Sprott wins global hedge fund award

Date: Monday, November 3, 2008
Author: Investment Executive

Sprott Asset Management Inc. reports that Sprott Offshore Fund Ltd. has won the award for Best Long/Short Hedge Fund globally by HFM Week, a publication for the global hedge fund industry. The awards ceremony took place in New York on Oct. 30.

The fund, managed by Eric Sprott, and Sprott Opportunities Hedge Fund L.P., managed by Jean-Francois Tardif were two of the seven funds nominated by HFM Week for the 2008 Best Long/Short Hedge Fund globally. It is estimated that there are currently over 4,000 long/short global hedge fund managers. Sprott Opportunities Hedge Fund L.P. managed by Tardif was the recipient of the 2007 award in the Canada-based Manager category.

In addition, Sprott Hedge Fund L.P., also managed by Eric Sprott, has been named as one of the three finalists in the U.S. equity category and Sprott Asset Management has been nominated in the Management Firm Of The Year category of the 2008 Absolute Return Awards by Hedge Fund Intelligence, the biggest provider of hedge fund news and data in the world.

“We are incredibly pleased to receive this high-profile award from HFM Week and to be nominated in two categories of the Hedge Fund Intelligence Absolute Return Awards, all of which reflect our long term performance track record,” says Eric Sprott, CEO of Sprott Assett Management.

Coming into the recent market conditions, Eric Sprott's hedge fund portfolios remain defensive currently holding gold and silver bullion on the long side and a net short equity position, the company says. Jean-Francois Tardif has been defensively positioned in the Sprott Opportunities Fund L.P. since mid-year and lowered his exposures on both the long and short sides.

Eric Sprott manages five Sprott hedge funds: Sprott Hedge Fund L.P.; Sprott Hedge Fund L.P. II; Sprott Bull/Bear RSP Fund; Sprott Offshore Fund, Ltd.; and Sprott Offshore Fund II, Ltd.

Jean-Francois Tardif manages four Sprott hedge funds: Sprott Opportunities Hedge Fund L.P.; Sprott Opportunities RSP Fund; Sprott Opportunities Offshore Fund, Ltd.; and Sprott Opportunities Capital Fund, L.P.