Tuesday, 31 May 2016
Last updated 3 days ago
Dec 5 2007 | 7:55am ET
Even the highest-flying hedge funds have been hit by November’s carnage: A pair of Och-Ziff Capital Management funds, up by double-digits this year, registered a slight loss last month.
The declines are nothing compared to what the average hedge fund suffered—early figures put the drop between 2.4% to 3%. But the Och-Ziff Master Fund fell 0.29% in November, while its Europe Master Fund lost 0.56%. Luckily for Och-Ziff’s clients, the declines barely put a dent in their year-to-date returns, the two funds are up 10.77% and 13.34% year-to-date, Financial News reports.
In other good news for the firm, its Global Special Investments Master Fund gained 2.04% last month, and is up 16.56% on the year.
Worse for the firm, its stock price—Och-Ziff went public last month—is doing even worse than hedge funds. It’s down by more than a third since its initial public offering.