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Sprott Sprott Announces First Quarter 2021 Results TORONTO , May 07 , 2021 ( GLOBE NEWSWIRE ) -- Sprott Inc. ( NYSE / TSX : SII ) ( " Sprott " or the " Company " ) today announced its financial results for the three months ended March 31 , 2021 . Management commentary " Adjusted base EBITDA was $ 14.6 million ( $ 0.59 per share ) , up 78 % or $ 6.4 million ( $ 0.26 per share ) from this time last year . This marks the second consecutive quarter that we have posted results surpassing our previous historic high recorded in the third quarter of 2011 , " said Peter Grosskopf , CEO of Sprott . " In April , Sprott announced an agreement to become the manager of Uranium Participation Corporation ( " UPC " ) , the largest physical uranium vehicle in the market , and form the Sprott Physical Uranium Trust , " added Mr. Grosskopf . " We believe our global brand , fund marketing experience , and client base of more than 200,000 investors will improve trading liquidity and grow UPC's asset base during what we see as the start of a strong market for physical uranium . The transaction , which is subject to UPC shareholder approval and other customary conditions to closing , will add approximately $ 500 million to Sprott's total assets under management ( " AUM " ) . " Financial highlights Key AUM highlights • AUM was $ 17.1 billion as at March 31 , 2021 , down $ 0.3 billion ( 2 % ) from December 31 , 2020. On a three months ended basis we experienced market value depreciation that was partially offset by strong inflows into our various fund products . Subsequent to the quarter end , management estimates that consolidated AUM as at May 4 , 2021 was $ 18.2 billion , up $ 1.1 billion ( 7 % ) from March 31 , 2021. The estimated increase in AUM from the quarter - end was primarily due to a combination of precious metals and mining equity valuation recoveries across our various fund products and continued strong inflows into our physical trusts . Key revenue highlights • Management fees were $ 22.5 million this quarter , up $ 7.3 million ( 48 % ) from the prior period . Carried interest and performance fees were $ 7.9 million , up $ 7.9 million from the prior period . Net fees were $ 24.7 million this quarter , up $ 9.8 million from the prior period mainly due to higher average AUM from strong net inflows in our exchange listed products segment . We also benefited from higher average AUM in our managed equities segment . • Commission revenues were $ 12.5 million this quarter , up $ 7.3 million from the prior period . Net commissions were $ 6.3 million this quarter , up $ 3 million ( 90 % ) from the prior period due to very strong equity origination in our brokerage segment . • Finance income was $ 1.2 million this quarter , up $ 0.3 million ( 37 % ) from the prior period due to higher interest income from co - investments in our lending segment . • Loss on investments was $ 4.7 million this quarter , up $ 0.3 million ( 7 % ) from the prior period due to market value depreciation of co - investments and certain equity holdings . Key expense highlights • Compensation was $ 22.6 million this quarter , up $ 12.5 million from the prior period . Net compensation was $ 11.8 million this quarter , up $ 4.2 million ( 56 % ) from the prior period . The increase was primarily due to higher annual incentive compensation on improved financial performance in the quarter and higher base salaries on new hires . Our compensation ratio ( net compensation / net fees & net commissions ) for the quarter was 38 % compared to 42 % in the prior period . • SG & A was $ 3.4 million this quarter , down $ 0.1 million ( 3 % ) from the prior period due to lower marketing and sales costs relating to travel restrictions due to COVID - 19 . Earnings summary • Net income was $ 3.2 million this quarter , up $ 2.2 million from the prior period . Adjusted base EBITDA was $ 14.6 million ( $ 0.59 per share ) this quarter , up 78 % or $ 6.4 million ( $ 0.26 per share ) from the prior period . During the quarter , we benefited from increased fees due to strong net inflows in our exchange listed products segment and higher average AUM in our managed equities segment . We also benefited from increased commission revenues in our brokerage segment . Subsequent events