Sprott AM adds to its product shelf

Toronto-based Sprott Asset Management LP has launched two new products – Sprott Enhanced Equity Class Fund and Sprott Enhanced Balanced Fund. Both aim to generate returns through covered-call options and asset-allocation strategies. Sprott Enhanced Equity Class Fund seeks long-term capital growth by investing primarily in Canadian and U.S. equities. Sprott Enhanced Balanced Fund seeks long-term capital growth and current income by investing primarily in Canadian equities, fixed-income securities of Canadian issuers, foreign equities and foreign fixed-income securities; its fixed-income component consists predominantly of investment-grade corporate debt and government securities. For both funds, advisor commissions are 0%-5% for front-end sales and 2.5% for the low-load option. Redemption fees begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Trailing commissions are 1% for front-end sales, and up to 0.75% for the first three years of low-load sales and 1% thereafter. For Sprott Enhanced Equity Class Fund, management fees are 2% for A-class units and 1% for F-class units. For Sprott Enhanced Balanced Fund, management fees are 1.9% for A-class units and 0.9% for F-class units. Minimum investment is $1,000 for each fund.

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