Tuesday, April 16, 2013

Faber to advise Canada firm Sprott

Toronto-based investment firm Sprott Asset Management has launched its first multimanager fund for institutional investors, drawing on advice from the renowned investor Marc Faber.

The portfolio managers will choose securities based on recommendations from a macro committee led by Sprott, Marc Faber, the publisher of the Gloom, Boom & Doom report, and Rick Rule, chairman of Sprott U.S. Holdings. They will also seek recommendations from a five-person group in charge of asset allocation, Wilson said.

Currently the firm is substantially more cautious on equity markets than six months ago.