Brookfield Asset Management has reported its first quarter financial results for the year ended 2014, with 6% increase in the Funds from operations (FFO) excluding realized disposition gains, and 57% increase in the income per common share, over the previous year.
Brookfield, CEO Bruce Flatt said: "Our global portfolio of real assets turned in a strong performance, including a significant increase in fee revenues and the contribution from our renewable energy investments."
The results show the company’s assets under management increased to $190bn and the fee bearing capital rose by 5% to $84m.
With the growth in FFO, the net income of the company including the amounts attributable to non-controlling interests has increased by 21%.
This rise in net income is also attributed to the higher level of fair value gains on office and retail properties and private equity investments.
During the quarterly period, the company’s property group has made nine acquisitions, with $400m of capital deployed into assets in North America, Europe and China.
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The quarterly dividend of US$0.16 per share payable on 30 June has been declared by the board of directors, along with the regular monthly and quarterly dividends on its preferred shares.