Toronto-based Sprott Asset Management LP (SAM) announced the launch on Thursday of four new corporate-class funds managed by Dennis Mitchell, senior portfolio manager, who joined the firm in September after leaving his role as chief investment officer and executive vice president at Sentry Investments Inc., also of Toronto, this past summer.
“We are extremely pleased to offer our clients access to Dennis’s focused investment strategy, which is designed to build concentrated portfolios of high-quality businesses that will generate superior risk-adjusted returns over the long term,” says John Wilson, CEO of SAM, in a statement. “Dennis has an excellent long-term track record executing this strategy, which we believe will complement our existing offerings and provide our clients with a broader range of investment choices.”
“I believe strongly in building concentrated portfolios of high-quality businesses when they offer sufficient return potential for the risk incurred,” adds Mitchell in the statement. “I think that this is the best way to generate strong, risk-adjusted returns for clients over the long term and I look forward to working with new and existing Sprott clients to help them achieve their investment goals.”
The new Sprott that make up the Focused Strategy Funds are: Sprott U.S, Focused Dividend Class; Sprott U.S. Focused Balanced Class; Sprott Global Focused Dividend Class; and Sprott Global Focused Balanced Class.
All of the portfolios will pay a monthly distribution to unitholders.
Mitchell has more than a decade of experience in the financial industry. He is a three-time winner of a Brendan Wood International Canadian TopGun Award (2009, 2010 and 2011), given by the sell-side community to those with the best grasp of the industries in which they invest and the most influence in the Canadian market. Mitchell is also a winner of the Brendan Wood International 2012 Canadian TopGun Team Leader.