Senior portfolio manager Jean-Francois Tardif has expressed his intention to retire, effective July 7, Sprott Asset Management Inc. said Tuesday.

Tardif currently leads the investment management team for Sprott Opportunities Hedge Fund L.P., Sprott Opportunities Offshore Fund Ltd., Sprott Opportunities Capital Fund, L.P. and Sprott Opportunities RSP Fund. To ensure a smooth transition of his duties and responsibilities, Tardif will remain with the firm until July 7.

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 funds and will continue to be supported by the existing analyst team for the funds, the company says.

Oliver and Horvat are also on the investment management team for Sprott All Cap Fund, Sprott Global Equity Fund and Sprott Gold and Precious Minerals Fund.

Prior to joining Sprott on Jan. 31, 2008, Oliver and Horvat were co-managers of a number of AGF mutual funds overseeing in excess of $4 billion of assets under management.

There will be no change to the fundamental investment objectives or the investment strategies of any of the funds as disclosed in the offering documents of those funds, Sprott says.

IE