Sprott Inc. , the asset management company that specializes in gold, has parted ways with one of its key fund managers.
Sprott said late Friday that precious metals fund manager Jamie Horvat has decided to leave the company to pursue other opportunities.
Mr. Horvat and his colleague Charles Oliver were hired away from AGF at the beginning of 2008, and given responsibility for Sprott Gold and Precious Metal Fund. Mr. Oliver is staying on, Sprott said.
While almost every gold fund has paled in relation to the run in gold itself, Mr. Horvat and Mr. Oliver had generated solid returns for investors. Since they took over, the fund is up while the S&P/TSX Global Gold index is actually down, as this chart illustrates.
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