Och-Ziff Capital Reports Gains & Future Plans
|November 6th, 2010||
|Contributed by: Emerging Manager Focus|
|Och-Ziff Capital Management Group gave a glimpse into its investment progression Tuesday when hedge fund manager Daniel Och revealed that the fund will push its, “investment track record, transparency and infrastructure as the key drivers to furthering our competitive differentiation over time.”|
On Tuesday the company reported that its quarterly distributable earnings increased from $34.2 million in the period a year earlier, to $52.1 million for the 2010 third quarter. “During the third quarter and in the month of October, we again generated positive, risk-adjusted returns,” said Daniel Och, Chairman and Chief Executive Office of Och-Ziff. “The investment environment has improved relative to the first half of 2010, and we saw new opportunities in many of our strategies to which we have deployed capital.”
The company also revealed that it will focus on manager selection, saying, “We remain confident that capital allocations to alternative asset managers will be significant, but think that the environment has further reinforced the importance of manager selection.”
Och-Ziff’s main fund, the OZ Master Fund, increased by 26 % year on year. The OZ Asia Master Fund also increased by 7% year on year, while the OZ Europe Master Fund remained unchanged. The OZ Global Special Investments Master Fund was down 40% year on year.
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