Newly formed Winnipeg-based Sarbit Asset Management Inc. has filed a preliminary prospectus for its inaugural product offering, Sarbit U.S. Equity Trust. “Your initial product should be something you have some knowledge about, and U.S. equities is something I’ve been studying and investing in for 20 years,” says Larry Sarbit, the company’s founder and former manager of AIC Ltd.’s $2-billion American Focused Fund. The product will invest in publicly traded equities and may hold significant cash or fixed-income. “Our first goal is to preserve clients’ capital. We aim for high rates of return and low risk,” Sarbit says. Front-end commissions are 0%-6% with a 1% trailer, or 5% with a 0.5% trailer for deferred sales charges. Redemption fees are 6% in Year 1, declining to 3.5% in Year 6. Management fees are 2.25%, or 1.25% for F-class shares. Minimum investment is $1,000.
New firm launches U.S. equity trust
- By: Lara Hertel
- September 30, 2005 June 1, 2019
- 12:02