Sprott Asset Management L.P.

Sprott Asset Management L.P.

October 09, 2009 13:18 ET

Sprott Asset Management L.P. Renames and Opens Multi-Manager Fund to Retail Network and Introduces New Purchase Option for Certain Sprott Mutual Funds

TORONTO, ONTARIO--(Marketwire - Oct. 9, 2009) - Sprott Asset Management L.P. ("SAM") announced today that it will be changing the name of the FNSSC-Multi Manager Fund (the "Fund") to "Sprott Multi-Manager Fund" and expanding the distribution of the Fund to include all investors through the offering of various series of units of the Fund with different purchase options, effective November 2, 2009.

The Fund is currently only available to members of the member societies that make up the Federation of National Specialty Societies of Canada ("FNSSC"), and any other persons as determined in accordance with the referral agreement between FNSSC and SAM ("Members"). Effective November 2, 2009, Series A units of the Fund held by Members will be reclassified as Series D units of the Fund, and new series of units of the Fund will be created to be offered to investors other than Members.

In addition, effective November 2, 2009, SAM will be introducing a new purchase option for investors investing in Series A units – the Low Load Option. This Low Load Option will be applicable to:

Sprott Multi-Manager Fund
Sprott Canadian Equity Fund
Sprott Gold and Precious Minerals Fund
Sprott Energy Fund
Sprott Growth Fund
Sprott Global Equity Fund
Sprott Small Cap Equity Fund
Sprott All Cap Fund

Under the Low Load Option, SAM will pay a commission to the investor's dealer (if that dealer is not Sprott Private Wealth L.P.), when the investor subscribes for Series A units and will pay an annual service fee for the services provided by the dealer to the investor. The investor may be required to pay a deferred sales charge if that investor redeems, switches or reclassifies Series A units within 3 years of purchase. Full details of the Low Load Option will be disclosed in the relevant simplified prospectuses (or amendments thereto), which can be obtained at www.sprott.com or at www.sedar.com.

Sprott Asset Management L.P. (www.sprott.com), together with its affiliates and related entities, provides management and investment advisory services to many entities, including the Sprott Mutual Funds, the Sprott Hedge Funds, the Sprott Offshore Funds, the Sprott discretionary managed accounts, and management of certain companies, such as Sprott Resource Corp.

Contact Information

  • For further information,
    please contact your financial advisor directly or contact
    Sprott Private Wealth L.P
    Sales and Client Relations Department
    (416) 943-6707 or Toll-Free: 1-866-299-9906