TORONTO, March 28, 2013 /CNW/ - Two of Sprott's investments funds:
Sprott Strategic Fixed Income Fund and Sprott Private Credit Trust (the
"Funds") utilize forward purchase and sale agreements to allow
unitholders to receive tax-advantaged distributions. The "Character
Conversion" measures proposed in the Federal Budget on March 21, 2013,
would affect certain tax benefits gained by taxable unitholders of
these investment funds. Based on its review to date, Sprott Asset
Management LP., the manager of the Funds, believes that the Funds'
current structure will be unaffected by the Character Conversion
measures until the expiration of the Funds' forward agreements (July
14, 2016 for Sprott Strategic Fixed Income Fund and January 3, 2017 for
Sprott Private Credit Trust). However, the manager awaits further
guidance from the Federal Government and will provide additional
details as they become available.
About Sprott Asset Management LP
Sprott Asset Management LP, a wholly owned subsidiary of Sprott Inc., is
an investment manager dedicated to achieving outstanding returns for
its investors over the long-term. With a history dating back to 1981,
Sprott has a team of leading investment professionals that think
independently and have the courage to act on their convictions. Our
clients include individual and high-net-worth investors, institutions
and endowments. Please visit us at www.sprott.com to learn more about our award-winning investment professionals and
their market insights.
Certain statements included in this news release constitute
forward-looking statements, including, but not limited to, those
identified by the expressions "expects", "intends", "anticipates",
"will" and similar expressions to the extent that they relate to the
Funds. 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 believse
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 doesn't 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.
SOURCE: Sprott Asset Management LP
For further information:
For more information on Sprott, please visit www.sprott.com or for inquiries regarding the Funds, please contact us at (416) 362-7172 or (866) 299-9906 or firstname.lastname@example.org.