Hedge Fund Focus: January 6, 2017

Ryan FitzGibbon  Follow

  • As we kicked off the New Year this week, we saw lots of figures start to trickle in about how the industry faired last year. Unfortunately, on the whole it looks like it will end up being a mixed year. According to Bank of America Merrill Lynch, the industry significantly lagged the S&P 500 for the year; the benchmark was up 9.54 percent for the year whereas the industry on average brought in 3.34 percent. Besides BofA’s findings, here are the other figures you should be aware of:
  • Leon Cooperman and Och-Ziff both found themselves back in the headlines this week for similar problems – AUM losses despite decent performance. As a result of SEC insider trading allegations, Leon Cooperman’s Omega Advisors lost 27 percent of its AUM in December alone. In total, the firm’s assets were halved last year as a result of the issues. As for Och-Ziff, the firm had sound returns in its multi-strategy fund but lost about 27 percent of its AUM last year, with $3.6B in outflows solely in December. All was due to a Federal bribery scandal

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