Here’s How Brookfield Asset Management (BAM) Plans to Restructure Its Business

Third Avenue Management, a New York City-based investment management firm, released its Q3 2022 “Real Estate Value Fund” investor letter. A copy of it can be downloaded here. The fund generated a return net of fees of -11.44% in the third quarter compared to a return of -11.39% (before expenses) for the FTSE EPRA NAREIT Developed Index. Additionally, you can check out the fund’s top 5 holdings for its best picks in 2022.

Third Avenue Management discussed stocks such as Brookfield Asset Management Inc. (NYSE:BAM) in its Q3 2022 investor letter. Headquartered in Toronto, Canada, Brookfield Asset Management Inc. (NYSE:BAM) is a management company of assets. On October 19, 2022, shares of Brookfield Asset Management Inc. (NYSE:BAM) closed at $38.75 per share. Brookfield Asset Management Inc. (NYSE:BAM)’s one-month return was -16.56% and its shares lost 35.08% of their value over the last 52 weeks. Brookfield Asset Management Inc. (NYSE:BAM) has a market capitalization of $63,781 billion.

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Here’s what Third Avenue Management had to say specifically about Brookfield Asset Management Inc. (NYSE:BAM) in its Q3 2022 investor letter:

Brookfield Asset Management Inc. (NYSE:BAM) (6.8% of fund assets), which is expected to distribute a 25% stake in its wholly owned investment management business that will have approximately $750 billion in assets under management and will inherit the name of the existing company. The remaining “real asset” entity will be renamed Brookfield Corporation and will retain the company’s significant investments in property, infrastructure, renewable energy and other “core” operating businesses, including a rapidly expanding insurance platform with significant synergies across the globe. business”.

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Brookfield Asset Management Inc. (NYSE:BAM) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 34 hedge fund portfolios owned Brookfield Asset Management Inc. (NYSE:BAM) at the end of the second quarter, up from 35 in the prior quarter.

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We covered Brookfield Asset Management Inc. (NYSE:BAM) in another article and shared Cooper Investors’ views on the company. Also, check out our Q3 2022 Hedge Fund Investor Letters page for more letters from hedge fund investors and other leading investors.

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Disclosure: none. This article was originally published on Insider Monkey.

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