Business
Sprott Strategic Fixed Income Fund Closes $210 Million Initial Public Offering
Jul. 19, 2011 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR...
About this update from Sprott Inc.
[{"type":"text","content":"\n\n\n Jul. 19, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE\n UNITED STATES/\n\n\nTORONTO, July 19, 2011 /CNW/ - Sprott Asset Management LP ("Sprott") is\n pleased to announce that Sprott Strategic Fixed Income Fund (the\n "Fund") has completed its initial public offering of 21,000,000 units\n (the "Units") at a price of $10.00 per Unit.  The Units commence\n trading on the Toronto Stock Exchange on July 19, 2011 under the symbol\n SFI.UN.\n\n\n"We are pleased with the positive response we have experienced with this\n fund offering, says James Fox, President of Sprott. We continue to\n broaden our product shelf with unique and compelling income and\n balanced solutions. In only 14 months, Sprott's AUM in fixed income and\n balanced funds has grown from zero to almost $500 million, highlighting\n our success in hiring and partnering with Best-in-Class investment\n teams."\n\n\nThe Fund has been created to provide exposure, on a tax advantaged\n basis, to an actively managed portfolio (the "Portfolio") comprised\n primarily of long and short positions in fixed income securities from\n across the globe. In addition, Sprott will actively manage the\n Portfolio's currency exposure to both mitigate risk and enhance\n Portfolio returns. The Fund will obtain economic exposure to the\n Portfolio through a forward agreement. The individuals who will have\n p...