Brookfield Asset Management posts 11% profit boost in first quarter, raises $21-billion

Brookfield Asset Management reported an 11% increase in profits from fees and raised US$21 billion in the first quarter. The company highlighted its ownership of hard assets, including real estate and infrastructure, as defensive holdings in unsteady markets. The update is positive for fundamentals but likely to have limited broader market impact.

Analysis

Brookfield Asset Management reported an 11% increase in profits from fees and raised US$21 billion in the first quarter. The company highlighted its ownership of hard assets, including real estate and infrastructure, as defensive holdings in unsteady markets. The update is positive for fundamentals but likely to have limited broader market impact.