Quote of the week

"[People] don’t expect retirement to begin with social security and sit on the back deck in a lounge chair for the rest of their lives. This group really wants to remain active."

Jeff Cimini, head of personal retirement at Merrill Lynch

Weekly Poll

View previous poll results

Toronto-listed Sprott, the Canadian asset manager, has acquired Flatiron Capital Management Partners, an alternative asset manager with around $260 million assets under management.

Flatiron manages funds for individuals and institutions and is registered with the Ontario Securities Commission. According to its website, the Flatiron Market Neutral LP has returned 0.85 per cent year-to-date, and 51.63 per cent since its 2006 inception. The firm’s other Canadian product, Flatiron Trust, has returned -5.1 per cent year-to-date and 69.07 per cent since its 2004 inception.

Sprott recently launched the Sprott Flatiron Yield Trust, an investment vehicle focused primarily on Canadian convertible arbitrage.

"The acquisition of Flatiron provides us with new investment capabilities and allows us to introduce specialty income strategies designed to deliver consistent returns to investors, while also providing them with important downside protection," said Peter Grosskopf, chief executive of Sprott.

Sprott operates through Sprott Asset Management, an investment manager providing mutual funds, hedge funds and discretionary managed accounts; Sprott Private Wealth, which works with high net worth clients; Sprott Consulting, which works with other companies, and Sprott US Holdings.

• Tweet

• Request reprint rights
• Send to a colleague
• Print (subject to copyright)