Acquires Three Funds from Arrow Capital Management
TORONTO, Feb. 18, 2014 /CNW/ - Sprott Asset Management LP ("Sprott") today announced that it has entered an exclusive sub-advisory agreement with Capital Innovations LLC ("Capital Innovations") to manage three funds ("the Funds") for Sprott. The funds will be managed by Michael Underhill and Susan Dambekaln, an experienced portfolio management team with a specialization in real assets investing. The team will manage the following funds for Sprott:
- Exemplar Global Infrastructure Fund
- Exemplar Timber Fund
- Exemplar Agriculture Fund
"Michael and Susan are experienced portfolio managers who have established a strong track record and demonstrated an ability to generate alpha for investors through portfolios comprised of liquid, larger-cap securities," said James Fox, President of Sprott Asset Management. "This agreement further diversifies our product lineup and improves our ability to offer Canadian investors a broad range of investment strategies."
"This is an exciting opportunity for us to partner with Sprott, which we believe is a good fit for the growth of our business going forward," said Michael Underhill, co-Founder of Capital Innovations. "There are tremendous investment opportunities in the global infrastructure, timber and agriculture sectors. We look forward to working with Sprott in continuing to provide the highest quality of education and service to Canadian retail and institutional investors seeking real asset investments."
Sprott acquired the management agreements for the Funds (pending unit holder and regulatory approval) from Blumont Capital Corporation, a wholly-owned subsidiary of Arrow Capital Management Inc. The Funds are all sub-advised by Capital Innovations and this relationship will continue with Sprott. Unit holder approval is required to complete the transaction and a vote is expected to take place in approximately 30 days. There will be no changes to the investment objectives and strategies of the Funds, which will be rebranded as Sprott products, nor any tax consequences to unit holders as a result of the transition.
About Capital Innovations LLC
Capital Innovations, LLC is a leading real assets manager, serving clients throughout North America, Europe and Asia. The group's specialized expertise and refined investment process seek to offer an efficient alternative for global Real Asset investors. Capital Innovations provides global and domestic specialized real asset investment management solutions. The Wisconsin-based asset manager provides these services to some of the largest public pension funds in the world and most sophisticated Sovereign Wealth Funds. It listed among its clients California Public Employees Retirement System (CalPERS) and China Investment Corporation (CIC). Capital Innovations has extensive experience managing assets across bank and insurance company platforms, and offers a wide variety of strategies. Many of our strategies on the general account (for insurance companies) side seek to focus on principal protection and consistent yield to complement our client's underwriting exposure. For retirement and sub-advisory clients, Capital Innovations offers companies and plan participants access to a diverse offering of investment products across the risk/return spectrum. In terms of investment vehicles, our partners offer multiple share class mutual funds, collective investment trusts and separate accounts available on leading record keeping platforms.
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.
SOURCE: Sprott Asset Management LP
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