With all of its hedge funds in negative territory this year, Och-Ziff Capital Management’s assets under management have fallen by almost $1 billion.

The New York firm’s assets dropped by $774 million in March, leaving it with $32.8 billion, Financial News reports. Last year, Och-Ziff’s assets soared by almost 50%.

The firm’s flagship fund is down 0.8% this year after a 0.69% decline last month. Its Global Special Investments Master Fund did somewhat better, falling by only 0.45% in March and 0.6% year-to-date. The firm’s Asia Master Fund did quite a bit worse, losing 2.38% last month, leaving it down 2.58% in 2008.