Monday, 20 October 2014
Last updated 1 hour ago
May 2 2014 | 12:22pm ET
Och-Ziff Capital Management’s first-quarter profit fell 7% on higher compensation costs and lower hedge fund performance, the firm said.
New York-based Och-Ziff's distributable earnings fell to $127.8 million from $136.9 million in the first quarter of last year. Net income dipped to $23.9 million from $30 million.
Och-Ziff’s funds all lost ground in the first four months of the year. Its flagship OZ Master Fund is down 0.93% through April, its OZ Europe Master Fund 1.33% and OZ Asia Master Fund 9.18%. Consequently, incentive fee income fell by 40% on the quarter, to $59 million.
But assets under management continued to grow, with $3.6 billion in inflows through April. Och-Ziff now manages $43.5 billion.
The lower results were still good enough to easily top analysts’ estimates.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...