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Sprott Sprott Announces Third Quarter 2021 Results TORONTO , Nov. 05 , 2021 ( GLOBE NEWSWIRE ) -- Sprott Inc. ( NYSE / TSX : SII ) ( " Sprott " or the " Company " ) today announced its financial results for the three and nine months ended September 30 , 2021 . Management commentary " During the third quarter of 2021 , Sprott demonstrated the strength of our strategy and continued to deliver strong financial results despite precious metals trading sideways for most of the period , " said Peter Grosskopf , CEO of Sprott . " Subsequent to quarter - end , we surpassed $ 20 billion in AUM , a new historic high for Sprott , reached in large part due to the efforts of our employee team . " " In July we completed the acquisition of Uranium Participation Corp. and launched the Sprott Physical Uranium Trust ( " SPUT " ) , which has grown to $ 1.6 billion in assets , " added Mr. Grosskopf . " In November , subsequent to the end of the third quarter , we announced that we are further expanding our uranium franchise with an agreement to acquire exclusive licensing rights to the index tracked by the North Shore Global Uranium ETF ( “ URNM ” ) , which has the potential to result in a transaction that could add approximately $ 900 million in AUM . We believe URNM is a perfect complement to SPUT , which has quickly become the largest and most in - demand physical uranium vehicle in the world . " Financial highlights Key Assets under Management ( " AUM " ) highlights • AUM was $ 19 billion as at September 30 , 2021 , up $ 0.5 billion ( 3 % ) from June 30 , 2021 and up $ 1.6 billion ( 9 % ) from December 31 , 2020. On a three and nine months ended basis , we benefited from the Uranium Participation Corporation transaction ( " UPC transaction " ) adding $ 630 million to our physical trusts . We also benefited from strong inflows to our physical trusts and lending strategies . These increases were partially offset by market value depreciation across most of our fund products . Subsequent to quarter - end , AUM surpassed $ 20 billion . A new high for the Company . Key revenue highlights • Management fees were $ 28.6 million in the quarter , up $ 8.7 million ( 44 % ) from the three months ended September 30 , 2020 and $ 76.1 million on a year - to - date basis , up $ 25.2 million ( 50 % ) from the nine months ended September 30 , 2020. Carried interest and performance fees were nil in the quarter and $ 7.9 million on a year - to - date basis , up $ 7.9 million from the nine months ended September 30 , 2020. Net fees¹ were $ 26.1 million in the quarter , up $ 7.2 million ( 38 % ) from the three months ended September 30 , 2020 and $ 73 million on a year - to - date basis , up $ 25.2 million ( 53 % ) from the nine months ended September 30 , 2020. The revenue increases were primarily due to the UPC transaction and higher average AUM from strong net inflows in our exchange listed products segment . We also benefited from strong inflows in our lending and brokerage segments . Additionally , we experienced carried interest crystallization in the first quarter of the year in our lending segment . • Commission revenues were $ 11.3 million in the quarter , up $ 1.9 million ( 20 % ) from the three months ended September 30 , 2020 and $ 31.1 million on a year - to - date basis , up $ 10.4 million ( 50 % ) from the nine months ended September 30 , 2020. Net commissions¹ were $ 5.8 million in the quarter , up $ 0.1 million ( 1 % ) from the three months ended September 30 , 2020 and $ 17 million on a year - to - date basis , up $ 3.3 million ( 24 % ) from the nine months ended September 30 , 2020. Despite relatively flat net commissions on a three months ended basis , net commissions were strong on a year- to - date basis due to a combination of commissions earned on strong mining equity origination in our brokerage segment earlier in the year and commissions earned on the purchase of uranium in our exchange listed products segment this quarter . • Finance income was $ 0.6 million in the quarter , down $ 0.2 million ( 25 % ) from the three months ended September 30 , 2020 and $ 2.7 million on a year - to - date basis , up $ 0.4 million ( 18 % ) from the nine months ended September 30 , 2020 . Our quarterly and year - to - date results are primarily driven by income generation in co - investment positions we hold in LPs managed in our lending segment . • Gains on investments were $ 0.3 million this quarter , down $ 4.1 million ( 93 % ) from the three months ended September 30 , 2020 and losses were $ 1.8 million on a year - to - date basis , compared to gains of $ 8.2 million in the nine months ended September 30 , 2020. Investment gains were realized in the quarter on the monetization of certain digital gold strategies . This was partially offset by unrealized losses on certain co - investments and equity holdings . Key expense highlights • Net compensation was $ 12.8 million in the quarter , up $ 0.5 million ( 4 % ) from the three months ended September 30 , 2020. This compares to net fees and adjusted base EBITDA growth of 38 % and 39 % , respectively , over the same time