Sprott Asset Management Inc.

Sprott Asset Management Inc.

November 20, 2006 16:01 ET

Sprott Asset Management Inc. Announces Sub-Advisory Changes

TORONTO, ONTARIO--(CCNMatthews - Nov. 20, 2006) - Sprott Asset Management Inc. today announced sub- advisory changes to the Sprott Energy Fund. Effective November 20, 2006 Whitley Energy Capital Partners L.P. Houston, Texas will no longer provide sub-advisory services to the Sprott Energy Fund.

Sprott Asset Management Inc. will continue to act as the Portfolio Adviser to the Sprott Energy Fund (the "Fund'). Mr. Eric Sprott, Chief Investment Officer will continue to be the Lead Portfolio Manager of the Fund.

There will be no change to the investment objective or investment strategies of the Sprott Energy Fund.

The Sprott Energy Fund seeks to achieve long-term capital growth. The Fund invests primarily in equity and equity-related securities of companies that are involved directly or indirectly in the exploration, development, production and distribution of oil, gas, coal, uranium and other related activities in the energy and resource sector.

Sprott Asset Management Inc. (www.sprott.com) is a Toronto based private company with over $3.9 billion in assets under management primarily for institutions, endowments and high net worth individuals. Sprott Asset Management Inc. is the investment manager of the Sprott Energy Fund, Sprott Gold and Precious Minerals Fund, Sprott Canadian Equity Fund, Sprott Growth Fund, Sprott Bull/Bear RSP Fund, Sprott Hedge Fund LP, Sprott Hedge Fund LP II, Sprott Opportunities Hedge Fund LP and Sprott Opportunities RSP Fund.

Contact Information

  • Sprott Asset Management Inc.
    Neal Nenadovic
    Chief Financial Officer
    (416) 943-6707
    or
    Sprott Asset Management Inc.
    James Fox
    Vice President, Sales
    (416) 943-6707
    or
    Sprott Asset Management Inc.
    Client Services
    (416) 943-6707 or 1-866-299-9906
    Email: invest@sprott.com
    Website: www.sprott.com