Third Avenue Management Eyes Brookfield Asset (BAM) to Perform Positively
Third Avenue Management, a disciplined, value-oriented asset manager and investment fund, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 10.94% was recorded by the fund for the 3rd Quarter of 2020, ahead of its FTSE EPRA NAREIT Developed benchmark that returned 10.32%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Third Avenue Management in their Q3 2020 Investor Letter said that they were able to distinguish a value in Brookfield Asset Management Inc. (NYSE: BAM) and initiated a position in the company. Brookfield Asset Management Inc. is an alternative asset management company that currently has a $58.8 billion market cap. For the past 3 months, BAM delivered a 14.82% return and settled at $38.74 per share at the closing of January 15th.