Sprott snags star managers from Sceptre

Date: Wednesday, July 4, 2007
Author: Advisor.ca

Sprott Asset Management announced Wednesday that Allan Jacobs and Peter Imhof will be leaving Sceptre Investment Counsel and joining Sprott Asset Management, effective August 1, 2007.

Jacobs had managed the $844-million Sceptre Equity Growth Fund, along with the $484-million Sceptre Small Capitalization Canadian Equity Pooled Fund, since 1993. Jacobs was chosen as the 2006 fund manager of the year at the Canadian Investment Awards, and the Sceptre Equity Growth Fund was recently awarded the Best Canadian Small Cap Fund over one-, three-, five- and ten-year periods at the 2007 Canadian Lipper Fund Awards.

Imhof was managing director of Sceptre and was involved with its Canadian small cap team. Prior to that, he was involved in quantitative analysis, risk analysis and portfolio construction in Canadian equities and has been a significant contributor to the management team of the Sceptre Equity Growth Fund and the Small Capitalization Canadian Equity Pooled Fund.

Sceptre may not be too far in Jacobs's and Imhof's rearview mirror. Sprott says it intends to provide sub-advisory services to Sceptre's Small Cap Opportunities Fund. Presumably, Jacobs and Imhof will be key players in this role.