Och-Ziff Tops Earnings Estimates, Assets Fall

Nov 4 2008 | 9:32am ET

Amidst all the awful news for hedge funds, Och-Ziff Capital Management offers a positive story.

The New York hedge fund firm said today that its third-quarter net loss had narrowed to $69.4 million. In the year-earlier period, the firm, which went public last year, lost $339.9 million.

Och-Ziff also enjoyed better distributable earnings than expected: That widely-watched number stood at 14 cents per share, a penny better than analysts’ estimates. The firm also posted higher revenue, $157 million, up from $147 million a year ago.

The numbers weren’t all so rosy for Och-Ziff. The firm’s assets under management fell by 7% during the third quarter. Its AUM is still up 4% since the third quarter of 2007.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of