Hedge Funds

Toronto's Sprott opens to foreign capital


Sprott Asset Management, the $2.95 billion Toronto-based hedge fund shop, has opened to U.S. and other non-Canadian investors its high-performing Sprott Opportunities Fund.

That fund, a $217 million long/short equity vehicle managed by Jean-François Tardif, has produced a jaw-dropping annualized net return of 45.3% since its April 2004 inception.

Until now, investment in the fund had been limited to Canadians. Interest from abroad convinced the firm to launch on February 1 an offshore version, which is domiciled in the Cayman Islands. Sprott is seeking to raise more than $50 million for the offshore vehicle but at the same time has