Bringing you live news and features since 2006 

Sprott Asset Management announces acquisition of assets relating to the North Shore Global Uranium Mining ETF

RELATED TOPICS​

 
Sprott Inc and Sprott Funds Trust have jointly announced that Sprott Asset Management LP, a wholly-owned subsidiary of Sprott, has completed the acquisition of certain assets relating to managing the North Shore Global Uranium Mining ETF (“URNM”), to which Exchange Traded Concepts, LLC acted as the investment adviser. 

Sprott Funds Trust and Exchange Traded Concepts Trust have completed the reorganisation of the North Shore Global Uranium Mining ETF from a series of Exchange Traded Concepts Trust to Sprott Uranium Miners ETF, a series of Sprott Funds Trust. URNM is now advised by Sprott Asset Management and sub-advised by ALPS Advisors, Inc.
 
In connection with the acquisition and fund reorganisation, Sprott Asset Management has also acquired licensing rights from North Shore Indices, Inc. to use the North Shore Global Uranium Mining Index, the performance of which URNM will continue to seek to track.
 
“Investor interest in uranium and energy-transition related investments continues to increase and the Sprott Uranium Miners ETF (“URNM”) is the perfect complement to the Sprott Physical Uranium Trust (“SPUT”),” says John Ciampaglia, CEO of Sprott Asset Management. “With SPUT and URNM, investors now have two compelling options to invest in the uranium sector.”
 
“As global governments increasingly turn to nuclear energy to address the dual challenges of achieving energy transition and energy security, we expect demand for uranium to remain strong,” says Ciampaglia. “Uranium mining is critical to the clean energy transition and URNM provides investors with access to producers, developers, exploration companies as well as vehicles that hold physical uranium.”
 
This transaction adds approximately USD1.1 billion of energy-transition related assets to Sprott’s total Assets Under Management (“AUM”) and, the firm writes, establishes Sprott as the largest manager of uranium investments in the world1 with approximately USD4.5 billion in uranium related, energy-transition AUM, as of April 21, 2022.
 
The Sprott Uranium Miners ETF is listed on NYSE Arca and the ticker symbol of the ETF (URNM) remains the same.

 

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by