Sprott Hires Former Sentry Chief Investment Officer Mitchell

Sprott Asset Management hired Dennis Mitchell as senior portfolio manager after the former chief investment officer at Sentry Investments departed that firm in July.

Mitchell will join Sprott pending regulatory approval, the fund manager unit of Sprott Inc. said in a release.

"Dennis is a well-known portfolio manager with deep experience managing global equity, infrastructure and REIT funds," said John Wilson, chief executive officer of Toronto-based Sprott Asset Management, in a statement. "We look forward to expanding our product offerings in these core categories."

Parent company Sprott manages about C$7.8 billion and is seeking to double its assets in the next three years as the firm diversifies away from its legacy gold holdings, Wilson told Bloomberg in a June interview.

Shares of Sprott have dropped 7.8 percent this year, on pace for a fifth straight annual decline.

Mitchell left Sentry in July, replaced by Sandy McIntyre, who had previously held the position from 2008 to 2012. The company didn’t disclose a reason for his departure. Sentry manages about C$18 billion.

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