Brookfield Asset Management Voting Ord Shs Class A T.BN.PF.A

TD

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Just released their Action Buy list for July and here are their notes. GLTA

Industry Overview

Brookfield Asset Management Inc.
BAM-N, BAM.A-T: US$32.90; ACTION LIST BUY 12-Month Target: US$44.00

Brookfield Asset Management is a global alternative asset manager with ~US$264 billion in fee-bearing capital (including Oaktree at 100%) and a focus on real assets – property, renewable power, and infrastructure. Our ACTION LIST BUY rating reflects our view that BAM is well-positioned with sufficient liquidity to address issues that may arise in its portfolio, which we anticipate will be largely related to BPY's mall assets, and to capitalize on current market dislocation, as it has in previous downturns. In the medium-to-long term, we also believe that near-zero interest rates globally will only increase investor appetite for BAM's alternative investment products, as they have arguably become the only way to earn a reasonable return with modest risk.