brookfield asset management (BAM) – Pág. 2

Foros Empresas Canadá brookfield asset management (BAM) - Pág. 2

Este debate contiene 33 respuestas, tiene 12 mensajes y lo actualizó  Juanjoo hace 1 semana, 2 días.

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  • #47084

    SNM
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    Eso pensaba yo, pero me surgía la duda de si un broker podría tomar la empresa como canadiense (por su matriz) o no

    gracias!!

    SNM

    #47131

    Ricard
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    Me he leído los post sobre retención de dividendos de las dependientes de BAM, como BPY y BEP, y no me ha quedado claro que % de retención en origen se les aplica para aquellos que uséis ING. Para IB parece q un % mínimo, pero para ING alguno sabe la retención en origen de los dividendos de BPY y BEP? 25%? 15%? Casi 0%?

    gracias

    Hola.En este hilo te respondo con lo que me cobró ING con BEP, post #44810 https://www.cazadividendos.com/foros/tema/compras-y-ventas-de-empresas-canadienses/page/4/  En el post #44812 de Ruindog tienes LA TABLA 🙂

    Spaceballs: "Esto no lo hacemos por dinero, esto lo hacemos por mucho dinero"

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    #47132

    Juanjoo
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    Yo he adquirido con clicktrade acciones de bpy. En marzo sabré la retención y lo escribiré aquí. Si es del 0% en origen quizas me animé con bip o bbu.

    A veces se gana; a veces se aprende

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    #47245

    Faemino
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    Bueno, pues 4 días después de la fecha de pago… he cobrado en ING mi primer dividendo de BEP. En concreto han abonado dos, uno de 0,402€ por título y otro de 0,028€ por título. Lo importante es que NO he tenido retención en origen por lo que deduzco que este dividendo es uno de los que se paga íntegro desde la división de Bermudas. Canadá no ve nada en este caso. Estaré vigilante a los próximos pagos trimestrales.

    Un saludo.

    ITX / IBE / MAP / EBRO / REE / P&G / T / GIS / BEP / BATS / MO

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    #47246

    Ruindog
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    Bueno, pues 4 días después de la fecha de pago… he cobrado en ING mi primer dividendo de BEP. En concreto han abonado dos, uno de 0,402€ por título y otro de 0,028€ por título. Lo importante es que NO he tenido retención en origen por lo que deduzco que este dividendo es uno de los que se paga íntegro desde la división de Bermudas. Canadá no ve nada en este caso. Estaré vigilante a los próximos pagos trimestrales.

    Un saludo.

    Los 0,402€ (0,4580$) son de Bermuda. Sin retención

    Los 0,028€ (0,032$) son de Canadá. Al tratarse de ROC (Return Of Capital) tampoco tienen retención. En teoría se debería sustraer del precio de compra de las acciones.

     

    Un optimista es un pesimista mal informado

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    #47247

    SNM
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    Y la parte de Return of capital como se considera a efectos fiscales? Lleva retención española como los dividendos ordinarios o hay que esperar a la venta para minorar el precio de compra?

    SNM

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    #47271

    Ruindog
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    Y la parte de Return of capital como se considera a efectos fiscales? Lleva retención española como los dividendos ordinarios o hay que esperar a la venta para minorar el precio de compra?

    La teoría: no lleva retención y minora el precio de compra
    La práctica: considerarlo un dividendo ordinario. De lo contrario cada vez que recibes una distribución de un REIT, CEF o empresas como BEP, BIP.. tendrías que estar mirando con lupa la correspondiente “witholding tax info”. Una locura en mi opinión.

    Un optimista es un pesimista mal informado

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    #47471

    Luis G.
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    Aunque no pertenece a BAM, pego aquí esta magnífica discusión con información sobre el universo Brookfield. Y descubro BPR (REIT de Brookfield). Conocía BPY, pero no esta. También habla bastante de BEP.

    Ha empezado cuando en el hilo de young investors alguien ha planteado tener BIP en su cartera. Allí la consideran MLP con los efectos fiscales de este tipo de empresas.

    “For BIP, I’ll admit I’m not too knowledgeable about K1s and withholding taxes. I remember reading somewhere that BIP was best held, or safe to hold in a Roth. I haven’t put it there yet, as I wanted to learn more about tax laws.

