Sprott Asset Management plans to launch Sprott Global Equity Fund on April 25. The new fund will provide greater options for Canadians looking to increase their exposure to global markets.

The fund, an open-ended mutual fund trust, will launch at $10 per unit and with a minimum initial investment requirement of $5,000. It is expected to be eligible for registered tax plans and will be managed by the Sprott investment team.

The primary objective of the fund will be to achieve long-term capital growth by investing primarily in equity and equity-related securities of companies around the world. It will use a proprietary quantitative model to identify medium to large capitalization companies with the potential for capital appreciation over the long-term.

The fund will invest primarily in global companies with a minimum market capitalization at the time of investment of approximately US$1 billion. The fund may also choose other permitted investments, such as cash, when considered appropriate and may, subject to regulatory approval, short sell up to a maximum of 20%. The portfolio will be broadly diversified with geographical exposure across the globe.

Meanwhile Eric Sprott, CEO of Sprott Asset Management announced that Sylvain Ratelle, has joined the Spott investment team as investment strategist.

Ratelle has accumulated 20 years of experience in the investment industry while managing sizable equity portfolios in mutual funds, pension money and private client assets for divisions of various global asset management groups including Franklin Templeton Investments, State Street Global Advisors and BMO/Harris.

In 1999, Ratelle created and used his own proprietary quantitative model to successfully uncover exciting investment opportunities worldwide for global equity portfolios. He has been a disciplined portfolio manager over the years with a long-term approach. In his capacity at Sprott Asset Management, Ratelle will use his proprietary quantitative model to assist the investment team with the new Sprott Global Equity Fund.

Ratelle completed his bachelor’s degree in business administration, finance and economics at the HEC business school of University of Montreal in 1987. He earned his CFA designation in 1994 and his MBA, finance and international management in 1998, also from HEC.

Sprott Asset Management Inc. is a Toronto based private company with over $4.65 billion in assets under management primarily for institutions, endowments and high net worth individuals.