TORONTO, July 16, 2012 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce the launch of the Sprott Flatiron Yield Trust, Sprott's newest specialty income product.
The Trust will focus primarily on Canadian convertible arbitrage and is designed to generate positive monthly performance with a low correlation to both traditional equities and fixed-income investments. The Trust will be co-managed by Steve Duenkler and Parm Kalirai, co-founders of Flatiron Capital Management, which will act as sub-advisor to the Trust.
"Steve and Parm are one of the leading convertible arbitrage teams in the country. They have established an impressive long-term track record, with their strategy delivering positive monthly returns 85% of the time," said Peter Grosskopf, CEO of Sprott Inc. "We are pleased to be able to offer our clients an innovative new product that is ideally suited to today's volatile market conditions."
Mr. Duenkler and Mr. Kalirai have been successfully managing convertible arbitrage strategies for more than 12 years.
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.
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.
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