Sprott Inc. Announces Preliminary 2012 Year End Assets Under
Management
TORONTO,
Jan. 10, 2013 /CNW/ - Sprott Inc.
(TSX: SII) ("Sprott" or the "Company") today announced its
preliminary estimate of Assets Under Management ("AUM"),
Performance Fees and net sales for the year ended December 31, 2012.
The Company estimates that Assets Under
Management as at December 31, 2012
were approximately $9.9 billion. On a
preliminary and unaudited basis, the Company estimates that it
generated approximately $8 million in
Performance Fees for 2012. Net sales for the year are estimated to
be approximately $1.2 billion.
"In 2012, we generated approximately
$1.2 billion in net sales, due
largely to the continued expansion of our physical bullion
franchise and the success of our fixed income products. On the
year, our AUM increased by $800
million to $9.9 billion," said
Peter Grosskopf, CEO of Sprott. "It
was a difficult year for several of our equity strategies, as
precious metal-related equities continue to trade at depressed
valuation levels. However, our private equity and private lending
businesses performed extremely well, and generated the majority of
our modest performance fees for the year."
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 at certain
publicly-traded companies managed by Sprott Consulting LP.
Performance Fees and AUM should not be considered alternatives to
performance measures determined in accordance with GAAP and may not
be comparable to similar measures presented by other issuers. Past
performance may not be indicative of future results.
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 27,
2012. 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. 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.