TORONTO, Feb. 27, 2015 /CNW/ - Sprott Inc. (TSX: SII)
("Sprott" or the "Company") today announced that it has received
the necessary investor and regulatory approvals to complete the
previously announced transfer of the management contracts for two
specialty funds from Royce & Associates, LLC to Sprott Asset
Management and Sprott USA,
effective March 9, 2015.
The Royce Focus Trust, Inc. (Nasdaq: FUND) and one other
alternative equity fund ("the Funds") will continue to be managed
by Whitney George, who has joined
Sprott as a Senior Portfolio Manager. Together, the Funds have
approximately $285 million in assets
under management.
"We are pleased to welcome Whitney to our team and look forward
to working with him to continue the growth of our U.S. business,"
said Peter Grosskopf, CEO of Sprott. "The addition of these
two funds is an important step in the process of expanding our
product and geographic diversity."
About Sprott Inc.
Sprott Inc. is a leading independent asset manager dedicated to
achieving superior returns for its clients over the long term. The
Company currently operates through five business units: Sprott
Asset Management LP, Sprott Private Wealth LP, Sprott Consulting
LP, Sprott Resource Lending Corp. and Sprott U.S. Holdings Inc.
Sprott Asset Management is the investment manager of the Sprott
family of mutual funds and hedge funds and discretionary managed
accounts; Sprott Private Wealth provides wealth management services
to high net worth individuals; and Sprott Consulting provides
management, administrative and consulting services to other
companies. Sprott Resource Lending provides lending services to
mining and energy sectors. Sprott U.S. Holdings Inc. includes
Sprott Global Resource Investments Ltd, Sprott Asset Management
USA Inc., and Resource Capital
Investments Corporation. Sprott Inc. is headquartered in
Toronto, Canada, and is listed on
the Toronto Stock Exchange under the symbol "SII". For more
information on Sprott Inc., please visit www.sprottinc.com.
Forward-Looking Information
Certain statements in this press release contain forward-looking
information (collectively referred to herein as the
"Forward-Looking Statements") within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "may", "will", "project",
"should", "believe", "plans", "intends" and similar expressions are
intended to identify Forward-Looking Statements. In particular, but
without limiting the forgoing, this press release contains
Forward-Looking Statements pertaining to: (i) expectations
regarding the Funds, including their management by Mr. George and
anticipated cash flows; and (ii) expectations regarding continued
growth of the Company's U.S. business and the expansion of its
product and geographic diversity. Although the Company
believes that the Forward-Looking Statements are reasonable, they
are not guarantees of future results, performance or
achievements. A number of factors or assumptions have been
used to develop the Forward-Looking Statements, including: (i) the
impact of increasing competition in each business in which the
Company operates will not be material; (ii) quality management will
be available; and (iii) the effects of regulation and tax laws of
governmental agencies will be consistent with the current
environment. Actual results, performance or achievements
could vary materially from those expressed or implied by the
Forward-Looking Statements should assumptions underlying the
Forward-Looking Statements prove incorrect or should one or more
risks or other factors materialize, including: (i) adverse market
conditions; and (ii) those risks described under the heading "Risk
Factors" in the Company's annual information form dated
March 25, 2014. The
Forward-Looking Statements speak only as of the date hereof, unless
otherwise specifically noted, and the Company does not assume any
obligation to publicly update any Forward-Looking Statements,
whether as a result of new information, future events or otherwise,
except as may be expressly required by applicable Canadian
securities laws.
SOURCE Sprott Inc.