Sprott Gold Equity Fund

Sprott Gold Equity Fund’s^* investment objective is long-term capital appreciation.

The Fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus borrowings for investment purposes, in gold and other precious metals and securities of companies located throughout the world that are engaged in mining or processing gold.

The Fund follows a value approach to investing and the Portfolio Manager will identify companies that are undervalued based on his judgment of relative value and growth potential.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance assumes reinvestment of capital gains and dividends. Returns for periods less than one year are not annualized.

The Fund’s performance does not reflect the redemption fee of 2.00% for the first 90 days. If deducted, the fee would reduce the performance quoted. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 888.622.1813.

1. The Philadelphia (PHLX) Stock Exchange Gold and Silver Sector Total Return Index (XXAU) is an indicator of the performance of the common stock of companies in the gold and silver mining industry and reflects the reinvestment of any dividends. The Index performance quoted reflects the following indices and dates: XAU from Oct. 31, 2010 - Oct. 31, 2011, and XXAU onwards. This Index does not incur fees and expenses. You cannot invest directly in an index
2. The S&P 500 Total Return Index is a market-value weighted index consisting of 500 stocks chosen for market size, liquidity, and industry group representation. You cannot invest directly in an index.
3. Since Inception (SI) date for Investor Class is 6/29/1998; Since Inception (SI) date for Institutional Class is 4/8/2019.

Expenses are per the Fund’s most recent  prospectus dated April 29, 2024.

Expenses are per the Fund’s most recent  prospectus dated April 29, 2024.

As of 9/30/2024

Holdings may vary, and this list is not a recommendation to buy or sell any security.

Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio’s actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index.

*Allocations are subject to change.

^†Excludes cash equivalents, other assets & receivables.

John Hathaway, Maria Smirnova, Shree Kargutkar and Justin Tolman are members of the Sprott Investment Team which offers world-class expertise in the active management of precious metals equities.

Unparalleled in scope and breadth, the Team includes portfolio managers, geologists, analysts and traders who together boast more than 400 years of combined precious metals and critical materials investment experience. Learn more about the Sprott Investment Team.