Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Report on Business

Streetwise

News and analysis on Bay Street and the world of finance
available exclusively to subscribers of Globe Unlimited

Entry archive:

Gold jewellery on display at a jewellery store in Damascus (KHALED AL-HARIRI)
Gold jewellery on display at a jewellery store in Damascus (KHALED AL-HARIRI)

Streetwise

Sprott Inc. likes gold stocks as they trail bullion Add to ...

Money management firm Sprott Inc. sees the performance gap between gold stocks and bullion as an opportunity.

Sprott is "confident in its physical metals position and believe the current market environment presents unique opportunities to invest in precious metals-related equities, many of which are trading at historically wide spreads to bullion prices," Sprott chief executive officer Peter Grosskopf said as the firm released third-quarter results.

More related to this story

A down year for some of the company's funds hasn't stopped Sprott from pulling in assets.

In a quarter when other money managers such as Gluskin Sheff saw assets shrink, Sprott's were on the rise.

Assets under management were $9.9-billion at quarter end, up from $9.3-billion at the end of the second quarter, even as some of the firm's flagship funds struggled. The Sprott Hedge fund is down about 12.6 per cent on the year according to the Globe and Mail's fund database.

"The ongoing climate of global economic uncertainty has taken a toll on the markets, with most major indices in negative territory for the year," added Mr. Grosskopf. "While we have positioned our portfolios defensively, in line with our well-stated views on the weaknesses inherent in the financial system, we were disappointed not to have delivered better performance through the recent turmoil."

 

Topics:

In the know

Most popular videos »

Highlights

More from The Globe and Mail

Most popular