TORONTO, Jan. 20, 2015 /CNW/ - Sprott Asset Management LP
and Sprott Inc. (TSX:SII) announced today that as part of the
previously communicated transition strategy, Eric Sprott is stepping down as lead portfolio
manager on the Sprott Canadian Equity Fund, Sprott Canadian
EquityClass, Sprott Hedge Fund LP, Sprott Hedge Fund LP II and
Sprott Bull/Bear RSP Fund. The company also announced portfolio
management changes to certain other Sprott funds.
"Over the course of more than 40 years in the investment
business, Eric established himself as one of Canada's greatest investors," said
Peter Grosskopf, CEO of Sprott Inc.
"As he transitions away from day-to-day fund management, Eric will
continue to serve as Chairman of the Sprott Inc. Board of Directors
and represent the company to clients and shareholders. Eric remains
Sprott's largest shareholder and he and his family are among our
largest clients."
Effective immediately, Jonathan
Wiesblatt and James Bowen
will assume co-lead portfolio management duties for the Sprott
Canadian Equity Fund and the Sprott Canadian Equity Class.
Jason Mayer and Maria Smirnova will join the portfolio
management team for the Sprott Hedge Fund LP, Sprott Hedge Fund LP
II and the Sprott Bull/Bear RSP Fund, alongside Senior Portfolio
Manager Paul Wong.
"Over the years we have evolved from a founder-led organization
into a diversified alternative asset manager. However, we remain
committed to doing things differently and providing our clients
with access to innovative investment products that they can't find
elsewhere, " said John Wilson, CEO
of Sprott Asset Management. "While the new portfolio management
teams have their own unique views on how to deliver superior
performance to investors, they will continue to manage the funds in
the value-added, contrarian fashion established under Eric's
leadership."
Portfolio Management Changes
Sprott also announced today that, effective immediately, the
team of Paul Wong, Jason Mayer and Maria
Smirnova has assumed portfolio management duties for the
following funds:
- Sprott Gold and Precious
Minerals Fund and Sprott Gold and
Precious Minerals Class
- Paul Wong, Lead Portfolio
Manager
- Jason Mayer and Maria Smirnova, Portfolio Managers
- Sprott Resource Class
- Jason Mayer, Portfolio
Manager(with Eric Nuttall and
Paul Wong, Portfolio Managers and
Rick Rule, Investment
Strategist)
- Sprott Silver Equities Class; Sprott Silver Bullion Fund,
Sprott Silver Bullion Class; Sprott
Gold Bullion Fund; Sprott Gold Bullion
Class
- Maria Smirnova, Portfolio
Manager
The new precious metals team provides investors with access to a
variety of skillsets including technical analysis, stock picking
and fundamental research. They are supported by Sprott's broader
research and technical teams, which include both precious metals
strategists and economic geologists. The objectives and strategies
of the funds will remain the same.
Sprott also announced today that Charles
Oliver has left the firm to pursue other opportunities. We
wish him the best in his future endeavours.
Portfolio Manager Bios
James Bowen joined Sprott
Asset Management in December 2014
with more than 10 years of investment management experience with a
background in portfolio construction, valuation analysis, financial
modelling and security selection. Prior to joining Sprott,
James was a Portfolio Manager with JC Clark Ltd. Prior to that, he
worked as a securities analyst and portfolio manager at Adaly
Investment Management, and held research and investor services
positions at Strategic Advisors and the Royal Bank. James is a
graduate of the University of Waterloo
and is a CFA Charterholder.
Jonathan Wiesblatt joined
Sprott Asset Management in December
2014 and brings more than 10 years of investment management
experience with a focus on North American equities across various
sectors. Prior to joining Sprott Jon
was a Portfolio Manager with JC Clark Ltd. Prior to that, he spent
8 years as a securities analyst and portfolio manager with Adaly
Investment Management Corp. Jon began his investment career as a
sell-side equity analyst at a Canadian-based investment bank
covering companies in the consumer, technology and materials
sectors. Jon is a graduate of the University of Western Ontario and holds the
designation of Chartered Investment Manager.
Paul Wong joined Sprott
Asset Management in 2011 with more than 20 years of experience in
the investment industry. He has been a portfolio manager
responsible for the short positions of the Sprott hedge funds since
2012. Previously, he was a Portfolio Manager with Natcan Investment
Management, where he managed three natural resource-related funds
with more than $350 million in
combined assets. Paul earned his Bachelor of Science in
Geology from the University of Toronto
and is a CFA charterholder.
Jason Mayer joined Sprott
Asset Management in November
2012. Jason has more than 10 years of investment industry
experience and joined Sprott from Middlefield Capital Corporation,
where he acted as lead portfolio manager on a number of investment
funds with a focus on growth-oriented resource equities.
Jason is an MBA graduate of the Schulich School of Business
and is a CFA charterholder.
Maria Smirnova joined
Sprott Asset Management in May
2005. Maria is a portfolio manager with more than 15 years
of experience in the financial services industry. She has been part
of the Sprott precious metals team since since 2007 and has been a
portfolio manager on the Sprott Silver Equities Class since its
inception in 2012. Maria began her career at Excel Funds Management
as Operations Manager, and subsequently worked in Product
Development at Fidelity Investments. Maria graduated with
distinction from the University of
Toronto with a Bachelor of Commerce degree and has been a
CFA charterholder since 2002. She graduated as a Bregman Scholar
from the University of Toronto's MBA
program in 2005.
About Sprott Asset Management
Sprott Asset Management
LP is a leading alternative asset manager headquartered in
Toronto, Canada. The company
manages the Sprott family of mutual funds, hedge funds, specialty
products, and passive products. The company also manages
discretionary managed accounts. Please visit www.sprott.com to
learn more.
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
primarily through six business units: Sprott Asset Management LP,
Sprott Private Wealth LP, Sprott Consulting LP, Sprott Resource
Lending Corp., Sprott Toscana 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 and Sprott
Toscana provide 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.
SOURCE Sprott Inc.