Sprott (SII) 40-F 26 Feb 21 2020 FY Annual report (Canada) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Entity File Number	001-39298
Entity Registrant Name	Sprott Inc.
Entity Incorporation, State or Country Code	A6
Entity Address, Address Line One	Suite 2600, 200 Bay Street
Entity Address, Address Line Two	Royal Bank Plaza
Entity Address, Address Line Three	South Tower
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5J 2J1
Entity Address, Country	CA
City Area Code	416
Local Phone Number	945-3279
Title of 12(b) Security	Common Shares without par value
Trading Symbol	SII
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	25,564,224
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Central Index Key	0001512920
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
ICFR Auditor Attestation Flag	false
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	111 Eighth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10011
City Area Code	212
Local Phone Number	590-9200
Contact Personnel Name	CT Corporation System

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Current
Cash and cash equivalents	$ 44,106	$ 54,748	$ 34,637
Fees receivable	21,581	8,682	6,330
Loans receivable	0	0	11,197
Short-term investments	9,475	17,495	19,580
Other assets	9,196	12,980	7,893
Income taxes recoverable	948	1,439	1,744
Total current assets	85,306	95,344	81,381
Non-current
Loans receivable	0	0	15,207
Co-investments	82,467	55,595	56,894
Other assets	16,118	20,276	19,175
Property and equipment, net	16,611	16,230	16,392
Intangible assets	155,968	114,078	108,726
Goodwill	19,149	19,149	19,149
Deferred income taxes	1,729	4,271	4,322
Total non-current assets	292,042	229,599	239,865
Total assets	377,348	324,943	321,246
Current
Accounts payable and accrued liabilities	29,702	23,618	32,106
Compensation payable	15,192	6,912	6,939
Obligations related to securities sold short	0	0	187
Loan facility	0	3,829	0
Income taxes payable	2,347	807	445
Total current liabilities	47,241	35,166	39,677
Non-current
Other accrued liabilities	17,379	4,247	5,769
Loan facility	16,994	11,486	0
Deferred income taxes	4,751	2,414	2,291
Total liabilities	86,365	53,313	47,737
Shareholders' equity
Capital stock	417,758	407,900	407,775
Contributed surplus	43,309	43,160	42,964
Deficit	(104,484)	(108,222)	(95,422)
Accumulated other comprehensive loss	(65,600)	(71,208)	(81,808)
Total shareholders' equity	290,983	271,630	273,509
Total liabilities and shareholders' equity	377,348	324,943	321,246
Commitments and provisions

Consolidated statements of oper

Consolidated statements of operations and comprehensive income - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Revenues
Management fees		$ 72,916	$ 41,419
Carried interest and performance fees		10,075	1,811
Commissions		27,459	19,263
Finance income		3,956	11,423
Gain (loss) on investments		5,109	(1,055)
Other income		2,261	625
Total revenue		121,776	73,486
Expenses
Compensation		57,589	35,247
Trailer and sub-advisor fees		1,142	1,083
Placement and referral fees		1,045	857
Selling, general and administrative		11,555	12,479
Interest expense		1,237	1,036
Amortization of intangibles		869	879
Depreciation of property and equipment		3,183	2,916
Other expenses		10,494	6,039
Total expenses		87,114	60,536
Income before income taxes for the year		34,662	12,950
Provision for income taxes		7,684	2,741
Net income for the period		$ 26,978	$ 10,209
Net income per share:
Basic net income per share (in USD per share)	[1]	$ 1.10	$ 0.42
Diluted net income per share (in USD per share)	[1]	$ 1.05	$ 0.40
Comprehensive income [abstract]
Net income for the year		$ 26,978	$ 10,209
Other comprehensive income
Foreign currency translation gain (taxes of $Nil)		5,608	10,600
Total other comprehensive income		5,608	10,600
Comprehensive income		$ 32,586	$ 20,809
[1]	Amounts reflect retrospective application of the May 28, 2020 share consolidation (see Note 8).

