TORONTO, Dec. 21, 2012 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott") today announced that the Sprott Physical Platinum and Palladium Trust (NYSE Arca: SPPP) (TSX: PPT.U), which is managed by Sprott Asset Management LP, has successfully completed a US$280 million initial public offering ("IPO").
"We are pleased to add the Sprott Physical Platinum and Palladium Trust to the suite of publicly-traded physical bullion products managed by Sprott Asset Management, which also includes the Sprott Physical Gold Trust and Sprott Physical Silver Trust," said Peter Grosskopf, Chief Executive Officer of Sprott. "Globally, investor demand for physical bullion continues to grow and, with this offering, our physical trusts now have more than $4.5 billion in total assets under management."
About the Sprott Physical Trusts
The goal of the Sprott Physical Trusts is to provide a secure, convenient and exchange-traded investment alternative for investors who want to hold physical bullion. The Trusts offer a number of advantages over traditional exchange-traded bullion funds, including potential tax advantages for certain U.S. investors. Each of the Trusts is listed on the NYSE Arca and Toronto Stock Exchange under the following symbols:
- Sprott Physical Gold Trust: (NYSE Arca: PHYS) (TSX: PHY.U)
- Sprott Physical Silver Trust: (NYSE Arca: PSLV) (TSX: PHS.U)
- Sprott Physical Platinum and Palladium Trust: (NYSE Arca: SPPP) (TSX: PPT.U)
To learn more about the Sprott Physical Trusts, please visit www.sprottphysicalbullion.com
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. Sprott Inc. is headquartered in Toronto, Canada, and its common shares are listed on the Toronto Stock Exchange under the symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.
SOURCE: Sprott Inc.
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