Thursday, 24 July 2014
Last updated 3 hours ago
Apr 4 2011 | 1:24pm ET
Two of the very few U.S. hedge funds to publicly report their returns went in different directions last month.
Och-Ziff Capital Management said that all four of its funds posted gains last month, while Greenlight Capital suffered a 2% loss on the month. Third Point, which does not publicly report its returns, also saw gains across the board in March.
Och-Ziff reported in a Securities and Exchange Commission filing that its flagship returned 0.48% last month and is up 3.36% in the first quarter. That was topped by its Global Special Investments fund, which returned 0.59% in March and 4.62% in the quarter. Och-Ziff's Asia and Europe funds returned 0.4% and 0.36%, respectively.
The firm also said its assets under management rose to $29 billion on the month.
New York-based Third Point had an even better month (and is having a much better year). The firm's funds rose between 0.8% and 1.2% in March, Dealbreaker.com reports; its flagship Offshore fund was up 0.9% last month and 8.6% year-to-date, while its Ultra fund added 1.2% on the month and is up 11.7% on the year.
Greenlight, whose returns are reported by reinsurer Greenlight Capital Re, which invests its premiums with the hedge fund, was not so lucky. It suffered a 2% drop in March, and lost 3.4% in the first quarter.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…