Sylvain Ratelle has left the management team for Sprott Global Equity Fund, Sprott Asset Management Inc. announced Friday.

Charles Oliver and Jamie Horvat, who are currently members of Sprott’s investment management team, will lead the team as senior portfolio managers of the fund. Oliver and Horvat are also on the investment management team for Sprott All Cap Fund and, together with John Embry, chief investment strategist, are on the investment management team for Sprott Gold and Precious Minerals Fund.

Prior to joining Sprott on January 31, 2008, Oliver and Horvat were co-managers of a number of AGF mutual funds. Eric Sprott continues to head up Sprott’s investment management team for all of the Sprott Mutual Funds.

There will be no change to the fundamental investment objective of the fund, the company says. However, in order to better reflect the investment style of Oliver and Horvat, effective immediately the investment strategies of the fund will be changed.

To achieve the fund’s investment objective, Sprott managers use an investment style that employs the GARP (growth at a reasonable price) approach. Sprott primarily uses a combination of a top down sector analysis of the current economic environment and a bottom up screening process for companies to seek to compose a broadly diversified portfolio. Sport focuses on seeking out companies with the potential for above average earnings, sales and cash flow. Positions are sought within sectors and countries that Sprott believes are positioned to do well within the current economic environment.

The fund’s investments will include small, medium and large cap companies located around the world, the company says. The fund may also invest in debt securities and convertible debentures. The fund may also choose other permitted investments such as cash when considered appropriate.

Sprott will transition the fund’s portfolio to reflect these new investment strategies and expects the changes to be completed by April 30.

IE