Och-Ziff Capital Management Group, one of the few publicly traded hedge fund companies, indicated that its inflows of funds have produced modest gains in most of its portfolios, reports Reuters.

The company listed its shares in November, and now manages $33.8 billion as of June, an increased of $438 million from last month, when it last reported assets. The increase was fueled by better performance and increased demand for the company's portfolios, Och-Ziff said in a regulatory filing.

The news that investors added assets to one of the biggest and oldest firms in the $1.8 trillion hedge fund industry is welcome news nearly halfway into a year that started off as the worst ever for these portfolios. Heavy losses at many funds in the early months of 2008 prompted many investors to pull money out, analysts have said.

But Dan Och, who founded Och-Ziff with the Ziff publishing family 14 years ago, was cautiously optimistic about his firm's appeal to investors all along. In April he told analysts that potential investors were still meeting with the company even though they were slower to make commitments. The Och-Ziff funds are considered to be more conservative and stable portfolios with more modest gains and losses.

In May, three Och-Ziff funds posted gains, leaving only one with losses for the first five months of the year. All four of its funds were in the red during the first quarter. The roughly $20 billion