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Hedge fund manager Eric Sprott on Friday, November 25, 2010.
Hedge fund manager Eric Sprott on Friday, November 25, 2010.
(Darren Calabrese For The Globe and Mail)

Eric Sprott to step back from daily fund management by end of 2014

Sprott Inc. is changing focus and investment strategy, as its gold-focused founder Eric Sprott prepares to step back from daily fund management.

The company has been “building a team around” Eric Sprott as a way of succession planning, and Mr. Sprott will cede daily management of his flagship funds by the end of 2014, the company said in an earnings call with analysts Thursday. Mr. Sprott is the largest shareholder in his namesake firm, and he currently owns nearly 35 per cent of the company.