Brookfield Asset Management Reports Positive Earnings

Brookfield Asset Management Says Earnings Increased Nine-Fold on Holdings

Brookfield Asset Management Inc. (BAM/A), the Toronto-based investment firm that manages about $150 billion, said second-quarter profit rose nine-fold as the value of its holdings surged.
Net income attributable to shareholders rose to $838 million, or $1.26 a share, from $89 million, or 12 cents, a year earlier. Cash flow from operations increased 29 percent to $829 million, the company said today in statement.
Brookfield, which focuses on property, renewable power and infrastructure assets, booked $1.09 billion in fair value changes as the financial market recovery lifted the value of holding. The company raised $4.7 billion in the second quarter and will seek another $4 billion for seven funds as it expands investments globally.


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