Sprott Asset Management Inc., the portfolio advisor to Sprott Funds, announced on Tuesday the upcoming launch of the Sprott Global Equity Fund on April 25.

The new fund will provide greater options for Canadians looking to increase their exposure to global markets. “Sprott recognizes the need for depth of choice across various asset classes and global markets for advisors and their clients,” said a release issued by the company.

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,” says the release. “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.”

In related news, Sprott also announced on Tuesday that Sylvain Ratelle has joined the Sprott 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, Sylvain 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, Sylvain will use his proprietary quantitative model to assist the Sprott investment team with the new Sprott Global Equity Fund.