Sprott's Flatiron Canadian Convertible Strategies Trust to offer units

By Tali David

Minneapolis, Oct. 31 - Sprott Asset Management LP announced that the Sprott Flatiron Canadian Convertible Strategies Trust has filed a preliminary prospectus in connection with its offering of trust units, according to a release.

The fund's investment objectives are to provide attractive risk-adjusted returns with low correlation to traditional equity and fixed-income indexes and to provide monthly tax-advantaged distributions, the release said.

The portfolio, which is designed to be equity-market neutral and focused primarily on convertible debentures and warrants of Canadian issuers, will be co-managed by Steve Duenkler and Parm Kalirai, co-founders of Flatiron Capital Management Partners, the fund's subadvisor. Duenkler and Kalirai have been managing convertible arbitrage strategies for more than 12 years.

The offering is being made through a syndicate of agents led by RBC Capital Markets and CIBC and including TD Securities Inc., GMP Securities Ltd., National Bank Financial, BMO Capital Markets, Canaccord Genuity Corp., Macquarie Private Wealth Ltd., Raymond James Ltd., Scotiabank, Desjardins Securities Inc. and Mackie Research Capital Corp.

Sprott is an investment management company based in Toronto.

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