Third Avenue Management, an investment management company based in New York City, has issued its third quarter 2022 investor letter for its “Real Estate Value Fund.” A copy of the same can be downloaded here. The fund generated a return of -11.44% net of fees 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 to find the best picks in 2022.
Third Avenue Management as Brookfield Asset Management Inc. (NYSE:BAM) was discussed in its Q3 2022 investor letter. Based in Toronto, Canada, Brookfield Asset Management Inc. (NYSE:BAM) is an asset management company. On October 19, 2022, Brookfield Asset Management Inc. (NYSE:BAM) stock closed at $38.75 per share. One Month Brookfield Property Management Inc. (NYSE:BAM)’s return was -16.56% and its shares lost 35.08% in value over the past 52 weeks. Brookfield Asset Management Inc (NYSE: BAM ) has a market capitalization of $63.781. billion.
Third Avenue Management is particularly interested in Brookfield Asset Management Inc. Here’s what (NYSE:BAM) had to say in its Q3 2022 investor letter:
“Brookfield Asset Management Inc. (NYSE: BAM ) (6.8% of fund assets), which is expected to divest a 25% stake in its wholly-owned investment management business, will have approximately $750 billion in assets under management and will inherit the company’s name. The remaining “real estate” entity is named Brookfield Corporation. The company will be renamed Brookfield Corporation, along with important combinations in its businesses, including a rapidly expanding insurance platform in property, infrastructure, renewable energy and other “core” operating businesses.
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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 held Brookfield Asset Management Inc. at the end of the second quarter, compared to 35 in the previous quarter. (NYSE:BAM) hold.
We discussed Brookfield Asset Management Inc. (NYSE:BAM) in another article and shared Cooper Investors opinion on the company. Additionally, please see our Hedge Fund Investor Letters Q3 2022 for more investor letters from hedge funds and other leading investors.
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Disclosure: None This article was originally published on Insider Monkey.
