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Market: TSX
Sector: Investment Services
Epic: SPROTT
News: Latest news
Web Site: Sprott Asset Management
Other Articles: 11-03-201022-01-201011-09-2009 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Sprott Asset Management

Sprott Asset Management

Founded in August 2000, Sprott Asset Management Inc. (SAM) is a private independent fund company, owned by its employees, dedicated to achieving superior returns for its investors over time.
Thursday, March 11, 2010

Sprott Gold and Precious Minerals Fund delivers 113% return in 2009

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Full year results from Sprott Inc (TSX:SII) the consulting, private wealth and asset management company, showed a sharp drop in net income and EBITDA (earnings before interest, tax, depreciation, amortisation), but assets under management rose by $436 million to $4.77 billion in the final quarter of 2009. The increase during the quarter reflected a combination of net redemptions of $68.0 million and net market value appreciation of portfolios of $504 million.


Financial highlights for the year included base EBITDA of $33.7 million (2008: $57.1 million), net income of $31.8 million (2008: $52.1 million) and earnings per share of 21 cents (2008:36 cents).  Total revenue for the year decreased by 35% to $107.5 million (2008:$165.8 million). Management fees for 2009 were $88 million, down 29% on 2008. Management fee margins “remained fairly constant at 2%” during 2009.  Total expenses for 2009 were $62.4 million, a decrease of $24.1 million, or 28%


During 2009 Sprott underwent reorganization, splitting its operations into three divisions: wealth management, asset management and consulting.  Since the end of 2009, Sprott has launched two additional funds, the Sprott Physical Gold Trust and Sprott 2010 Flow-Through Limited Partnership.


"As the markets rallied in 2009, the majority of our long funds outperformed their benchmarks, some by a wide margin, while most of our hedge funds were constrained by their short positions during the year, limiting them to modest returns,” Eric Sprott, CEO of Sprott Inc summarized.


One of the highlights for the group in 2009 was the Sprott Gold and Precious Minerals Fund, which posted a return of 113%.

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