Sprott Inc. Announces Preliminary 2011 Assets Under Management
07 Gennaio 2012 - 1:36AM
PR Newswire (Canada)
TORONTO, Jan. 9, 2012 /CNW/ - Sprott Inc. ("Sprott" or the
"Company") today announced its preliminary estimate
of Assets Under Management as at December 31, 2011
and its preliminary estimates of gross Performance Fees
and net sales for the year ended December 31, 2011. The Company
estimates that its Assets Under Management as at December
31, 2011 were approximately $9.1 billion. On a preliminary and
unaudited basis, the Company estimates that it
generated approximately $4 million in
gross Performance Fees for the year ended December 31,
2011, including amounts recognized in previous quarters. Net sales
for the year ended December 31, 2011 were estimated to be
approximately $1.4 billion. "In 2011, despite challenging and
volatile market conditions, we continued to grow our assets under
management and broaden our product shelf. On the year, we generated
approximately $1.4 billion in net sales, we increased our AUM by
$0.6 billion and we reported significant inflows to our line of
fixed income and physical bullion funds," said Peter Grosskopf, CEO
of Sprott. "However, the ongoing global financial crisis and
movement away from risk assets had the unforeseen effect of
dampening enthusiasm for precious metal equities, negatively
impacting our investment performance fee generation." "During the
year, we saw the benefits of the increased scale of our
organization," continued Mr. Grosskopf. "In 2012, we will continue
to drive the growth of our business by leveraging our platform to
add new investment managers and products." Forward-Looking
Statements This release contains "forward-looking statements" which
reflect the current expectations of the Company. These statements
reflect management's current beliefs with respect to future events
and are based on information currently available to management.
Forward-looking statements involve significant known and unknown
risks, uncertainties and assumptions. Many factors could cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements that
may be expressed or implied by such forward-looking statements
including, without limitation, those listed under the heading "Risk
Factors" in the Company's annual information form dated March 22,
2011. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results, performance or
achievements could vary materially from those expressed or implied
by the forward-looking statements contained in this release.
Although the forward-looking statements contained in this release
are based upon what the Company believes to be reasonable
assumptions, the Company cannot assure investors that actual
results, performance or achievements will be consistent with these
forward-looking statements. These forward-looking statements are
made as of the date of this release and the Company does not assume
any obligation to update or revise them to reflect new events or
circumstances. 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 four business units: Sprott Asset Management LP, Sprott
Private Wealth LP, Sprott Consulting LP, 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, including Sprott Resource Corp. , Sprott Resource
Lending Corp. and Sprott Power Corp. . Sprott U.S. Holdings Inc.
includes 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. Sprott Inc. CONTACT:
Investor contact information: (416) 203-2310 or 1 (877) 403-2310or
ir@sprott.com
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