Sprott rolls out Flatiron trust for Canadian convertible arbitrage

By Marisa Wong

Madison, Wis., July 16 - Sprott Asset Management LP announced the launch of a new specialty income product - the Sprott Flatiron Yield Trust - that focuses primarily on Canadian convertible arbitrage.

According to a news release, the trust is designed to generate positive monthly performance with a low correlation to both traditional equities and fixed-income investments.

The trust will be co-managed by Steve Duenkler and Parm Kalirai, co-founders of Flatiron Capital Management, which will act as sub-adviser to the trust.

Duenkler and Kalirai have been managing convertible arbitrage strategies for more than 12 years, according to the release. Their strategy delivers positive monthly returns 85% of the time, Sprott Inc. chief executive officer Peter Grosskopf said in the release.

Sprott is an investment management company based in Toronto.

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