Mutual Fund FAQs

If you are a resident of Canada or a Canadian corporation or institution, you may purchase Sprott Mutual Funds via your Broker or Investment Advisor or via Sprott Private Wealth LP (SPW) directly. To purchase through your broker or Investment Advisor, you must meet the minimum investment requirements for each of the various Sprott Mutual Funds. When you are ready to invest, please contact your broker or Investment Advisor directly.

To qualify to purchase directly through SPW, investors are required to have a minimum account size. Accounts may not be combined to meet this minimum (i.e registered, non-registered). If you would like to invest directly through SPW,please click here, and a SPW sales representative will contact you. 

If you are not a Canadian resident and are interested in learning about our Sprott Offshore Funds, please visit our International Investor website or please call 866-299-9906.

Sprott Mutual Funds may be purchased through an approved dealer for a minimum $1,000 and with subsequent purchases of $100. To purchase Sprott Mutual Funds directly through Sprott Private Wealth LP. your account size must meet the minimum of $250,000, which may include a combination of the various Sprott Mutual Funds at their respective minimums. To learn more about SPW, please click here.

Sales fees and account services may vary from one institution to another. Please consult your advisor for more information regarding potential differences in fees and services.

The difference between the A series structure and the F series structure for Sprott Mutual Funds is fees. The A series structure for Sprott Mutual Funds is based on a front-load structure or a low-load structure (3% sales commission up-front). The F series for Sprott Mutual Funds is available to investors who participate in fee-based programs through their dealer and whose dealer has signed a Series F Agreement with Sprott Asset Management LP. Please consult your dealer/advisor for more information.

Sprott Mutual Funds are optional front-end load funds where dealers may charge you up to 5% (except the Gold Bullion Fund is 0-2%) at your time of purchase. There are no deferred (back-end) sales charges. However, a short-term trading fee of 3% will apply should you redeem your Sprott Mutual Funds within 180 days of purchase (except for the Sprott Gold Bullion Fund which charges a short-term trading fee of 1.5% if redeemed within 60 days of purchase). For other fees applied to the Fund directly such as management fees, operating and performance fees, please consult the simplified prospectus before investing.

You may switch between Sprott Mutual Funds at any time without penalty provided your transactions are processed as a "switch". Please note that once a switch is made, the hold period will be reset, such that if you redeem within 180 days of that switch date a 3% short-term trading fee will apply.

For Series A units purchased under the front-end option, subscribers should stay invested in Sprott Mutual Funds for a minimum of 180 days. In the event an investor redeems within 180 days, a 3% short-term trading fee will be applied. An investor may switch from one Sprott Mutual Fund to another without triggering the 3% short-term trading fee. However, the 180-day hold period will reset based on the switch date. If an investor redeems the fund within 180 days of the switch date the 3% short-term trading fee will be applied. For subscribers purchasing Series A units under the low-load option, please consult the simplified prospectus for details.

All Sprott mutual funds are eligible to be held in registered accounts for the following: Nominee Name (RRSP, RRIF, RESP, TFSA); Client Name (RSP, RIFA).

Sprott Asset Management LP offers both nominee and client name accounts. For application forms, please contact RBC Dexia at 416-955-5885.

If you have a change of address, please contact your investment advisor or broker who can notify RBC Dexia and make the necessary account changes on your behalf. If you are a client of our dealer services, Sprott Private Wealth L.P., please contact your investment advisor directly.

For account information, please contact your broker or investment advisor and they will be able to help you with your personal account questions.

The T3 is the Statement of Trust Income and Allocations Designations. T3s are used to report the total amount of income or capital gains that were distributed to investors holding mutual fund trust units in non-registered accounts.

Note: Quebec residents must file the provincial tax form, Relevé 16, in addition to the T3.

Mutual Fund distributions represent the Fund's taxable income. In each calendar year, the Mutual Funds can distribute to its investors a sufficient amount of the Fund's net investment income and net realized capital gains so that the Fund will not pay any income tax. The net investment income and the net realized capital gains of the Fund will be distributed annually in December. All distributions paid to an investor will be reinvested automatically in additional units of the Fund at the net asset value without any fee. Distributions are paid out to investors on the record date, regardless of how long they have held the units.

Sprott Asset Management LP may receive the required information for producing tax slips on or after the Canada Revenue Agency (CRA) reporting deadline of March 31. This may cause a delay in mailing of the tax slips. If you receive any tax slips after you have filed your tax return, you must file a T1-ADJ form to amend your tax return.

Income and capital gains earned by the fund are added to the fund throughout the year and reflected daily in the fund's unit price. At the end of the year, the income received and capital gains realized throughout the year are calculated and then divided by the units in the mutual fund. Each unitholder receives a portion of this income from the distribution in proportion to the number of units he/she owns. The resulting unit price will be lowered by the amount of the distribution.

Tax reporting for a mutual fund is based on the unitholder's share of the Fund's capital gain or loss for tax purposes, and may or may not equal the gains or losses made throughout the year from a unitholder's account. If there is a capital gain (or loss) on the T3 tax slip, this represents the capital gains (or losses) realized from selling equities within the Fund and is not directly related to the returns (or losses) in your individual account.