Peter Hodson is joining the Sprott Asset Management Inc. (SAM) investment team as an investment strategist, effective immediately.

Hodson joins SAM with over 18 years of experience in the investment industry, having recently acted as vp portfolio management for CI Investments and lead portfolio manager of the $64 million CI Signature Canadian Small Cap Class Fund and the $211 million CI Explorer Fund.

Hodson was also at a Toronto-based hedge fund company, Waterfall Investments Inc. for a period, before returning to CI in 2005. Prior to these recent experiences, Hodson was a portfolio manager at Synergy Funds from its inception in 1997 to 2003 when CI Investments acquired Synergy.

“We believe Peter Hodson will bring a new dynamic to our investment management team at SAM as we continue to strengthen our expertise and depth for uncovering valuable investment ideas for Sprott Funds,” the company said in a release.

SAM also announced the launch of Sprott Growth Fund, which is expected to occur in early January 2006. The fund will launch with a minimum initial investment requirement of $5,000 and is expected to be eligible for registered tax plans.

The new fund will seek to achieve long-term capital growth by investing primarily in growth-orientated equities of North American companies.

SAM said the new fund will differ from other Sprott Mutual Funds in its investment strategy and style. The new fund will encompass a bottom-up approach to securities selection with less emphasis on macro-economic indicators.