Business
Sprott Inc. Announces 2014 Second Quarter Results
TORONTO , Aug. 7, 2014 /CNW/ - Sprott Inc. (TSX: SII) ("Sprott" or the "Company") to...
About this update from Sprott Inc.
[{"type":"text","content":"\n\nTORONTO, Aug. 7, 2014 /CNW/ - Sprott Inc. (TSX: SII) (\"Sprott\" or the \"Company\") today announced its financial results for the three months ended June 30, 2014.\n\n Q2 2014 Financial Overview \n\n\nAssets Under Management (\"AUM\") were $7.8 billion as at June 30, 2014, compared to $7.1 billion as at June 30, 2013 and $7.7 billion as at March 31, 2014 \nAssets Under Administration (\"AUA\") were $2.6 billion as at June 30, 2014, compared to $2.6 billion as at June 30, 2013 and $2.7 billion as at March 31, 2014 \nManagement Fees were $20.1 million, reflecting a decrease of $1.3 million (6.3)% from the three months ended June 30, 2013 \nCommission revenues were $2.5 million reflecting an increase of $0.9 million (54.7%) from the three months ended June 30, 2013 \nInvested capital stood at $330.5 million, reflecting a $16.3 million (5.2%) increase from December 31, 2013 \nReturns on invested capital were $6.5 million during the second quarter of 2014\n\nInterest income was $3.8 million, reflecting an increase of $2.8 million from the three months ended June 30, 2013 \nUnrealized and realized gains on proprietary investments and loans were $2.7 million, reflecting an increase of $12.1 million from the three months ended June 30, 2013\nAdjusted base EBITDA was $6.8 million, reflecting a decrease of $1.2 million (14.6%) from the three months ended June 30, 2013 \nNet income was $5.0 million ($0.02 per share), reflecting an increase of $11.7 million from the three months ended June 30, 2013\nSignificant events for the three months ended June 30, 2014 and year-to-date 2014:\n\n\nAcquired three real assets focused funds sub-advised by Capital Innovations LLC and launched Sprott Real Assets Class \nLaunched Sprott Gold Miners ETF on the New York Stock Exchange \nSigned agreement with Bridging Finance Inc. to sub-advise the Sprott Bridging Income Fund LP \nCompleted secondary offering of 23 million shares previously held by a company controlled by Eric Sprott and announced proposed private placement of an additional five million shares to the Sprott employee trust\n\"Our fund performance continued to improve during the second quarter and first half of 2014, with many of our funds posting solid double-digit returns year-to-date,\" said Peter Grossko...