Alternative Investment

Multiple Headwinds Affected Brookfield Asset Management Ltd. (BAM) Stock in Q4

Madison Funds, managed by Madison Investment Management, released its “Madison Mid Cap Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased by 9.6% compared to a 9.2% increase in the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Madison Funds highlighted stocks like Brookfield Asset Management Ltd. (NYSE:BAM) in its Q4 2022 investor letter. Based in Toronto, Canada, Brookfield Asset Management Inc. (NYSE:BAM) is an alternative asset management company. On January 13, 2023, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $31.89 per share. One-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was 17.63%, and year-to-date its shares gained 11.23% of their value. Brookfield Asset Management Ltd. (NYSE:BAM) has a market capitalization of $13.145 billion.

Madison Funds made the following comment about Brookfield Asset Management Ltd. (NYSE:BAM) in its fourth-quarter 2022 investor letter:

“The bottom five detractors for the quarter were Carlisle Companies, Brown & Brown, Brookfield Asset Management Ltd. (NYSE:BAM), CarMax, and Armstrong World Industries. Brookfield was a detractor in the quarter on capital market volatility and anticipation of slowing economic activity, as well as some noise in trading surrounding the partial spin-off of its asset management business.”

Image by Nattanan Kanchanaprat from Pixabay

Brookfield Asset Management Ltd. (NYSE:BAM) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 39 hedge fund portfolios held Brookfield Asset Management Ltd. (NYSE:BAM) at the end of the third quarter, and 34 in the previous quarter.

We discussed Brookfield Asset Management Ltd. (NYSE:BAM) in another article and shared the best Canadian stocks to buy and hold. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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