TORONTO, Nov. 17, 2017 (GLOBE NEWSWIRE) -- Sprott 2016-II Flow-Through Limited Partnership (the “Partnership”) announced that it will be proceeding with the tax-deferred transfer of the assets of the Partnership (the “Mutual Fund Rollover Transaction”) into Sprott Resource Class of Sprott Corporate Class Inc. The transaction will take place on or about January 25, 2018 after the close of business. In exchange for the assets, Series F shares of Sprott Resource Class will be issued to the Partnership and then distributed to individual limited partners on a dollar equivalent basis. The Partnership will be dissolved on or about January 26, 2018.
The Sprott Resource Class has had strong performance this year, with a year-to-date return of 8.37% as of October 31, 2017 outperforming its benchmark (Blended Index, see table below) by 11.40%. It has outperformed its benchmark posting a 3 year return of 19.76% (versus 1.13% index return) and 5 year return of 4.61% (versus a negative 3.22% index return).
| Fund Name | Code | Value Date | MTD | YTD | 3M | 6M | 1YR | 3YR | 5YR | SI | ||||||||
| Resource Class –F | SPR107 | 10/31/2017 | 10.16 | % | 8.37 | % | 16.32 | % | 9.10 | % | 11.08 | % | 19.76 | % | 4.61 | % | 0.57 | % |
| Blended Index* | 10/31/2017 | 1.73 | % | (3.03 | %) | 6.43 | % | (0.53 | %) | (1.34 | %) | 1.13 | % | (3.22 | %) | (2.88 | %) | |
All returns and fund details are a) based on Series F shares; b) net of fees; c) annualized if period is greater than one year; d) as at October 31, 2017. *Blended Index (50/50 S&P/TSX Capped Materials Total Return Index and S&P/TSX Capped Energy Total Return Index) and is computed by Ninepoint Partners LP based on available index information.
Sprott Resource Class’ investment objective is to seek to achieve long-term capital growth by investing primarily in equity and equity-related securities of companies in Canada and around the world that are involved directly or indirectly in the natural resource sector. Resource specialist Jason Mayer is the lead portfolio manager on the Fund.
About Ninepoint Partners LP
Ninepoint Partners is an expert active manager of specialty investment solutions, committed to helping investors explore innovative ways to manage portfolio risk, and advisors to differentiate their businesses with unique investment solutions. Based in Toronto, Ninepoint Partners LP is an operating company that has been created to assume portfolio management of the Canadian diversified assets of Sprott Asset Management LP, including actively managed hedge and mutual funds. The new firm oversees approximately $3 billion in assets under management.
Please visit www.ninepoint.com to learn more.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus of the relevant Fund 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 to 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 such Funds may be sold in their jurisdiction.
"Sprott" is a registered trademark of Sprott Inc. used under license.
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