Sprott Asset Management LP Announces Sprott Strategic Fixed Income Fund

TORONTO, June 3, 2011 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce that the Sprott Strategic Fixed Income Fund (the "Fund") has filed a preliminary prospectus in connection with its offering of trust units. Receipt for the preliminary prospectus has been issued by the securities commissions and regulatory authorities in each of the provinces and territories of Canada.

The Fund has been created to provide exposure, on a tax-advantaged basis, to an actively managed portfolio comprised of long and short positions in fixed income securities from across the globe.

Investment Objective of the Fund

The Fund's investment objective is to maximize absolute total returns with lower volatility relative to traditional, long only bond funds and to provide monthly, tax-advantaged distributions for investors.

Fixed Income Expertise

The Fund will be managed by a seasoned fixed income team led by Scott Colbourne, a four time Morningstar award winner. Scott has over 23 years of fixed income and currency investment experience. Michael Craig, Portfolio Manager, and Ben Chim, Credit Strategist are also part of the team.

Agents The offering is being made through a syndicate of agents led by RBC Capital Markets, CIBC World Markets Inc. and TD Securities Inc., and including BMO Capital Markets, National Bank Financial Inc., Canaccord Genuity Corp., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Scotia Capital Inc., GMP Securities LP, Wellington West Capital Markets Inc., Desjardins Securities Inc., Macquarie Private Wealth Inc. and Manulife Securities Incorporated.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ''expect,'' ''intend,'' "will" and similar expressions to the extent that they relate to the Fund. The forward-looking statements are not historical facts but reflect Sprott's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sprott believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sprott does not undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

A PRELIMINARY  PROSPECTUS CONTAINING IMPORTANT INFORMATION RELATING TO THESE SECURITIES HAS BEEN FILED WITH SECURITIES COMMISSIONS OR SIMILAR AUTHORITIES IN ALL THE PROVINCES AND TERRITORIES OF CANADA. THE PRELIMINARY PROSPECTUS IS STILL SUBJECT TO COMPLETION OR AMENDMENT. COPIES OF THE PRELIMINARY PROSPECTUS MAY BE OBTAINED FROM ONE OTH DEALERS NOTED ABOVE. THERE WILL NOT BE ANY SALE OR ANY ACCEPTANCE OF AN OFFER TO BUY THE SECURITES UNTIAL A RECEIPT FOR THE FINAL PROSPECTUS HAS BEEN ISSUED.



SOURCE Sprott Asset Management LP

For further information:

on Sprott Asset Management LP please visit www.sprott.com or contact us at (416) 362-7172 or (866) 299-9906 or invest@sprott.com

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