Launches & Closures Hedge Funds

Sprott to launch first fixed income fund


The Sprott Absolute Return Income Fund is set to launch August 31 and will managed by Scott Colbourne.

Scott Colbourne
(Courtesy of Sprott, Inc.)
Sprott Asset Management, the Toronto firm that has made a fortune on investments in gold and natural resources, is branching into fixed income, with plans to launch the Sprott Absolute Return Income Fund August 31.

Scott Colbourne, an award-winning bond investor hired this spring, will be the lead manager for the fund and two other fixed-income mutual funds for Sprott.

Sprott is expanding after its other hedge funds have posted big returns. As of June 30, the Sprott Hedge Fund LP I, managed by founder and chief executive Eric Sprott, is up 7.2%