Och-Ziff to Trim Management Fees for Main Hedge Funds
- Will lower fees by 25 basis points, following other top firms
- Och-Ziff has seen $5.5 billion in net outflows this year
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Och-Ziff Capital Management Group LLC, the hedge fund that’s under investigation by U.S. authorities over whether it broke anti-bribery laws, plans to cut management fees for its main funds, people with knowledge of the matter said.
The firm will trim the fees by 25 basis points for its OZ Master, Asia and Europe multi-strategy funds, said the people, who asked not to be identified because the information is private. It charges management fees ranging from 1.5 percent to 2.5 percent of assets annually for those funds and takes 20 percent of profits, according to a regulatory filing.