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Opalesque Exclusive: Och Ziff's unaudited returns from April show minor gains, CEO believes hedge fund industry at beginning of secular growth cycle Kirsten Bischoff, Opalesque New York: Och Ziff, which had its IPO in November of 2007, addressed investors in a quarterly update this past Wednesday reporting a net loss for the first quarter of 2008. During that call, the only reference to April's returns - which at that point had not yet been disclosed - was David Och's comment, "As a firm we are satisfied with our results." On Friday, the following April unaudited return information became available: Source.

• OZ Master Fund +0.98%
• OZ Europe Master Fund +0.34%
• OZ Asia Master Fund -0.14%
• OZ Global Special Investments Master Fund +0.60%

Och Ziff, which reported its assets under management to be $33.3 bln, reflected no growth for Q1 2008 (2007 year end assets were $33.4 bln). In Wednesday's call CEO Daniel Och informed listeners that the focus and the main success for Q1 2008 was the preservation of investor capital.

Citing a broad investor pull back and one not reflective of any specific industry or investor group, Och discussed the current hedge fund industry environment, "We believe the lower net inflows are affecting the hedge fund industry globally. As the capita......................

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