Hedge Funds Performance

Strong fund returns not enough to help Och-Ziff stock

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Och-Ziff Capital Management enjoyed strong returns from its four main hedge funds in the second quarter, but the firm’s stock holders aren’t sharing in that wealth. The hedge fund firm reported a second-quarter loss of $88.3 million which it attributed to a decrease in management fees and money set aside for bonuses.

Och-Ziff investors will receive distributable earnings of three cents a share, half of what analysts had predicted. The firm says the lower earnings were due to $25.4 million it had to set aside for bonuses and that lower management fees also took a toll on second-quarter