Och-Ziff Capital Management Group’s assets under management were USD20.7bn as of 1 July 2009, two per cent higher than 1 April 2009 but 38 per cent lower than 1 July 2008.
Och-Ziff Capital Management Group’s assets under management were USD20.7bn as of 1 July 2009, two per cent higher than 1 April 2009 but 38 per cent lower than 1 July 2008.
Distributable earnings were USD12.6m, or USD0.03 per adjusted class A share for the 2009 second quarter.
Year-to-date net returns through 30 June 2009 for the OZ Master Fund were 12.3 per cent, for the OZ Europe Master Fund 7.0 per cent, for the OZ Asia Master Fund 13.2 per cent and for the OZ Global Special Investments Master Fund 3.6 per cent.
The company has declared a USD0.02 per share second quarter cash dividend on its class A shares.
‘We continued to deliver strong, absolute returns for the second quarter and we extended that trend in the month of July,’ says Daniel Och, chairman and chief executive officer of Och-Ziff.
‘The ongoing strength of our returns results from our disciplined risk management and investment process, and also demonstrates the benefits of our multi-strategy approach. We have a long history of positive investment performance because we are able to capitalize on opportunities in any market globally, rather than being dependent on large directional moves in the markets or a particular sector. As a result, we are well positioned to generate strong, risk-adjusted returns over the coming years.
‘We also believe that the current redemption cycle is largely over, although there may be some level of additional redemptions as it continues to taper off. After the events of the past year, investors more than ever understand the importance of manager selection and that there is a significant differentiation among alternative asset managers. We remain confident that, as investors begin to re-allocate capital to alternative investments, we are well positioned to attract that flow and grow assets under management.’
