2016 Financial Overview
Significant events for the three-months ended
"Our market positioning was finally rewarded over the first nine months of 2016, contributing to our AUM increasing by approximately 36% to more than
"We are committed to remaining at the forefront of precious metals investing and recently completed a strategic investment in TradeWind Markets, a new venture with the goal of modernizing the trading, settlement and ownership of physical gold. TradeWind is a spinoff of
Assets Under Management
|$ (in millions)||AUM
Jun. 30, 2016
|Net Sales /
Sep. 30, 2016
|Exchange Listed Products (1)||4,830||36||77||4,943|
|Diversified Alternative Asset Management:|
|Mutual Funds (1)||2,638||(56||)||92||2,674|
|Alternative Investment Funds||1,107||37||29||1,173|
|Fixed Term Limited Partnerships||364||—||19||383|
|Total Enterprise AUM||9,801||36||252||10,089|
(1) Prior to 2016, the "Bullion Funds" category combined Physical Trusts as well as Bullion Mutual Funds. Bullion Mutual Funds are now part of the "Mutual Funds" category while the Physical Trusts have been combined with ETFs as part of the "Exchange Listed Products" category.
On November 10, 2016, a dividend of
Conference Call and Webcast
A conference call and webcast will be held today,
*Non-IFRS Financial Measures
This press release includes financial terms (including AUM, AUA, EBITDA, adjusted base EBITDA and net sales) that the Company utilizes to assess the financial performance of its business that are not measures recognized under International Financial Reporting Standards (“IFRS”). These non-IFRS measures should not be considered alternatives to performance measures determined in accordance with IFRS and may not be comparable to similar measures presented by other issuers. For additional information regarding the Company's use of non-IFRS measures, including the calculation of these measures, please refer to the “Non-IFRS Financial Measures” section of the Company's Management's Discussion and Analysis and its financial statements available on the Company's website at www.sprottinc.com and on SEDAR at www.sedar.com.
Certain statements in this press release contain forward-looking information (collectively referred to herein as the “Forward-Looking Statements”) within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify Forward-Looking Statements. In particular, but without limiting the forgoing, this press release contains Forward-Looking Statements pertaining to: (i) continued expansion of our specialty credit franchise; (ii) commitment to remaining at the forefront of precious metals investing; and (iii) continued AUM growth and significant growth markets.
Although the Company believes that the Forward-Looking Statements are reasonable, they are not guarantees of future results, performance or achievements. A number of factors or assumptions have been used to develop the Forward-Looking Statements, including: (i) the impact of increasing competition in each business in which the Company operates will not be material; (ii) quality management will be available; (iii) the effects of regulation and tax laws of governmental agencies will be consistent with the current environment; and (iv) those assumptions disclosed herein under the heading “Significant Accounting Judgments and Estimates”. Actual results, performance or achievements could vary materially from those expressed or implied by the Forward-Looking Statements should assumptions underlying the Forward-Looking Statements prove incorrect or should one or more risks or other factors materialize, including: (i) difficult market conditions; (ii) poor investment performance; (iii) performance fee fluctuations; (iv) changes in the investment management industry; (v) risks related to regulatory compliance; (vi) failure to deal appropriately with conflicts of interest; (vii) failure to continue to retain and attract quality staff; (viii) competitive pressures; (ix) corporate growth may be difficult to sustain and may place significant demands on existing administrative, operational and financial resources; (x) failure to execute the Company’s succession plan; (xi) foreign exchange risk relating to the relative value of the U.S. dollar; (xii) litigation risk; (xiii) employee errors or misconduct could result in regulatory sanctions or reputational harm; (xiv) failure to implement effective information security policies, procedures and capabilities; (xv) failure to develop effective business resiliency plans; (xvi) failure to obtain or maintain sufficient insurance coverage on favourable economic terms; (xvii) historical financial information is not necessarily indicative of future performance; (xviii) the market price of common shares of the Company may fluctuate widely and rapidly; (xix) risks relating to the Company's proprietary investments; (xx) risks relating to the Company's lending business; (xxi) those risks described under the heading "Risk Factors" in the Company’s annual information form dated
Investor contact information:
Glen WilliamsDirector of Communications (416) 943-4394 email@example.com
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