15:13:06 EDT Fri 24 May 2024
Enter Symbol
or Name

Brookfield Asset Management Ltd
Symbol BAM
Shares Issued 412,212,963
Close 2023-02-10 C$ 46.29
Market Cap C$ 19,081,338,057
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Globe's McGugan finds ally who's not keen on Brookfield

2023-02-13 09:04 ET - In the News

See In the News (C-BN) Brookfield Corp

The Globe and Mail reports in its Saturday edition that everyone seems to love Brookfield's sprawling investment empire. The Globe's Ian McGugan writes that on Wednesday, Brookfield Asset Management, the alternative-asset manager that was spun out of parent Brookfield Corp. in December, delivered its first earnings report. It said it raised $93-billion in capital in 2022, a record for the Brookfield group. Ten out of 12 analysts rate Brookfield Corp. as "buy" or "outperform." Five out of eight have a similarly upbeat take on Brookfield Asset Management. Mr. McGugan is not so entranced. He says that while Brookfield trounced the S&P 500 index over the past 20 years by growing its assets under management by 20 per cent a year, its complexity and Rubik's Cube of interlocking corporate entities have always left him cold. Dimitry Khmelnitsky at Veritas has a "sell" rating on Brookfield Asset Management and a "reduce" on Brookfield Corp. Mr. Khmelnitsky doubts the Brookfield group will be able to attract new investors at the same torrid pace it has in the past, particularly if high rates are coupled with a recession. Any pain at Brookfield Asset Management would flow through to its majority owner, Brookfield Corp.

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