TORONTO, Jan. 22, 2015 /CNW/ - Sprott Inc. (TSX: SII)
("Sprott" or the "Company") today announced its preliminary
estimate of Assets Under Management ("AUM") and Performance Fees
for the year ended December 31,
2014.
The Company estimates that Assets Under Management as at
December 31, 2014 were approximately
$7.0 billion. On a preliminary and
unaudited basis, the Company estimates that it generated
approximately $4.0 million in
Performance Fees for 2014, including amounts recognized in previous
quarters and after payments to sub-advisors.
"We continued to realize the benefits of our diversification
efforts during 2014, as our AUM remained largely unchanged from the
prior year, despite the weakness in natural resources and our
related funds," said Peter
Grosskopf, CEO of Sprott. "Over the course of the year, we
successfully built scale in our Enhanced Products line and expanded
our passive product offerings with the launch of our first ETF, the
Sprott Gold Miners ETF ("SGDM"), which has grown to more than
$225 million in assets since its
inception last July."
"In 2015, we will continue to reposition our Canadian
diversified business while actively seeking opportunities to grow
our international resource business and expand our institutional
client base," added Mr. Grosskopf.
Forward-Looking Statements
Certain statements in this news 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 news release contains
Forward-Looking Statements pertaining to: (i) estimated AUM and
Performance Fees; and (ii) continued repositioning of Sprott's
Canadian diversified business while actively seeking opportunities
to grow the Company's international resource business and expand
its institutional client base. Although Sprott 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) the results of the year-end audits; and (iii)
quality management will be available. 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) difficult market conditions; (ii) changes in the
investment management industry; (iii) failure to continue to retain
and attract quality staff; (iv) competitive pressures; (v)
corporate growth may be difficult to sustain and may place
significant demands on existing administrative, operational and
financial resources; (vi) historical financial information is not
necessarily indicative of future performance; and (vii) those risks
described under the heading "Risk Factors" in Sprott's annual
information form dated March 27,
2014. The Forward-Looking Statements speak only as of the
date hereof, unless otherwise specifically noted, and Sprott 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.
Performance Fees
All performance fee figures included in this release are based
on preliminary, unaudited estimates and are subject to adjustments
which may result due to factors including, but not limited to, the
completion of year-end audits. Performance Fees and AUM should not
be considered alternatives to performance measures determined in
accordance with IFRS and may not be comparable to similar measures
presented by other issuers. Past performance may not be indicative
of future results.
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 TMX Equicom