The Financial Post reports in its Saturday edition Brookfield Asset Management doubled its profits to $1.6-billion in the second quarter, partly due to increases in management fees (all figures U.S.). A Canadian Press dispatch to the Post says the profit amounted to $1.19 per diluted share for the three-month period ended June 30. This compared with net income of $802-million, or 31 cents, in the second quarter a year ago. Revenues totalled $4.83-billion, down from $5.16-billion year over year. Funds from operations were up sharply at $569-million or 84 cents per share, from $464-million or 68 cents per share a year ago. "We are continuing to see clients allocate an increasing portion of their capital to Brookfield's real asset investment strategies," chief executive officer Bruce Flatt said in a statement. The company is continuing to invest in emerging markets and Europe, and has announced plans to acquire office properties in India, a port and rail network in Brazil and wind farms in Ireland. Brookfield had more than $192-billion in assets under management at the end of the quarter. Its shares closed Friday at $49.29 (Canadian), up 58 Canadian cents on the Toronto Stock Exchange.