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Ninepoint International Small Cap Fund

Why Invest in Ninepoint International Small Cap Fund

  • PURE EAFE EXPOSURE: One of the only Canadian-managed international small-cap funds with no exposure to North American equities,* available to retail investors 

  • SMALL-CAP INVESTMENT EXPERTISE: Sub-advised by an experienced institutional portfolio management team with over 17 years of experience and a strong track record of consistent investment returns

  • UNIQUE GROWTH OPPORTUNITIES: Small international companies tend to be less covered by analysts, so there is more opportunity for active managers to uncover value

  • TRUE DIVERSIFICATION: In a portfolio, similar holdings can overlap and limit the benefits of diversification. While the major Canadian indices are heavily skewed to the energy, material and financial sectors, the international small-cap market provides representation across a much broader range of sectors.

  • ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG): ESG policy is incorporated into investment analysis and decision-making process.

Fund Objective

The Fund seeks to provide unitholders with long term capital appreciation by investing primarily in a portfolio of international small capitalization equity securities of issuers in countries and industries located in Europe, Japan and Asia-Pacific ex-Japan.

Investment Strategies

To achieve the Fund’s investment objective, the Sub-Adviser will invest the Fund’s assets primarily in international equity securities in the international small cap universe, which is considered to be issuers with a market capitalization between US$100 million and US$3.5 billion at the time of purchase. The Sub-Adviser will use a fundamental bottom-up approach to identify companies with unrecognized and accelerating earnings growth potential. The Sub-Adviser will seek to identify companies with features such as sustainable competitive advantage, clearly defined growth strategies, and a strong balance sheet. This bottom-up stock selection process is guided by key international themes that drive growth potential.

An Institutional Caliber Manager

Global Alpha, the sub-advisor on the Ninepoint International Small Cap Fund, is a small cap specialist with $1.3 billion in AUM, including institutional clients like CALPERS and CALSTRS.

 

 

Unique Diversification Opportunity

One of the few retail, Canadian-managed international small cap funds with no exposure to North American equities*

 

Unique Growth Opportunities

International small-cap equities are another way to take advantage of the growth potential of small companies. While the international small-cap investment universe only accounts for a small percentage of the international pie (left below), small-cap stocks have provided the biggest opportunity for growth (right below).

 
 

Access to the Global Alpha Team

Global Alpha has produced strong returns through their Global Alpha International Small Cap Strategy which they’ve managed since 2009.** (See table below)

 

*  Based on global small/mid-cap equity and international equity category peer group comparison. Source: Morningstar Direct and 2016 IMF Coordinated Direct Investment Survey, Russell Global Index, Vanguard.

** Inception Date: December 31, 2009. Information related to the Global Alpha International Small Cap strategy is historic in nature and is not an indication of future returns. It is provided for illustrative purposes only.

*** Global Alpha International Small Cap Composite - The international small cap composite consists of portfolios invested in Global Alpha’s international small cap investment equity strategy. The benchmark is the MSCI EAFE Small Cap Net Index. The investment objective is to maximize long-term total return through prudent investment in international small capitalization stocks and generate returns equal to the return of the MSCO EAFE Small Cap Net Index (CDN$) plus 3.0% over a full market cycle. The Global Alpha International Small Cap Composite typically invests in 50-70 international small cap stocks. Tracking error is targeted at between 3% - 6% relative to the benchmark.

 

Are You An Accredited Investor?

The minimum subscription amount is $150,000.00 in all jurisdictions, unless you meet the definition of "accredited investor" under National Instrument 45-106 Prospectus and Registration Exemptions.

If you meet the definition "accredited investor" (see below), you may invest a minimum of $25,000. Please consult the Offering Memorandum to determine your qualification status. Investment Advisors should consult their company's internal policies.

