The Federation of National Specialty Societies of Canada (FNSSC) and Sprott Asset Management (SAM) have said that the objective of the FNSSC-Multi Manager Fund, which is offered exclusively to all Canadian medical and surgical specialists and their families, will be to provide long-term capital growth in a diversified approach by investing in five of SAM’s existing mutual funds.
The fund will be an open-ended mutual fund trust and will launch at C$10 per unit with a minimum initial investment requirement of C$5,000. It is expected to be eligible for registered tax plans, including tax-free savings accounts, and will be managed by the SAM investment team.
Morris Freedman, president of FNSSC, said: FNSSC’s board of directors look forward to a long and beneficial relationship between our federation and SAM. We believe our partnering with SAM will improve the universe of investment options for Canadian specialists while creating revenue generating opportunities for FNSSC and our member societies.
We decided to partner with SAM largely because of the superlative long-term track-records of their highly experienced management team. I’m pleased to let specialists know that the development of the FNSSC-Multi Manager Hedge Fund, a fund of SAM’s hedge funds, is already underway and we look forward to announcing the details of its launch in the coming months.
