Sprott Asset Management LP Receives Unitholder Approval for Changes to Sprott
Multi-Manager Fund

TORONTO, Nov. 29 /CNW/ - Sprott Asset Management LP ("Sprott") received unitholder approval  to proceed with the change to the investment objective of Sprott Multi-Manager Fund (the "Fund") as described in the announcement made on October 18, 2010.  The change is expected to be effective as of November 30, 2010.

With the change in investment objectives, the Fund's investment strategies will also change, while the management fee for Series A units and Series F units will be reduced by 0.25% and the Fund's name will change to Sprott Tactical Balanced Fund. All of these changes will be effective as of November 30, 2010.

Sprott Tactical Balanced Fund will continue to provide exposure to a mix of investment strategies, but with greater asset class diversification by including Sprott's recently launched fixed income funds for which Scott Colbourne and Michael Craig are portfolio managers.  In addition, the Fund will employ a more flexible and opportunistic asset allocation approach to seek to improve risk-adjusted return potential in a variety of market environments.

Sprott Asset Management LP (www.sprott.com), together with its affiliates and related entities, provides management and investment advisory services to many entities, including the Sprott Mutual Funds, the Sprott Hedge Funds, the Sprott Offshore Funds, the Sprott discretionary managed accounts, and management of certain companies, such as Sprott Resource Corp.

For further information:

on Sprott Asset Management LP, please visit www.sprott.com; Investor contact information: [phone] or [phone] or [email protected]