Sprott Makes Market Neutral Offering

Mar 3 2008 | 12:00am ET

Toronto-based Sprott Asset Management last month launched a new hedge fund aimed at Canadian investors. Sprott’s Global Market Neutral Fund, a long/short equity vehicle designed as an open-ended mutual fund trust, launched with C$15 million (US$15.2 million).

Global Market Neutral employs a global quantitative strategy, investing in companies with market capitalizations of at least US$1 billion, according to fund documents.  Its portfolio will be diversified by both sector and geography.

The fund charges a 2% management fee and a 20% incentive fee, with a minimum investment requirement of C$25,000 (US$25,300) for accredited investors and C$150,000 (US$151,900) for non-accredited investors. Its prime broker is Scotia Capital.

Founded in August 2000, Sprott Asset Management manages over C$6 billion (US$6.1 billion) in assets among its various long/short equity strategies, mutual funds and managed accounts.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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