PrefBlog

Followings its name change to Partners Value Split Corp. the old website for BAM Split Corp. (bamsplit.com) has been moved to partnersvaluesplit.com.

Thanks to newly Assiduous Reader gsp for telling me about this in the comments to the previous post.

My inquiry regarding the change has not yet been answered. I have sent a reminder.

The company has four issues of Senior Preferred Shares trading on the Toronto Exchange: BNA.PR.B, BNA.PR.C, BNA.PR.D and BNA.PR.E. All are tracked by HIMIPref™. There is also a series of Junior Preferred Shares outstanding, all of which are held by BAM Investments Corp. (or whatever they’re calling it this week), which also owns all of the Capital Units.

Update, 2013-9-7: I have received an answer to my query:

With respect to the name change of BAM Split Corp. to Partners Value Split Corp., the purpose of this was simply to remove some of the confusion that previously existed with the ‘BAM Split’ name and its relation to Brookfield Asset Management (Brookfield) and not to amend its investment policy, or objectives. The confusion with respect to BAM Split’s name is that some consider it to be a subsidiary of Brookfield whereas its only relation to Brookfield is that it holds a significant investment of Brookfield’s Class A shares in addition to its operations are being managed by Brookfield.

In May of this year we changed the name of BAM Split’s parent, BAM Investments to Partners Value Fund. We feel that changing the name of BAM Split to Partners Value Split better associates this company with its parent as opposed to its investment.

We will be providing more detail in relation to this name change as part of our Sep 30th YE materials that should be available in early December.

This entry was posted on Friday, September 6th, 2013 at 3:33 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.