Consolidated statements of op_2

Consolidated statements of operations and comprehensive income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Profit or loss [abstract]
Income taxes on foreign currency translation gain (loss)	$ 0	$ 0

Consolidated statements of chan

Consolidated statements of changes in shareholders' equity $ in Thousands		USD ($)	Capital stockshares	Capital stockUSD ($)	Capital stock	[1]	Contributed surplusUSD ($)	DeficitUSD ($)	Accumulated other comprehensive incomeUSD ($)
Number of shares outstanding at beginning of period (shares) at Dec. 31, 2018 | shares	[1]		24,306,233
Equity at beginning of period at Dec. 31, 2018		$ 273,509		$ 407,775			$ 42,964	$ (95,422)	$ (81,808)
Shares acquired for equity incentive plan (shares) | shares	[1]		(182,612)
Shares acquired for equity incentive plan		(4,906)		(4,906)
Shares released on vesting of equity incentive plan (shares) | shares	[1]		280,399
Shares released on vesting of equity incentive plan		0		4,945			(4,945)
Shares acquired and canceled under normal course issuer bid (shares) | shares	[1]		(74,060)
Shares acquired and canceled under normal course issuer bid		(1,715)		(1,715)
Foreign currency translation gain (loss)		10,600							10,600
Stock-based compensation		5,392					5,392
Issuance of share capital on conversion of RSUs and other share based considerations (shares) | shares	[1]		81,528
Issuance of share capital on conversion of RSUs and other share based considerations		1,403		1,654			(251)
Dividends declared (shares) | shares	[1]		6,151
Dividends declared		(22,862)		147				(23,009)
Net income		10,209						10,209
Number of shares outstanding at end of period (shares) at Dec. 31, 2019 | shares	[1]		24,417,639
Equity at end of period at Dec. 31, 2019		271,630		407,900			43,160	(108,222)	(71,208)
Shares acquired for equity incentive plan (shares) | shares	[1]		(128,304)
Shares acquired for equity incentive plan		(2,514)		(2,514)
Issuance of share capital on purchase of management contracts (shares) | shares	[1]		104,720
Issuance of share capital on purchase of management contracts		2,500		2,500
Share-based contingent consideration related to the Acquisition		4,879					4,879
Shares released on vesting of equity incentive plan (shares) | shares	[1]		248,883
Shares released on vesting of equity incentive plan		0		4,361			(4,361)
Issuance of share capital on exercise of stock options (shares)			150,000		150,000
Issuance of share capital on exercise of stock options		2,504		5,159			(2,655)
Shares acquired and canceled under normal course issuer bid (shares) | shares	[1]		(112,343)
Shares acquired and canceled under normal course issuer bid		(2,024)		(2,024)
Foreign currency translation gain (loss)		5,608							5,608
Stock-based compensation		4,517					4,517
Issuance of share capital on conversion of RSUs and other share based considerations (shares) | shares	[1]		103,269
Issuance of share capital on conversion of RSUs and other share based considerations		0		2,231			(2,231)
Dividends declared (shares) | shares	[1]		5,501
Dividends declared		(23,095)		145				(23,240)
Net income		26,978						26,978
Number of shares outstanding at end of period (shares) at Dec. 31, 2020 | shares	[1]		24,789,365
Equity at end of period at Dec. 31, 2020		$ 290,983		$ 417,758			$ 43,309	$ (104,484)	$ (65,600)
[1]	Amounts reflect retrospective application of the May 28, 2020 share consolidation (see Note 8).

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 26,978	$ 10,209
Add (deduct) non-cash items:
Loss (gain) on investments	(5,109)	1,055
Stock-based compensation	4,517	5,392
Depreciation and amortization of property, equipment and intangible assets	4,052	3,795
Deferred income tax expense	4,681	231
Current income tax expense	3,003	2,510
Other items	1,015	130
Income taxes paid	(795)	(1,836)
Changes in:
Fees receivable	(12,899)	(2,352)
Loans receivable	0	26,404
Other assets	(2,971)	(5,555)
Accounts payable, accrued liabilities and compensation payable	3,767	(6,933)
Cash provided by (used in) operating activities	26,239	33,050
Investing activities
Purchase of investments	(23,634)	(34,197)
Sale of investments	19,728	37,955
Purchase of property and equipment	(686)	(2,224)
Purchase of management contracts	(12,500)	0
Cash provided (used in) investing activities	(17,092)	1,534
Financing activities
Acquisition of common shares for equity incentive plan	(2,514)	(4,906)
Acquisition of common shares under normal course issuer bid	(2,024)	(1,715)
Cash received on exercise of stock options	2,504	0
Repayment of lease liabilities	(1,904)	(1,650)
Contributions from non-controlling interests	3,518	0
Net advances from loan facility	1,074	15,031
Dividends paid	(23,095)	(22,862)
Cash provided by (used in) financing activities	(22,441)	(16,102)
Effect of foreign exchange on cash balances	2,652	1,629
Net increase (decrease) in cash and cash equivalents during the period	(10,642)	20,111
Cash and cash equivalents, beginning of the year	54,748	34,637
Cash and cash equivalents, end of the period	44,106	54,748
Cash and cash equivalents:
Total cash and cash equivalents	$ 54,748	$ 34,637

