Och-Ziff Capital Management Group
Och-Ziff's Main Fund Down
Below is a new addition to our Hedge Fund Tracker Notes on Och Ziff Capital Management Group.
Och-Ziff Capital Management Group said yesterday that its main OZ Master Fund lost 5.35% last month, leaving it down 5.74% so far this year. Och-Ziff has managed to avoid big losses for most of this year, helped by Chief Executive Dan Och's risk-averse strategy. However, the hedge fund firm couldn't side-step the broader market turmoil in September, when Lehman collapsed in the biggest bankruptcy in U.S. history and Washington Mutual became the largest bank failure ever.
The firm's other funds were also hit. The OZ Europe Master Fund dropped 7.3%, leaving it off 8.51% in 2008. The OZ Asia Master Fund shed 7.56% and has slumped 16.9% so far this year, according to a regulatory filing by Och-Ziff. The firm's OZ Global Special Investments Master Fund lost 2.63% in September, leaving it off 2.89% this year. Source.