    […] Love the idea of owning Brookfield shares, but loathe deciding between BIP, BEP, BAM, BPY for long term. If I recall, BIP was only a small piece of BAM.Anyways, thanks for the heads up about the dividend recapture. Thought I knew all I needed to know about LPs, but I learn something important/negative about them every month haha. Just might get BAM and replace BIP with AWK. For BAM, is it better in a Roth or taxable account? ”

    Contestación de Jeff (Jvincen2)

    “Go with BPR in a retirement account and leave any future headaches out of it all just as chowder suggests. They would be in addition to your O in that sector and if it was me I would think about NNN or as you already have dome WPC to hold there also. Stick with time proven strength as you have a long road in front of you.
    BAM the true management part of Brookfield will pay you qualified dividends so no K1 or withholding taxes in general but the risk is still there if held in a retirement account because the situation can change. Besides they are not going to pay you like the others do so BPR is where I would be again in your situation if I wanted a Brookfield investment in my retirement account. BEPs safety score comes about for many reasons and when I look at a Brookfield holding of course I look at it but try to keep in mind it’s often a very short view of them and the score reflects that time frame. I use SSD for safety scores and in fact BEPs has risen higher as time has gone by and a better view of them becomes more apparent, now rates an average wide 53 safety score, it was lower before.
    Brookfield the entire company on the other hand has shown time and again for decades they know what they’re doing, often called the Berkshire Hathaway of Canada for very good reasons.
    Utilities come in many styles just look at how quickly we are off onto water related ones. One of those might be a really good long tern investment to hold in your retirement account. You can go many weeks even months without food while after a handful of days without water you die.
    Now there is a commodity that’s not going away anytime soon imho no matter what age the investor is 🙂 ”

    “Yes, BAM held in a taxable account where the normal 25% withholding tax due would drop down to 15% due to a tax treaty would be the rate but remember now you also need to take currency fluctuations into account also. I looked harder at BAM and they would be ok but the yield is pretty low and I didn’t look harder into them only to see the tax filing status. Why them instead of another ? you had BIP as a utility, not sure I agree with that view myself but BAM isn’t one. Why not just add one more utility like WEC AEP SO DUK ED.
    And why hold them there if you have to have A Brookfield holding. If you have a ROTH there would be no withholding taxes at all and your taking chowders warning to far with BAM they don’t issue a K1, they issue a 1099DIV. It was BIP he warned you about holding there, actually holding an MLP at all in either place for that matter.

    BAM “Brookfield Asset Management Inc. is a “qualified foreign corporation” for U.S. federal income tax purposes and its dividends are therefore generally eligible for “qualified dividend” treatment.
    BAM Tax Reporting
    Dividends paid by Brookfield Asset Management Inc. are reported annually on Form 1099 which is distributed to shareholders in February.

    So if you want to hold one in a ROTH hold either BAM or BPR there.
    BPR which was simply created to avoid the very same thing chowder is warning you about in holding BIP in a retirement account in 2018, other then the characterization of it being a REIT vs a LP it is the exact same company as another Brookfield holding BPY and it’s a REIT style investment so it could be placed in your real estate holdings.

    And as for BEP it adds another twist to that reporting as it’s a YIELDCO status and the IDRs (incentive distribution rights) change the picture up a bit more. Note, however, that most MLPs have IDR tiers of 50% while Brookfield’s is half as large. This means that regular investors get to keep more of the marginal funds from operation (FFO). It also lowers the firm’s overall cost of capital and makes it easier to grow profitably. This is a view of BEP by SSD below. It has to do with how they are structured and BAMs 60% stake in them.

    <<< Another key difference between Brookfield Renewable and MLPs is that because of how it’s structured (its assets are themselves limited partnerships), it generates no unrelated business taxable income (UBTI). As a result, the stock is safe to own in retirement accounts such as IRAs and 401Ks. >>>

    Now to confuse you ever more safe and should you are two very different things and at your age I would find another utility choice and if I had to have a Brookfield holding it would be the REIT one BPR where there should be no bookkeeping headaches in the future and they are certainly a high yield investment at the moment.

