Daily News: October 31, 2014

Oaktree’s Quarterly Profit Falls 47% on Exits Slowdown

Bloomberg reported Oaktree Capital Group said third-quarter profit fell 47% as it sold fewer holdings.

According to Bloomberg , the firm said in a statement that adjusted net income, a measure of profit excluding costs such as noncash equity compensation and income taxes, fell to $95.1 million, or 47 cents a share, from $179.6 million, or $1.16 a share, a year earlier.

Bloomberg said further, Oaktree Co-Chairman Howard Marks has urged caution in credit investing since last year, saying investors who have added more risk in their portfolios amid near-zero interest rates may be hurt when markets reverse course.

To read the entire Bloomberg article, click here.