Author Topic: BAM - Brookfield Asset Management  (Read 511142 times)

chrispy

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Re: BAM - Brookfield Asset Management
« Reply #400 on: February 16, 2018, 04:05:46 AM »
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Net income and funds from operations (“FFO”) both increased significantly in 2017. Net income totaled $4.6 billion, an increase of $1.2 billion compared to last year, reflecting strong operating results and a higher level of unrealized valuation gains. FFO was $3.8 billion, an increase of 18% from the prior year, which also reflects the strong operating results as well as an increased level of realized disposition gains from assets sold during the year. Net income per share reflects the allocation of income between common shareholders and non-controlling interests.

https://globenewswire.com/news-release/2018/02/15/1348677/0/en/Brookfield-Asset-Management-Reports-2017-Results.html

Outstanding year.  A 26% increase in fee related earnings.  7% increase in the dividend.  Carried interest is sky rocketing.  This is all what their investor presentation told us would happen.

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The expansion in fee bearing capital has increased the earning potential of our asset management franchise with annualized fees and target carry now at $2.5 billion, an increase of 22% compared to this time last year.

Our private funds generated unrealized carried interest of $1.3 billion, bringing our total accumulated unrealized carried interest to $2.1 billion, which is more than double the December 2016 amount.

In a recent interview posted on CoBF, Bruce said that credit would be their next big thing.  They would begin now and really put the pedal to the metal during the next downturn:

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We held closes of four credit funds including the final close for our first infrastructure credit fund, Brookfield Infrastructure Debt I ("BID I"), which raised $885 million, exceeding our target of $700 million. We also held a close of our first open ended real estate credit fund.


villainx

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Re: BAM - Brookfield Asset Management
« Reply #401 on: February 22, 2018, 08:54:26 AM »
For folks holding any of the Brookfield family of LP, do any of you hold it in US based IRA (or similar tax advantaged) account?  I've been avoiding it because I don't understand the K1 and MLP implications.

But from my understanding, the Brookfield LPs shouldn't have UBIT and where distribution are return on capital, it's a benefit being in IRA as cost basis reduces.  Even if there is an UBIT event, it should be fairly rare?  And the foreign tax would be not a important because of the relatively high yield and return on capital?

Any guidance would greatly be appreciated.

chrispy

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Re: BAM - Brookfield Asset Management
« Reply #402 on: February 22, 2018, 10:35:09 AM »
The Brookfield website discusses this some. Like you mentioned, holding in an IRA is beneficial. They avoid UBIT which is the main concern.

Remember, BAM created the LPs to be desirable for investors to own, causing them to have a higher price, be able to issue shares for acqusitions, and repeat. They want IRA investors to participate.

Shane

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Re: BAM - Brookfield Asset Management
« Reply #403 on: February 22, 2018, 02:25:06 PM »
I was looking at Bloomberg today, Partners Value Investments LP sold 79.7m shares in Q4 2017?  Is this accurate?  This would eliminate almost all of their holding in the company...

bizaro86

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Re: BAM - Brookfield Asset Management
« Reply #404 on: February 22, 2018, 05:18:33 PM »
No news release, and that would certainly be material for them.

Shane

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Re: BAM - Brookfield Asset Management
« Reply #405 on: February 23, 2018, 06:28:40 AM »
Yes I checked their website later yesterday evening, I don't know why Bloomberg is off.

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #406 on: February 23, 2018, 07:05:40 AM »
Shane,

Do you have a link to that message? Thank you in advance.
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

Shane

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Re: BAM - Brookfield Asset Management
« Reply #407 on: February 23, 2018, 07:59:34 AM »
No - if you have a Bloomberg terminal you can just check the ownership page.  I have attached an imagine of the ownership chart for Partners Value Investments LP.

John Hjorth

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Re: BAM - Brookfield Asset Management
« Reply #408 on: February 23, 2018, 08:05:43 AM »
Thanks a lot for sharing here, Shane,

It looks from the graphics to me like it's a 1st quarter 2017 issue.
”In the race of excellence … there is no finish line.”
-HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai

Shane

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Re: BAM - Brookfield Asset Management
« Reply #409 on: February 23, 2018, 12:12:23 PM »
Thanks a lot for sharing here, Shane,

It looks from the graphics to me like it's a 1st quarter 2017 issue.

From the graphic, yes.  On the data page it lists it as a change that occurred in the period ending 12/31/17.  I don't know what is going on.  May ask a technician to look into it.

This is an error which IR will soon correct.
« Last Edit: February 23, 2018, 01:20:56 PM by Shane »