    I hold two YIELDCO type investments BEP and PEGI and both deal in alternative energy. And If you understand the AFFO payout ratio and how they are generated you know some things already about how they work. If you would like to look into one then pay attention to the PPA (power purchase agreements) and both how long of a weighted length term they involve and just as importantly try to determine the credit worthiness of who they are. In BEPs case over 90% of their PPA cash flow comes from contracts with a weighted length of 16 years. Many of them also, over 85% of them have investment grade credit ratings, like other utilities for example.
    You also should look for the term “non recourse debt” all that really means is if things go bad, lets say an earthquake or ? and someone is left holding the debt bag the debt load stays within that one asset/project and no one can follow the debt farther into the company.

    And finally I have owned BEP for some time now, right around 2011-12 and they have helped me grow others along the way and I think Brookfield is top notch management myself. Their ability to state what they plan to do and then make it happen speaks highly of them imho. And they plan to keep right on growing bigger. I think they are a great example of a steady reliable income producer myself.

    <<< Management’s ultimate long-term goal is to generate 12% to 15% annual total returns for investors, and so far the firm has actually exceeded that ambitious target (16% annual total returns since going public >>.”

    “I would agree with chowder as BIP is entirely K1 reported. I noticed you listed BIP in your utility holdings, I hold a Brookfield investment BEP and have studied other Brookfield choices at times too.
    And if I recall right BIP has 5 or 6 divisions (I think) and utilities as you have them listed is some of them, though I admit I’m not sure which division is more heavily weighted. They have others that are a stretch to consider a utility investment if I remember right. I would look at them as more of an industrial type holding from my own surface look at BIP then a pure play utility choice .
    But if you wanted to follow chowders advice and also remain in a Brookfield managed choice that could reside in your ROTH and issues a 1099DIV BPR might be a good one for you instead of BIP.
    If you wanted to stay energy focused in a Brookfield choice them the one I have might work too BEP that is A.E. related, not a bad utility energy play for a younger person as alternative energy continues to play a bigger role going forward. BEP actually has quite a bit of hydro power and that’s about the oldest well proven type of utility power around. Very low cap-ex and a good money maker. And because of the drop down relationship to Brookfield management they issue both a 1099DIV and K1 but the K1 you merely file away BEP doesn’t generate any of the usual K1 problems and work in a retirement account.
    In addition if a Brookfield choice is what your after then both BPR and BEP held in a recognized retirement account like a ROTH will have no Canadian withholding taxes involved with them at all, not even the tax treaty 15 % rate your currently dealing with in BIP as a true “pass through” investment, none will be withheld at all.
    Brookfield’s management results are impressive as heck but as chowder points out the right one in the right place matters too.
    Good luck to you one of the most important things to have working for you is already doing just that, time held and the magic of compounding. “

    ENG, GAS, MAP, REE, REP, SAN, AAPL, BEP, CAH, CVS, D, DIS, ENB, FLO, GIS, HRL, IBM, JNJ, KHC, LB, MMM, MO, O, PEP, PG, PM, QCOM, SO, T, TGT, VFC, XOM, DGE, GSK, IMB, NG, RDS-B, RIO, VOD, AD, BMW, ENGI, VIE, AzValor internacional FI, Cobas internacional FI, Magallanes Microcaps Europe, True Value.

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    #47472

    Luis G.
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    Y ahora un poco de BIP:

    “BIP in a nutshell.

    1) Diversified & owns 35 critical infrastructure assets on 5 continents over which energy, water, goods, people and data either flow or are stored.

    2) Dividend increased every year since IPO in 2008.

    3) 10 year Dividend CAGR 11.4%.

    4) 95% of its FFO is either under long-term contract (for up to 20 years), or in regulated utility industries.

    5) 75% of cash flow is indexed to inflation.

    6) 65% of cash flow has no volume risk.

    7) Almost all counterparties are of investment grade quality e.g. Regulated Utilities, meaning default risk on contracts should be very low.

    8) 90% of BIP’s debt is long-term fixed rate (average duration 8 years).

    9) 80% of this debt is non-recourse, BIP has essentially built a debt shield around investors.1

    0) S&P credit rating BBB+.

    11) Part of the BAM empire, which is the world’s oldest, largest, and most trusted infrastructure/utility/real estate manager with 115 years experience.”

