BOSTON (Reuters) – Investors pulled $2.9 billion out of Och-Ziff Capital Management in the last four months but strong returns may prompt a rethink among clients in the future, the hedge fund company’s chief executive said on Wednesday.
“We believe that our multi-strategy (fund) flows will be driven by how we perform,” Daniel Och said on an earnings call after the company reported that its flagship OZ Master Fund surged 8.8 percent in the first seven months of 2017.
The average multi-strategy fund rose roughly 3 percent in the first half, according to Hedge Fund Research data.
On Aug. 1, Och-Ziff managed $32 billion in assets. That’s down from $33.2 billion at the end of the second quarter and $42 billion at the end of the second quarter of 2016.