The Subscriber, or one or more beneficial purchasers for whom the Subscriber is acting, is (i) a resident of, or the purchase and sale of securities to the Subscriber is otherwise subject to the securities legislation of one of the following: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Québec, Newfoundland and Labrador, Nova Scotia, New Brunswick, Prince Edward Island, North West Territories, or Nunavut, and the Subscriber is (and will at the time of acceptance of the Subscription be) an accredited investor within the meaning of National Instrument 45-106 Prospectus and Registration Exemptions ("NI 45-106") because the Subscriber is one of the following:

(a) a Canadian financial institution, or a Schedule III bank;
(b) the Business Development Bank of Canada incorporated under the Business Development Bank of Canada Act (Canada);
(c) a subsidiary of any person referred to in paragraphs (a) or (b), if the person owns all of the voting securities of the subsidiary, except the voting securities required by law to be owned by directors of that subsidiary;
(d) a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer, other than a person registered solely as a limited market dealer under one or both of the Securities Act (Ontario) or the Securities Act (Newfoundland and Labrador);
(e) an individual registered or formerly registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred to in paragraph (d);
(f) the Government of Canada or a jurisdiction of Canada, or any crown corporation, agency or wholly owned entity of the Government of Canada or a jurisdiction of Canada;
(g) a municipality, public board or commission in Canada and a metropolitan community, school board, the Comité de gestion de la taxe scolaire de l'île de Montréal or an intermunicipal management board in Québec;
(h) any national, federal, state, provincial, territorial or municipal government of or in any foreign jurisdiction, or any agency of that government;
(i) a pension fund that is regulated by the Office of the Superintendent of Financial Institutions (Canada), a pension commission or similar regulatory authority of a jurisdiction of Canada;
(j) an individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that before taxes, but net of any related liabilities, exceeds $1,000,000;
(k) an individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects to exceed that net income level in the current calendar year;
(Note: If individual accredited investors wish to purchase through wholly-owned holding companies or similar entities, such purchasing entities must qualify under section (t) below, which must be initialled.)
(l) an individual who, either alone or with a spouse, has net assets of at least $5,000,000;
(m) a person, other than an individual or investment fund, that has net assets of at least $5,000,000 as shown on its most recently prepared financial statements;
(n) an investment fund that distributes or has distributed its securities only to:
  1. a person that is or was an accredited investor at the time of the distribution,
  2. a person that acquires or acquired securities in the circumstances referred to in sections 2.10 [Minimum amount investment] or 2.19 [Additional investment in investment funds] of NI 45- 106, or
  3. a person described in paragraph (i) or (ii) that acquires or acquired securities under section 2.18 [Investment fund reinvestment] of NI 45-106;
(o) an investment fund that distributes or has distributed securities under a prospectus in a jurisdiction of Canada for which the regulator or, in Québec, the securities regulatory authority, has issued a receipt;
(p) a trust company or trust corporation registered or authorized to carry on business under the Trust and Loan Companies Act (Canada) or under comparable legislation in a jurisdiction of Canada or a foreign jurisdiction, acting on behalf of a fully managed account managed by the trust company or trust corporation, as the case may be;
(q) a person acting on behalf of a fully managed account managed by that person, if that person:
  1. is registered or authorized to carry on business as an adviser or the equivalent under the securities legislation of a jurisdiction of Canada or a foreign jurisdiction; and
  2. Ontario, is purchasing a security that is not a security of an investment fund;
(r) a registered charity under the Income Tax Act (Canada) that, in regard to the trade, has obtained advice from an eligibility adviser or an adviser registered under the securities legislation of the jurisdiction of the registered charity to give advice on the securities being traded;
(s) an entity organized in a foreign jurisdiction that is analogous to any of the entities referred to in paragraphs (a) to (d) or paragraph (i) in form and function;
(t) a person in respect of which all of the owners of interests, direct, indirect or beneficial, except the voting securities required by law to be owned by directors, are persons that are accredited investors;
(u) an investment fund that is advised by a person registered as an adviser or a person that is exempt from registration as an adviser, or;
(v) a person that is recognized or designated by the securities regulatory authority or, except in Ontario and Québec, the regulator as an accredited investor.

 

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