Thu, Mar 22, 2018
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


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. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t

  3. Institutional Investors - Overdrawn pension fund scores gains[more]

    From Investments in big banks, pawn shops and rolling papers helped boost public safety workers' underfunded pensions this past calendar years, according to newly released figures. After recording middling returns in recent years, the Police & Fire Pension Fund (P&F) notched

  4. Hot hedge fund loses 21% after bet on volatility goes wrong[more]

    From In December, Shahraab Ahmad shared with his hedge fund clients the principle that helped him trounce peers for two turbulent decades: steer clear of the crowd. He'd turned $50 million into an operation with more than $700 million over three years and delivered market-beating retu

  5. Opalesque Exclusive: Northern Trust builds on blockchain-backed private equity solution[more]

    Bailey McCann, Opalesque New York: Private equity clients at Northern Trust can now carry out audits of private equity lifecycle events directly from the blockchain. Northern Trust, working with PwC and other audit firms in Guernsey, has added this feature to its existing solution set for private