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  5. BAM: Hello, In terms of valuation, which is the better choice, and also, is BAM much less risky than BN for a fairly conservative investor? [Brookfield Asset Management Ltd. Class A Limited Voting Shares]
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Q: Hello,

In terms of valuation, which is the better choice, and also, is BAM much less risky than BN for a fairly conservative investor? It's been graphically much weaker than BN for some time.

thanks
Asked by Charles on February 12, 2026
5i Research Answer:

With the BAM dividend and its fee-based business, we would consider it less risky. BN's business varies dramatically with investment purchases or monetization, but it is cheaper on most metrics than BAM right now. We would choose BN for a growth investor, BAM for income and and a more conservative investor.