I still find it all very confusing. Brookfield holds 70% of BAM which is invested in all private funds and the public. Oaktree owns 90% of this. What is Brookfield doing now that they have sold everything?
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•@topicswithhead In short, why not in the mother?
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@topicswithhead well, $BAM is just the asset manager, the rest of the business is run by $BN and other subsidiaries. There are pros and cons to everything. $BAM is particularly interesting because of its dividend policy and simple business model. Those who only invest in $BN do not have such access.
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@TaxesAreTheft Well, what is the other business? As far as I know, they have sold everything from Wealth solutions dun have received the 70% in return. So I just wonder what the point of the share is. Not that BN will become boring and then go back to asset management. One way or another, you would get into the parent company with the holding discount. So I actually still find it a bit weird. Hardly anything has been said about whether they're aiming for something new or not.
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@topicswithhead Anyone who invests in $BN invests in the general assets. Anyone investing in $BAM is investing in the company that manages these assets and generates profits via FBC. $BAM alone makes little sense in my opinion, as there is simply too much competition in the general asset management business, plus there is very little that is "unique" about it and there is also no real moat. $BN has the entire operating business, with infrastructure and insurance standing out in particular. And the expansion into insurance is new, and the company is always adapting to trends in terms of what kind of infrastructure is needed. $BN and $BAM complement each other, and the spinoff made a lot of sense in this respect, as shareholders can derive much more added value from the AM. Before that, the whole thing was almost lost in the holding.
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