Fortress is Hedge Fund King with Highest Profits, Best Performance

Three major mid sized asset managers posted 2Q 2013 earnings this week. Och-Ziff Capital Management Group LLC (NYSE:OZM), AUM $36.6 billion, beat analyst estimates and reported distributable earnings of $0.16/share, 15 percent higher than its previous year mark, and coming off much better than the $0.14 consensus estimate.

MAN GROUP PLC (LON:EMG) (OTCMKTS:MNGPF), AUM $52 billion, also reported Q2 earnings today, the largest publicly traded hedge fund suffered through eighth consecutive months of net outflows. Despite of poor performance in its hedge fund strategies, Man Group has managed to post a profit in the last quarter. The adjusted pre-tax earnings of Man Group came...