Och-Ziff Capital Management Group LLC (OZM) - NYSE
  • Tue, Jul. 26, 11:22 AM
    • In the largest monthly withdrawal since eVestment began tracking flows in 2009, investors pulled $20.7B from hedge funds in June. Don't blame the Brexit, as bailing out of hedge funds takes significantly longer than logging into one's E*Trade account to hit the sell button.
    • Outflows are more likely the continuing of a trend out of active management and into passive.
    • There's also performance-chasing: The 10 long/short equity funds with the largest outflows returned an average of -8.27% YTD, while those with the largest inflows returned an average of positive 4.55%.
    • OZM flat on today's session, but down about 70% Y/Y.
    | Tue, Jul. 26, 11:22 AM | 7 Comments
  • Tue, Jul. 12, 10:04 AM
    | Tue, Jul. 12, 10:04 AM | 3 Comments
  • Mon, Jul. 11, 9:41 AM
    • Troubles in hedge-fund land have meant troubles for Fortress Investment (NYSE:FIG) and Och-Ziff Capital (NYSE:OZM). FIG is down 39% Y/Y, and OZM by 72%.
    • KBW moves on, downgrading both to Market Perform from Outperform.
    • FIG is lower by 0.7% today, and OZM by 4.9%.
    | Mon, Jul. 11, 9:41 AM | 1 Comment
  • Tue, Jul. 5, 2:45 PM
    • AUM fell 7.5% to $39.2B in June. For the entire quarter, AUM fell 6.7%, and for all of H1, they fell 12.1%.
    • Performance: All three of Och-Ziff's (OZM -5.3%) flagship funds turned in negative returns in Q2.
    | Tue, Jul. 5, 2:45 PM | 4 Comments
  • Tue, Jun. 28, 10:01 AM
    • The team throws in the towel on Buy calls on WisdomTree (NASDAQ:WETF) and Och-Ziff Capital (NYSE:OZM), with downgrades to Neutral. Artisan Partners Asset Management (NYSE:APAM) is cut to Underperform from Neutral.
    | Tue, Jun. 28, 10:01 AM
  • Thu, May 26, 8:51 AM
    • The $2.9T industry could lose about 25% of its assets in the next year thanks to continuing underperformance, says Blackstone (NYSE:BX) President Tony James.
    • For its part, Blackstone is the world's largest allocator to hedge funds, provides startup money to managers, and takes equity stakes in hedge funds. While performance is a concern within Blackstone, James says results in its hedge fund businesses are topping the industry average.
    • Hedge fund underperformance is likely the result of the sustained bull market, says James, as many hedged funds are just that ... hedged.
    • As for '2 and 20,' it's "hard to justify these days," he says.
    • Interested parties include: OZM, CG, FIG
    | Thu, May 26, 8:51 AM | 20 Comments
  • Tue, May 3, 7:49 AM
    • Q1 distributable earnings, ex-item, of $57.5M or $0.11 per share v.s $126.7M and $0.25 one year ago.
    • AUM of $43.2B falls from $48.3B, with multi-strategy funds AUM of $27.B down from $33.9B. AUM has fallen further to an estimated $42B as of May 1.
    • CEO Dan Och: "The global markets have been challenging to date, but this is not the first time we have navigated an environment like this."
    • Conference call at 8:30 ET
    • Previously: Och-Ziff Capital Management misses by $0.02, misses on revenue (May 3)
    • OZM flat premarket
    | Tue, May 3, 7:49 AM
  • Tue, May 3, 7:33 AM
    • Och-Ziff Capital Management (NYSE:OZM): Q1 EPS of $0.11 misses by $0.02.
    • Revenue of $175.54M (-23.5% Y/Y) misses by $0.86M.
    • Press Release
    | Tue, May 3, 7:33 AM
  • Mon, May 2, 5:30 PM
  • Thu, Apr. 14, 1:12 PM
    • The $51B Employees Retirement System [NICERS] follows the trend of a number of other institutions, voting to exit its $1.5B portfolio of hedge fund investments and shifting the money to lower-cost (and likely/hopefully) better-performing vehicles.