    ENG, GAS, MAP, REE, REP, SAN, AAPL, BEP, CAH, CVS, D, DIS, ENB, FLO, GIS, HRL, IBM, JNJ, KHC, LB, MMM, MO, O, PEP, PG, PM, QCOM, SO, T, TGT, VFC, XOM, DGE, GSK, IMB, NG, RDS-B, RIO, VOD, AD, BMW, ENGI, VIE, AzValor internacional FI, Cobas internacional FI, Magallanes Microcaps Europe, True Value.

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    #47484

    Juanjoo
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    Creo que BPY y BPR son la misma empresa pero con distintas domiciliaciones a efectos fiscales, BPR americana y BPY de Bermudas.

    De hecho la cotización en siempre exactamente igual.

    A veces se gana; a veces se aprende

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    #47737

    Luis G.
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    Creo que BPY y BPR son la misma empresa pero con distintas domiciliaciones a efectos fiscales, BPR americana y BPY de Bermudas.

    De hecho la cotización en siempre exactamente igual.

    ¿Quizá se haya creado BPR para tener tratamiento REIT en lugar de MLP de cara a ciudadanos Canadá/USA?

    ENG, GAS, MAP, REE, REP, SAN, AAPL, BEP, CAH, CVS, D, DIS, ENB, FLO, GIS, HRL, IBM, JNJ, KHC, LB, MMM, MO, O, PEP, PG, PM, QCOM, SO, T, TGT, VFC, XOM, DGE, GSK, IMB, NG, RDS-B, RIO, VOD, AD, BMW, ENGI, VIE, AzValor internacional FI, Cobas internacional FI, Magallanes Microcaps Europe, True Value.

    #47738

    Luis G.
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    Y ya que estamos en el universo Brookfield, pego esta información aportada en la 3º carta del fondo Numantia de 2018 (agosto):

    “La empresa Partners Value Investments es en realidad un vehículo a través del cual los directivos de Brookfield Asset Management poseen acciones de Brookfield. El 95% es de ellos y no piensan vender, por lo que la liquidez es muy muy baja y cuesta construir una posición. La empresa es básicamente una forma apalancada de estar expuesto a Brookfield con un importante descuento, y obtener además una cartera de buenas empresas incluida.”

    Partners Value Investments LP (PVF-UN.V).

    ¿Alguien la conocía o la tiene?

     

     

    ENG, GAS, MAP, REE, REP, SAN, AAPL, BEP, CAH, CVS, D, DIS, ENB, FLO, GIS, HRL, IBM, JNJ, KHC, LB, MMM, MO, O, PEP, PG, PM, QCOM, SO, T, TGT, VFC, XOM, DGE, GSK, IMB, NG, RDS-B, RIO, VOD, AD, BMW, ENGI, VIE, AzValor internacional FI, Cobas internacional FI, Magallanes Microcaps Europe, True Value.

    #47788

    Juanjoo
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    Creo que BPY y BPR son la misma empresa pero con distintas domiciliaciones a efectos fiscales, BPR americana y BPY de Bermudas.

    De hecho la cotización en siempre exactamente igual.

    ¿Quizá se haya creado BPR para tener tratamiento REIT en lugar de MLP de cara a ciudadanos Canadá/USA?

    Si, algo así creo que es. En varios artículos de SA se comenta.

    A veces se gana; a veces se aprende

    #47789

    Juanjoo
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    Y ya que estamos en el universo Brookfield, pego esta información aportada en la 3º carta del fondo Numantia de 2018 (agosto):

    “La empresa Partners Value Investments es en realidad un vehículo a través del cual los directivos de Brookfield Asset Management poseen acciones de Brookfield. El 95% es de ellos y no piensan vender, por lo que la liquidez es muy muy baja y cuesta construir una posición. La empresa es básicamente una forma apalancada de estar expuesto a Brookfield con un importante descuento, y obtener además una cartera de buenas empresas incluida.”

    Partners Value Investments LP (PVF-UN.V).

    ¿Alguien la conocía o la tiene?

    Ya leí eso en esa carta de numantia, pero como mi broker no me da acceso a esa acción deje de buscar nada sobre ella (aunque parecía que había poco información).

    A veces se gana; a veces se aprende

Foros Empresas Canadá brookfield asset management (BAM) - Pág. 2

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