Sprott Asset Management LP proposes to change the investment objectives of Sprott Multi-Manager Fund, the company said Monday.

If the change in investment objectives is approved by unitholders and implemented by Sprott, the fund’s investment strategy would also change, while the management fee for Series A units and Series F units will be reduced by 0.25% and the fund’s name would change to Sprott Tactical Balanced Fund.

The proposed Sprott Tactical Balanced Fund would continue to provide exposure to a mix of investment strategies, but with greater asset class diversification by including Sprott’s recently launched fixed income funds for which Scott Colbourne and Michael Craig are portfolio managers. In addition, the fund would employ a more flexible and opportunistic asset allocation approach to seek to improve risk-adjusted return potential in a variety of market environments.

“We believe the proposed changes will benefit investors by providing them with greater asset class diversification, additional best-in-class portfolio managers, as well as a tactical asset allocation approach which will be driven by Sprott’s macroeconomic and market views,” says James Fox, president of Toronto-based Sprott Asset Management.

Sprott will seek unitholder approval for the proposed investment objective change at a special meeting to be held November 25.

If unitholder approval is obtained, Sprott proposes to change the investment objective of the fund effective November 30. Changes to the fund’s investment strategies, name, and management fees would also be effective November 30.

IE