Och-Ziff Fund Assets Rise by $200 Million in August
Holdings increased to $26.1 billion as of Sept. 1 from $25.9 billion the prior month, the firm said in a filing today with the U.S. Securities and Exchange Commission. The OZ Master Fund, Och-Ziff’s main fund, was little changed, maintaining a gain of 3 percent this year.
The firm’s funds held their value as the Standard & Poor’s 500 Index fell 4.7 percent for the biggest August slump in nine years. During the month, the U.S. government said the economy grew less than previously forecast in the second quarter, home sales in July plunged by the most in more than a decade and weekly jobless claims were the highest since November.
Och-Ziff’s Asia Master fund was little changed in August with a year-to-date gain of 3.7 percent. The Europe Master Fund rose 1 percent last month for a 3.2 percent increase this year, according to the filing.
The firm was started in 1994 by former Goldman Sachs Group Inc. trader Och, 49, and Ziff Brothers Investments LLC with money from the Ziff media empire. Source