TORONTO, Jan. 9, 2012 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott" or the
"Company") today announced its preliminary estimate
of Assets Under Management as at December 31, 2011 and its preliminary
estimates of gross Performance Fees and net sales for the year ended
December 31, 2011.
The Company estimates that its Assets Under Management as at December
31, 2011 were approximately $9.1 billion. On a preliminary and
unaudited basis, the Company estimates that it generated approximately
$4 million in gross Performance Fees for the year ended December 31,
2011, including amounts recognized in previous quarters. Net sales for
the year ended December 31, 2011 were estimated to be approximately
"In 2011, despite challenging and volatile market conditions, we
continued to grow our assets under management and broaden our product
shelf. On the year, we generated approximately $1.4 billion in net
sales, we increased our AUM by $0.6 billion and we reported significant
inflows to our line of fixed income and physical bullion funds," said
Peter Grosskopf, CEO of Sprott. "However, the ongoing global financial
crisis and movement away from risk assets had the unforeseen effect of
dampening enthusiasm for precious metal equities, negatively impacting
our investment performance fee generation."
"During the year, we saw the benefits of the increased scale of our
organization," continued Mr. Grosskopf. "In 2012, we will continue to
drive the growth of our business by leveraging our platform to add new
investment managers and products."
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 22, 2011. 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 four business units: Sprott Asset
Management LP, Sprott Private Wealth LP, Sprott Consulting LP, 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, including Sprott Resource Corp. (TSX: SCP), Sprott
Resource Lending Corp. (TSX: SIL) (NYSE AMEX: SILU) and Sprott Power
Corp. (TSX: SPZ). Sprott U.S. Holdings Inc. includes 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.
For further information:
Investor contact information: (416) 203-2310 or 1 (877) 403-2310 or firstname.lastname@example.org