Hedge fund manager Och-Ziff is set to start earning performance fees again across its USD21.7bn of funds.

Hedge fund manager Och-Ziff is set to start earning performance fees again across its USD21.7bn of funds.

The flagship Och-Ziff master fund is up 17.6 per cent this year, meaning it has almost completely recovered from losses incurred in 2008.

Och-Ziff's funds are now poised to see inflows, say sources. Founder Daniel Och (pictured), a former Goldman Sachs trader, warned last month that those inflows seen so far had been slow. 'It may still take a while for them to become meaningful,' he said.

Och-Ziff's turnround should ease pressure on shareholders in the company, which listed in New York in 2007 but has yet to turn a significant profit. Ongoing costs of the listing, as well as damage caused by the financial crisis, sharply reduced revenues.