RA: Reiterate Avoid Recommendation [Seeking Alpha]
Brookfield Real Assets Income Fund Inc. (RA)
US:NYSE Investor Relations:
publicsecurities.brookfield.com/en/us-closed-end-funds/brookfield-real-assets-income-fund?id=192676
Company Research
Source: Seeking Alpha
Despite a strong risk rally, the RA fund has barely kept pace with its distribution yield. On a normalized basis, I do not believe the RA fund's distribution is sustainable given it is paying ~10% of NAV, while long-term performance has been 4-5%. Back in August, I wrote a cautious article on the Brookfield Real Assets Income Fund ( NYSE: RA ), warning that despite a steep 41% cut to the fund's distribution, the RA fund's new distribution rate may still be unsustainable, as the fund was implying a ~10% of NAV distribution yield compared to 3 and 5 year historical returns of only 4.3% and 2.4% respectively. Since my article, the RA fund has returned 0% to investors (Figure 1). However, actual market performance was not quite as bad as the headlines suggest. Combined with the fund's $0.118 / month distribution, RA investors actually received total returns of 7.4% since August 31st, 2023, a respectable figure for an income fund (Figure 2). Given RA's mandate is to provide inve
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RA
News
- Brookfield Real Assets Income Fund Inc. Announces Portfolio Manager Update WebcastGlobeNewswire
- Brookfield Real Assets: 10% Yield And A Large Discount Are Not Enough [Seeking Alpha]Seeking Alpha
- Brookfield Real Assets Income Fund Inc. Declares Q2 2024 Distribution Schedule and Announces Fund UpdatesGlobeNewswire
RA
Sec Filings
- 4/15/24 - Form EFFECT
- 4/11/24 - Form N-2/A
- 4/5/24 - Form N-2/A
- RA's page on the SEC website