Sat, Jul 23, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Och Ziff assets under management rise, funds' performance trails markets

Tuesday, August 03, 2010
Opalesque Industry Update - Och-Ziff Capital Management Group LLC (NYSE: OZM) (the "Company" or "Och-Ziff") reported a GAAP Net Loss(1) of $89.4 million, or $1.05 per basic and diluted Class A Share, for the second quarter ended June 30, 2010. The Company also declared a $0.11 per share 2010 second quarter cash dividend on its Class A Shares.

Summary Highlights

Distributable Earnings of $57.0 million, or $0.14 per Adjusted Class A Share, for the 2010 second quarter compared to $12.6 million, or $0.03 per Adjusted Class A Share, for the 2009 second quarter

Assets under management of $25.3 billion as of July 1, 2010, unchanged from April 1, 2010 and up from $20.7 billion as of July 1, 2009

Estimated assets under management of $25.9 billion on August 1, 2010, reflecting year-to-date capital net inflows of $2.2 billion and performance-related appreciation of $600 million

Year-to-date estimated net returns through July 31, 2010 of the OZ Master Fund of 2.8%, the OZ Europe Master Fund of 2.6%, the OZ Asia Master Fund of 3.6% and the OZ Global Special Investments Master Fund of 5.0%

"The value of our investment process, our multi-strategy model and our international capabilities was again readily apparent as we generated strong risk-adjusted returns for our fund investors during the second quarter and in July," said Daniel Och, Chairman and Chief Executive Officer of Och-Ziff. "Our performance demonstrates the benefits of our active risk management process, investment portfolio diversity and consistently low use of leverage.

"We remain confident that the long-term, secular growth drivers of assets under management remain intact for the hedge fund industry. Despite recent market volatility, we believe the capital allocation cycle is underway and confidence among institutional investors in this sector remains strong. We believe that our investment track record and the institutional structure of our business continue to differentiate us in the marketplace, increasing our ability to gain market share and grow assets under management over time." Full press release: Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New