TORONTO, Jan. 20, 2016 (GLOBE NEWSWIRE) -- Sprott Inc. (TSX:SII) ("Sprott" or the "Company") today announced its preliminary estimate of Assets Under Management (“AUM”) and Performance Fees for the year ended December 31, 2015.
The Company estimates that AUM as at December 31, 2015 was approximately $7.4 billion. On January 15, 2016, Sprott Asset Management LP, together with Sprott Physical Gold Trust, completed its exchange offer for Central GoldTrust. This transaction increased Sprott’s AUM by approximately $1.1 billion, resulting in total year-to-date 2016 AUM of approximately $8.5 billion.
On a preliminary and unaudited basis, the Company estimates that it generated approximately $3.0 million in net Performance Fees for 2015, including amounts recognized in previous quarters and after payments to sub-advisors.
Forward-Looking Statements
Certain statements in this news release contain forward-looking information (collectively referred to herein as the “Forward-Looking Statements”) within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", “continue”, “estimate”, “may”, “will”, “project”, "should", "believe", "plans", “intends” and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this news release contains Forward-Looking Statements pertaining to estimated AUM and Performance Fees. Although Sprott believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including the results of the year-end audits. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) changes in the investment management industry; (ii) historical financial information is not necessarily indicative of future performance; and (iii) those risks described under the heading "Risk Factors" in Sprott’s annual information form dated March 27, 2015. The Forward-Looking Statements speak only as of the date hereof, unless otherwise specifically noted, and Sprott does not assume any obligation to publicly update any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable Canadian securities laws.
Performance Fees
All performance fee figures included in this release are based on preliminary, unaudited estimates and are subject to adjustments which may result due to factors including, but not limited to, the completion of year-end audits at certain publicly-traded companies managed by Sprott Consulting LP. Performance Fees and AUM should not be considered alternatives to performance measures determined in accordance with IFRS and may not be comparable to similar measures presented by other issuers. Past performance may not be indicative of future results.
About Sprott Inc.
Sprott Inc. is a global independent asset manager dedicated to achieving superior returns for its clients over the long term. The Company operates primarily through five business units: Sprott Asset Management LP; the Global Companies; Sprott Resource Lending Corp.; Sprott Consulting LP; and Sprott Private Wealth LP. Sprott Inc. is headquartered in Toronto, Canada and is listed on the Toronto Stock Exchange under the symbol "SII". For more information on Sprott Inc., please visit www.sprottinc.com.