Alternative Investment

Should You Hold Brookfield Asset Management Ltd. (BAM)?

Third Avenue Management, an investment management company based in New York City, released its “Real Estate Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated a +5.87% return net of fees in the fourth quarter compared to a +7.11% (before fees) return for the FTSE EPRA NAREIT Developed Index, the fund’s most relevant benchmark. Leading US-based homebuilders and UK-centric real estate enterprises were the primary contributors to the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Third Avenue Management highlighted stocks like Brookfield Asset Management Ltd. (NYSE:BAM) in its Q4 2022 investor letter. Headquartered in Toronto, Canada, Brookfield Asset Management Inc. (NYSE:BAM) is an alternative asset management company. On January 20, 2023, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $32.00 per share. One-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was 14.12%, and year-to-date its shares gained 11.61% of their value. Brookfield Asset Management Ltd. (NYSE:BAM) has a market capitalization of $13.19 billion.

Third Avenue Management made the following comment about Brookfield Asset Management Ltd. (NYSE:BAM) in its Q4 2022 investor letter:

“Held in the Fund since 2004, Brookfield Asset Management Ltd. (NYSE:BAM) (“Brookfield”) is a Canadian-based alternative asset manager that co-invests its capital with partners in “Real Assets” and other “essential businesses.” More specifically, the company had more than $50 billion of balance sheet capital, along with more than $400 billion of third-party capital, invested across its leading Real Estate, Infrastructure, Renewable Energy, Credit and Private Equity platforms as of September 30, 2022.

In Fund Management’s view, there are few (if any) control groups in the Fund’s investable universe that can match Brookfield’s wealth creation track record in the past two decades. In fact, under the leadership of CEO Bruce Flatt, and the rest of Brookfield’s talented executive team, the company has transformed itself from a collection of high-quality real estate assets and hydroelectric generation facilities into the premier investor in Real Assets globally—all while remaining conservatively capitalized and value-oriented, achieving superior risk-adjusted returns on invested capital in the process…” (Click here to read the full text)

Source: PEXELS

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

We discussed Brookfield Asset Management Ltd. (NYSE:BAM) in another article and shared Madison Fund’ views on the company. 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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