Brookfield Asset Management Ltd. (BAM) Declined after Spin-Off

Baron Funds, an investment management company, released its “Baron Durable Advantage Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 4.7% (Institutional Shares) compared to a 7.6% gain for the S&P 500 Index. For the full year, the fund declined 24.8% compared to an 18.1% decline for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Durable Advantage Fund highlighted stocks like Brookfield Asset Management Ltd. (NYSE:BAM) in the fourth quarter 2022 investor letter. Headquartered in Toronto, Canada, Brookfield Asset Management Ltd. (NYSE:BAM) is an alternative asset management company. On March 8, 2023, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $33.35 per share. One-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was -4.52%, and year-to-date its shares gained 16.32% of their value. Brookfield Asset Management Ltd. (NYSE:BAM) has a market capitalization of $13.775 billion.

Baron Durable Advantage Fund made the following comment about Brookfield Asset Management Ltd. (NYSE:BAM) in its Q4 2022 investor letter:

“Brookfield Asset Management Ltd. (NYSE:BAM) is an asset-light alternative manager that was recently spun out of Brookfield Corporation. The company invests in real estate, infrastructure, renewable power, private equity, and credit assets globally and has more than $750 billion assets under management (AUM) and $400 billion of fee-earning capital. The stock declined 20.9% for the period held during the fourth quarter as investors sold the “stub” security after its spin-off was completed. We retain conviction given the company’s diversified asset base, sustainable cash flows, strong asset management platform, and ability to deploy capital globally.”

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, 28 hedge fund portfolios held Brookfield Asset Management Ltd. (NYSE:BAM) at the end of the fourth quarter which was 0 in the previous quarter.

We discussed Brookfield Asset Management Ltd. (NYSE:BAM) in another article and shared Alphyn Capital Management’s 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.

Suggested Articles:

• 15 Best Small Cap Stocks Ready to Explode
• 11 Most Profitable Gaming Stocks Now
• 10 Most Promising Metaverse Stocks to Buy

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