TORONTO, Jan. 20, 2014 /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,
2013.
The Company estimates that Assets Under
Management as at December 31, 2013
were approximately $7.0 billion. On a
preliminary and unaudited basis, the Company estimates that it
generated approximately $5.0 million
in Performance Fees for 2013, including amounts recognized in
previous quarters and after payments to sub-advisors.
"Our Assets Under Management declined in 2013 as
the downturn in the natural resource sector took a toll on some of
our larger strategies," said Peter
Grosskopf, Chief Executive Officer of Sprott. "Looking
ahead, our key priorities include continuing to diversify our
Canadian platform, capitalizing on international opportunities in
the resource sector and building scale in our institutional
business."
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 26,
2013. 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 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.
SOURCE Sprott Inc.