Och Ziff Capital Management Group | Hedge Fund Notes

Och Ziff Capital

Och Ziff Capital Management Group

Och Ziff Capital Management GroupThe following piece on Och Ziff Capital Management Group is being published as part of our daily effort to track hedge funds in the industry. To review other hedge fund research notes please see our Hedge Fund Tracker Tool.

Resource #1: (5.19.09) Daniel Och had about 35 percent of his $20 billion of hedge-fund assets in cash during the first quarter because he suspects global stock markets will start falling again.

“The world will not just bounce back to where it was,” Och, the 48-year-old chief executive officer of New York-based Och-Ziff Capital Management Group LLC, wrote last month in a letter to investors, referring to the gain of almost 35 percent in the Standard & Poor’s 500 Index since March 9. “We continue to believe that economic recovery will be a long process.”

OZ Master, Och-Ziff’s biggest hedge fund, rose 6.3 percent this year through April after losing 15.5 percent last year. The S&P 500 fell 3.4 percent in the first four months of 2009 after dropping 38 percent in 2008. source

Resource #2: (4.3.09) Och-Ziff Capital Management Group's main hedge fund returned more than 4% in the first quarter, recovering from losses of more than 15% last year, according to a regulatory filing Thursday.

The OZ Master Fund Ltd. gained 0.9% in March after fees and expenses. That left it up 4.38% during the first quarter. In contrast, the Standard & Poor's 500 index lost 12% in the first three months of 2009.

Och-Ziff's European, Asian and Global Special Investments funds also generated gains in March and during the first quarter. source

Resource #3 (2.4.09) It was the worst January ever for the stock markets — but it turned out pretty well for Och-Ziff Capital Management.

The hedge-fund firm run by Daniel Och notched gains in each of its four funds last month, which is especially good news for the firm after the less-than-stellar year it had in 2008. source

Resource #4: (12.9.08) Och-Ziff Capital Management Group LLC, the New York-based hedge-fund manager that went public last year, eliminated at least 10 jobs in Asia, including partner Raaj Shah, said two people familiar with the matter.

The cuts made last week, out of a global workforce of about 460, included employees in the firm’s credit and distressed- investment units, said the people, who asked not to be identified because the information wasn’t publicly announced.

“We have made some minor reductions in Asia, and we remain committed to the region,” the company said today in an e-mailed statement. Hong Kong-based Shah referred calls to the company. source

Resource #5: (11.5.08) Och-Ziff Capital Management, a listed hedge fund, yesterday predicted more pain for the industry as redemptions continue. The cautious outlook came as the company reported a third-quarter loss of $69m and a drop in assets under management to $28.3bn as of November 1, down from $30.5bn a month earlier.

That performance was better than many of its peers. But in a conference call with investors Och-Ziff executives said that while the group will benefit from a long-term trend toward consolidation in the hedge fund industry, it will be unable to escape the tumult in the industry for the near term. Source

Resource #6 (10.10.08) 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.

Additional Resources:

Article about Och Ziff, stating how the funds stock is down in August due to the OZ Master Fund poor performance. “Och-Ziff funds lost 0.91% in August, while the Standard & Poor's 500 index climbed 1.22%,” an analyst noted.

Short article about Och Ziff issuing cash dividends to any shareholder of a Class A Share. The amount will not be announced to the fourth quarter of 2008.

Article about the Telkom South Africa deal with Och Ziff being put on hold due to the market instabilities that have been occurring. As of now, there will be no talking between Telkom and Och Ziff until the market stabilizes.

Article about Kolter and Och Ziff planning on investing $1 dollars in equity and debt, in southeast, in residential communities. The two companies decided to invest due to the declining housing market. Och Ziff thinks the investment is a good opportunity because housing prices will rise in the near future.

Article about Och-Ziff and Blue Source’s project to lower greenhouse gases. Och-Ziff contributed $500 million for new greenhouse gas reduction projects. The projects are going to be managed by Blue Source.

Article about Hedge funds, in general, performing extremely low this year. So far, Och-Ziff Capital Management is at fifth place, with $33.3 billion for largest hedge funds.

PDF about Och Ziff’s funds: Master Fund, Europe Fund, Asia Master, and Global special investments fund. Each fund has a projected negative return for September

PDF about Och Ziff’s funds: Master Fund, Europe Fund, Asia Master, and Global special investments fund. Each fund has a projected negative return for August.

PDF about Och Ziff press release. Assets under management, of this second quarter, are unchanged, at 33.6 billion, from March 31, 2008. Economic income revenues for Orch Ziff are 23% higher than 2007 second quarter.

A list that shows potential mergers and acquisitions of companies. Och Ziff is a target company, meaning Och Ziff is being targeted for a takeover by Dubai Intl.

A Due Diligence PDF from the SEC on Och Ziff. The biggest risk factor with purchasing a class A share that will pay cash dividends, is the beta of the stock is high. The stock has a high beta because the company usually only does well when the market is doing well.

Most important article, as of now, short selling is banned for 800 stocks by the SEC to protect the economy. The SEC believes part of the market decline is due to the hedge funds short selling stocks viciously.

Extended article on the Kolter- Och Ziff agreement to acquire assets for residential homes. The two companies plan on acquiring $1 dollars of assets.

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