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Sprott selling mutual fund arm to executives for $46-million Add to ...

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Money manager Sprott Inc. is going back to its roots as an investor in gold, silver and mining plays by selling its $3-billion mutual fund arm to its executives for $46-million.

Toronto-based Sprott, founded in 2000 by veteran gold bug Eric Sprott, announced Monday that it is vending a stable of 38 funds to a team led by John Wilson and James Fox, the CEO and president, respectively of mutual fund unit Sprott Asset Management. The decision to sell comes after several years of poor performance from Sprott stock and recent offers for the business from rival money managers in a consolidating industry.

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