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,
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."
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.
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.
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