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| Mutual Fund? |
We're sure Blythe understands the implications of this- it cannot be good for silver bullion supplies. The report has not been missed by silver traders, who have bid silver up $2 this morning nearly back to the $38 level. We await Blythe and The Bernank's counter-attack.
Full Press Release:
TORONTO, May 9 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce that it has expanded its industry leading family of precious metals funds with the addition of the Sprott Silver Bullion Fund.
Sprott now offers five different precious metals funds including, Sprott Gold & Precious Minerals Fund, Sprott Gold Bullion Fund, Sprott Silver Bullion Fund, as well as the exchange-traded Sprott Physical Gold Trust and Sprott Physical Silver Trust.
"We have been very early and active investors in precious metals and we strongly believe that all investors should have an allocation to precious metals in their portfolios. With our newest fund, investors will have greater choice as to how they choose to gain exposure to this asset class." says James Fox, President of Sprott Asset Management.
The Sprott Silver Bullion Fund is an innovative offering, being the first mutual fund in Canada to invest primarily in unencumbered, fully allocated silver bullion. The Fund's objective is to seek to provide a secure and liquid investment for investors seeking exposure to silver bullion without the inconvenience associated with direct investment.
About Sprott Asset Management LP Sprott Asset Management LP (www.sprott.com), a wholly owned subsidiary of Sprott Inc. (www.sprottinc.com), is a fund company dedicated to achieving superior returns for its investors over time. Sprott Asset Management LP manages assets primarily for institutions, endowments and high net worth individuals and is the investment manager of the Sprott Funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors should consult their financial advisor to determine if these Funds may be sold in their jurisdiction.
