Och-Ziff Capital Management Group's assets under management dropped $3.2 billion, or 7.5%, in the month of June to $39.2 billion as of July 1, the firm's 8-K filing Tuesday with the Securities and Exchange Commission showed.
The unaudited results show that Och-Ziff's AUM declined 6.7% for the three months between April 1 and July 1 and was down 12.1% for the six months between Jan. 1 and July 1, according to the firm's previous 8-K filings.
Net-of-fees returns of the hedge fund manager's three flagship funds were negative in the quarter ended June 30. OZ Master Fund, -2.1%; OZ Asia Master Fund, -3.6%; and OZ Europe Master Fund, -1.6%.
Joe Snodgrass, a company spokesman, declined in an e-mail to comment on Och-Ziff's asset outflows and performance.
Och-Ziff has been the subject of a long-running federal investigation under the Foreign Corrupt Practices Act into allegations of bribery involving Libya's sovereign wealth fund.
In the firm's May 3 earnings call regarding March 31 results, Joel Frank, Och-Ziff's chief financial officer, said the company is in discussions with the government to resolve the matter and had established a $200 million reserve fund for a potential settlement.
The exact timing of the settlement can't be predicted, Mr. Frank said, according to a transcript.
