Toronto-based Sprott Asset Management LP Thursday announce the upcoming launch of three new precious metals-related funds on February 28.
Sprott says Sprott Silver Equities Class is the first fund of its kind in Canada, while Sprott Silver Bullion Class is the first silver bullion fund to be offered within a mutual fund corporation structure.
Sprott Gold Bullion Class is also being launched to provide investors with greater investment choice within Sprott Corporate Class Inc., a mutual fund corporation designed to provide greater tax-efficiency for investors. With the addition of these three funds, Corporate Class now offers 11 different share classes for investors to switch between without triggering an immediate taxable event.
“We are pleased to build on our leadership position in the precious metals category”, says James Fox, president of Sprott. “With the launch of these new funds, we continue to demonstrate our commitment to developing innovative new products to help our clients achieve their investment objectives.”
The company says bullion funds are a convenient, liquid and cost-effective way to hold physical gold and silver, while the Sprott Silver Equities Class invests primarily in mining companies that are focused on silver exploration and production.