Och-Ziff Assets Drop As Funds Rise In June

Jul 2 2009 | 12:16pm ET

Och-Ziff Capital Management, which finally reversed the decline in its assets under management in May, gave back almost all of that gain in June.

The New York-based hedge fund giant said that its assets under management fell $800 million to $20.7 billion. The firm had seen its assets rise by $900 million in May after shedding $600 million in the first four months of the year. Och-Ziff investors yanked some $5.5 billion—almost one-fifth of its assets—in December.

On the bright side, the firm’s funds enjoyed positive performance in June. Its flagship OZ Master Fund is up 12% on the year after adding another 2.2% last month. Its European Master Fund is up 6.9% in the first half following a 1.1% June jump, and its Asia Master Fund added 0.7% last month and is up 13% on the year.

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