    • Among those hedge funds losing assets in the deal will be D.E. Shaw, Brevan Howard, and Perry Capital. NYCER's hedge fund portfolio lost 1.88% last year, lagging both the S&P 500 and Barclays U.S. Aggregate Bond Index.
    • “I have seen little evidence of either," says NYC Public Advocate Tish James, noting the fund got into hedge funds in the hope of boosting returns and decreasing risk.
    • Not mentioned in those losing money, but a publicly-traded way to play the fate of the hedge fund industry is Och-Ziff Capital (OZM +1.4%). It's lower by 71% Y/Y.
    • Now read: Och-Ziff Is On The Sidelines Until Investigations Are Complete 
    | Thu, Apr. 14, 1:12 PM
  • Tue, Apr. 12, 12:45 PM
    | Tue, Apr. 12, 12:45 PM | 5 Comments
  • Tue, Apr. 12, 9:12 AM
    | Tue, Apr. 12, 9:12 AM
  • Wed, Mar. 30, 2:50 PM
    • “Why do I need you," asked Marc Levine, chairman of the $16B Illinois State Board of Investment, during a meeting about hedge funds. Two days after that meeting, the board agreed to pull $1B from hedge funds in favor of P-E and low-cost stock funds.
    • Source: WSJ
    • Pension funds, insurers, and endowments helped drive hedge fund AUM to $3T over the last decade, but results have been lame for most of that time, and some - particularly those who are politically accountable - are wondering why they should be paying such high fees.
    • The fourth quarter of 2015 saw hedge funds suffer net outflows for the first time in four years, and another $15.3B was pulled in 2016's first two months.
    • Not only do hedge funds have to answer for poor performance combined with high fees, but their strategies can now be run for a fraction of the cost, with some competitors charging as little as 1% of AUM and no cut of profits vs. the industry's typical "2 and 20."
    • Northern Trust (NASDAQ:NTRS), for example, charges a management fee of less than 1% for a new "engineered equity" product it says is similar to a hedge fund.
    • Watching with interest: Och-Ziff Capital (NYSE:OZM)
    | Wed, Mar. 30, 2:50 PM | 3 Comments
  • Fri, Feb. 12, 12:48 PM
    | Fri, Feb. 12, 12:48 PM | 6 Comments
  • Thu, Feb. 11, 10:05 AM
    • Q4 distributable loss of $36.1M or $0.07 per share vs. earnings of $255.4M and $0.50 one year ago. Full-year distributable earnings of $251.9M or $0.49 per share vs. $590.3M and $1.16 in 2014.
    • CEO Dan Och: "2016 has gotten off to a challenging start."
    • End-of-year AUM of $45.5B vs. $47.5B a year ago, with outflows of $1.2B and distributions of $900M. AUM fell further to an estimated $43.7B as of Feb. 1.
    • AUM at Multi-strategy funds fell 13% to $29.5B Y/Y. The OZ Master Fund - the largest of the group - had a net return of -0.4% for the year.
    • There will be no Q4 dividend.
    • Previously: Och-Ziff Capital Management misses by $0.07, misses on revenue (Feb. 11)
    • OZM -15.2%
    | Thu, Feb. 11, 10:05 AM | 8 Comments
  • Thu, Feb. 11, 7:32 AM
    • Och-Ziff Capital Management (NYSE:OZM): Q4 EPS of -$0.07 misses by $0.07.
    • Revenue of $218.4M (-63.1% Y/Y) misses by $17.52M.
    • Press Release
    | Thu, Feb. 11, 7:32 AM | 4 Comments
Company Description
Och-Ziff Capital Management Group LLC operates as an institutional alternative asset manager. It provides asset management services through its funds, which pursue a broad range of global investment opportunities, and by developing new, carefully considered investment products. The company also... More
Sector: Financial
Industry: Asset Management
Country: United States