TORONTO, Oct. 31, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce that the Sprott Flatiron Canadian Convertible Strategies Trust ("the Fund") has filed a preliminary prospectus in connection with its offering of trust units. Receipt for the preliminary prospectus has been issued by the securities commissions and regulatory authorities in each of the provinces and territories of Canada.
The Fund has been created to provide exposure, on tax-advantaged basis, to an actively managed diversified portfolio ("the Portfolio") designed to be equity market neutral and focused primarily on convertible debentures and warrants of Canadian issuers.
Investment Objective of the Fund
The Fund's investment objectives are: to provide attractive risk-adjusted returns with low correlation to traditional equity and fixed-income indices; and to provide monthly tax-advantaged distributions.
The Portfolio will be co-managed by Steve Duenkler and Parm Kalirai, co-founders of Flatiron Capital Management Partners, which will act as sub-advisor to the Fund. Mr. Duenkler and Mr. Kalirai have been successfully managing convertible arbitrage strategies for more than 12 years.
The offering is being made through a syndicate of agents led by RBC Capital Markets and CIBC and including TD Securities Inc., GMP Securities Ltd., National Bank Financial, BMO Capital Markets, Canaccord Genuity Corp., Macquarie Private Wealth Ltd., Raymond James Ltd., Scotiabank, Desjardins Securities Inc. and Mackie Research Capital Corporation.
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.
A preliminary prospectus containing important information relating to these securities has been filed with the securities regulatory authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from RBC Capital Markets at 416.842.7676. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued."
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 these Funds may be sold in their jurisdiction.
SOURCE: Sprott Asset Management LP
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