Introduces Sprott Bridging Income Fund LP
TORONTO, July 28, 2014 /CNW/ - Sprott Asset Management LP ("Sprott")
today announced that it has entered a sub-advisory agreement with
Bridging Finance Inc. ("Bridging Finance") to manage the Sprott
Bridging Income Fund LP ("the Fund"). Bridging Finance is a private
investment management company specializing in factoring.
"We are pleased to offer our clients another unique investment solution
designed to complement traditional income portfolios," said John
Wilson, CEO of Sprott. "The Bridging Finance team has proven expertise
in factoring, a specialized type of commercial lending that provides
improved cash flow to businesses with credit-worthy receivables. This
new offering will both expand our product lineup and enhance our
established lending platform."
The Fund targets a minimum yield of 6.5% per annum by investing in
factoring and asset-backed loans that have a low correlation to
traditional asset classes. The Fund also has the ability to provide
debt capital to middle-market Canadian and U.S. companies unable to
access traditional financing sources. This is an asset class that
traditionally has been difficult for individual investors to access.
"Sprott has established a leadership position in distributing
alternative lending solutions to Canadian investors. We are excited to
work with them to introduce this product to investors seeking
consistent yield and stable income, which can be difficult to attain,
particularly in a low-interest rate environment," said David Sharpe,
President and COO of Bridging Finance.
"The investment fund landscape continues to quickly evolve along with
the needs and sophistication of investors. Sprott will continue to be a
leading provider of actively-managed solutions," said Peter Loach,
Executive Vice President of Product Development at Sprott.
About Sprott Asset Management
Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com), is a fund company dedicated to achieving superior returns for its
investors over time. Sprott Asset Management LP manages assets
primarily for institutions, endowments and high net worth individuals
and is the investment manager of the Sprott Mutual Funds. Commissions,
trailing commissions, management fees and expenses all may be
associated with mutual fund investments. Please read the prospectus
before investing. Mutual funds are not guaranteed, their values change
frequently and past performance may not be repeated. The information
contained herein does not constitute an offer or solicitation by anyone
in the United States or in any other jurisdiction in which such an
offer or solicitation is not authorized or to any person to whom it is
unlawful to make such an offer or solicitation. Prospective investors
should consult their financial advisor to determine if the Sprott
Mutual Funds may be sold in their jurisdiction.
About Bridging Finance Inc.
Bridging is a privately held Canadian company providing middle-market
Canadian companies with alternatives to the financing options offered
by traditional lenders. Lending proceeds are used by companies to
address short-term needs such as restructuring existing debt, providing
working capital for growth, supporting inventory purchases and
financing expenditures and acquisitions/buyouts.
SOURCE: Sprott Asset Management LP
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