Hedge fund manager Och-Ziff Capital Management reported $33.4 billion in assets under management as of Dec. 31, up 48% from a year earlier, driven by net inflows and appreciation as the companys funds delivered strong absolute returns despite volatile market conditions in the third and fourth quarters of 2007, according to the firms fourth-quarter earnings statement issued today. The firms flagship OZ Master Fund returned 11.5% for the year, compared to 5.5% for the S&P 500 index. The asset increase includes $1.6 billion of after-tax proceeds from the firms IPO and sale of a stake to Dubai International Capital invested by Och-Ziffs partners, mostly in the OZ Global Special Investments Master Fund. Och-Ziff Capital also reported a net loss of $917 million in 2007, primarily reorganization expenses associated with its IPO.
Separately, Ashmore Group reported $36.5 billion in assets under management for the six months ended Dec. 31, up 16% from June 30. In a news release, the company attributed the increase to the launch of new funds and investment styles. During the period, Ashmore launched its fifth investment fund, the Ashmore Emerging Markets Corporate High Yield fund, which had $600 million in assets under management as of Dec. 31. The listing of Ashmore Global Opportunities Ltd. on the London Stock Exchange Dec. 12 also raised €500 million ($744 million).