U.S. Hedge Fund Managers Ride Rebound

``Key Issues: Och-Ziff was one of the first large managers to proclaim it had recaptured high-water marks in most of its hedge funds. The company has also said that investor redemptions have hit their peaks, for its funds and the industry in general. Och-Ziff was one of several "healthy" managers that were hit by redemptions simply because their investors needed money. Performance has improved in all of Och-Ziff's funds, but it might take until the fourth quarter or beyond before the company can start seeing major positive changes to its income because of those fees.''