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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (1025)	4/22/2013 8:56:29 AM
From: Goose94	Read Replies (1) of 202988

Sprott (SII-T) funds not faring well For years Sprott asset manager Eric Sprott could do no wrong. Mr. Sprott, as a portfolio manager the Sprott Canadian Equity Fund, was generating yearly returns of about 30 per cent. Now that commodities and resource stocks have tanked, Mr. Sprott has lost more than a little of his reputation as the man with the Midas touch. Sprott Canadian Equity investors have lost nearly half their money over the past five years. The returns have been just as bad on many Sprott funds. Through March, three of the firm's hedge funds had lost at least 33 per cent of their value in the preceding 12 months -- and that was before last week's sharp decline in gold and silver prices. Last year Sprott's mutual, offshore and hedge funds suffered $539-million in redemptions. Sprott stock debuted in 2008 at $10 and only once did it trade at that price again. Unnamed sources say Mr. Sprott's exuberance for gold and silver led him to butt heads with those inside the firm who questioned this stance. Sprott is not the only firm hurting. AGF Management and IGM Financial are experiencing net redemptions too.

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