Sector: Financials | Industry: Closed End Funds |
Company Contact | |
Address: | 200 Bay Street, 200 Bay St. #2600 TORONTO ON M5J 2J1 |
Tel: | 1-416-9434394 |
Website: | https://sprott.com/investment-strategies/physical-bullion-trusts |
IR: | See website |
Key People | ||
John A. Ciampaglia Chief Executive Officer, Director of the Manager | Varinder Bhathal Chief Financial Officer of the Manager | Maria Smirnova Chief Investment Officer | Lara Misner Chief Compliance Officer |
Business Overview |
Sprott Physical Silver Trust (the Trust) is a closed-end mutual fund trust. The investment objective of the Trust is to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical silver bullion without the inconvenience that is typical of a direct investment in physical silver bullion. The Trust invests and intends to continue to invest primarily in long-term holdings of unencumbered, fully allocated, physical silver bullion and does not speculate with regard to short-term changes in silver prices. Sprott Asset Management LP is the manager of the Trust. |
Financial Overview |
For the fiscal year ended 31 December 2023, Sprott Physical Silver Trust revenues decreased from $123.6M to -$29.2M. Net loss totaled $53.5M vs. income of $103.2M. Revenues reflect Change in unrealized gains (losses) on s decrease from $123.5M to -$21.4M, Net realized gains (losses) on redemptio decrease from $0K to -$8.3M. Net loss reflects Sales tax increase of 55% to $1.5M (expense). |