular growth drivers of assets under management remain intact for the hedge fund industry,” firm founder Daniel Och said.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.