Corporate information

Corporate information	12 Months Ended
	Dec. 31, 2020
Corporate Information and Statement of IFRS Compliance [Abstract]
Corporate information	Corporate informationSprott Inc. (the "Company") was incorporated under the Business Corporations Act (Ontario) on February 13, 2008. Its registered office is at Royal Bank Plaza, South Tower, 200 Bay Street, Suite 2600, Toronto, Ontario M5J 2J1.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2020
Corporate Information and Statement of IFRS Compliance [Abstract]
Summary of significant accounting policies	Statement of compliance These annual audited consolidated financial statements for the years ended December 31, 2020 and 2019 ("financial statements") have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). They have been authorized for issue by a resolution of the Board of Directors of the Company on February 25, 2021 and include all subsequent events up to that date. Basis of presentation These financial statements have been prepared on a going concern basis and on a historical cost basis, except for financial assets and financial liabilities classified as fair value through profit or loss ("FVTPL") or fair value through other comprehensive income ("FVOCI"), both of which have been measured at fair value. The financial statements are presented in US dollars and all values are rounded to the nearest thousand ($000), except when indicated otherwise. Principles of consolidation These financial statements of the Company are prepared on a consolidated basis so as to include the accounts of all limited partnerships and corporations the Company is deemed to control under IFRS. Controlled limited partnerships and corporations ("subsidiaries") are consolidated from the date the Company obtains control. All intercompany balances with subsidiaries are eliminated upon consolidation. Subsidiary financial statements are prepared over the same reporting period as the Company and are based on accounting policies consistent with that of the Company. During the year, the Company commenced consolidation of certain feeder funds due to them becoming material. The Company records third-party interests in the funds which do not qualify to be equity due to redeemable or limited life features, as non-controlling interest liabilities. Such interests are initially recognized at fair value, with any changes recorded as Other expense. Control exists if the Company has power over the entity, exposure or rights to variable returns from its involvement with the entity and the ability to use its power over the entity to affect the amount of returns the Company receives. In many, but not all instances, control will exist when the Company owns more than one half of the voting rights of a corporation, or is the sole limited and general partner of a limited partnership. The Company currently controls the following principal subsidiaries: • Sprott Asset Management LP ("SAM"); • Sprott Capital Partners LP ("SCP"); • Sprott Asia LP ("Sprott Asia") and Sprott Korea Corporation ("Sprott Korea"); • Sprott U.S. Holdings Inc. ("SUSHI"), parent of: (1) Rule Investments Inc. ("RII"); (2) Sprott Global Resource Investments Ltd. ("SGRIL"); (3) Sprott Asset Management USA Inc. ("SAM US"); and (4) Resource Capital Investment Corporation ("RCIC"). Collectively, the interests of SUSHI are referred to as "Global" in these financial statements; • Sprott Resource Lending Corp. ("SRLC"); and • Sprott Inc. 2011 Employee Profit Sharing Plan Trust (the "Trust"). Cash and cash equivalents Cash and cash equivalents consist of cash on deposit with banks and with carrying brokers, which are not subject to restrictions, and short-term interest bearing notes and treasury bills with a term to maturity of less than three months from the date of purchase. Investments Investments classified as short-term, including equity kickers received as consideration for mining finance transactions occurring primarily in our lending and brokerage segments, are held with the primary intention of short-term liquidity and capital management. Investments classified as long-term are primarily joint-venture interests or equity stakes in companies held for strategic purposes. Co-investments Co-investments are investments we make alongside clients of our various fund strategies to demonstrate the commitment and confidence we have in investment strategies we promote and operate. Financial instruments Classification and measurement of financial assets Financial assets are measured at initial recognition at fair value, and are classified and subsequently measured at FVTPL, amortized cost or FVOCI. Financial assets are measured at amortized cost if the contractual terms of the instrument give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding and it is held within a business model whose objective is to hold assets to collect contractual cash flows. Financial assets are measured at FVOCI if the contractual terms of the instrument give rise to cash flows that are solely for payments of principal and interest on the principal amount outstanding and it is held within a business model whose objective is to hold assets to collect contractual cash flow and to sell financial assets. For equity instruments that are not held for trading, the Company may also elect to irrevocably elect, on an investment by investment basis, to present changes in the fair value of an investment through OCI. All financial assets that are not measured at amortized cost or FVOCI are measured at FVTPL. This includes all derivative financial assets the Company may hold. Valuation of investments Investments include public equities, share purchase warrants, fixed income securities, mutual fund, private companies and alternative investment strategies, while co-investments are investments held in the funds managed by the Company. Public equities, share purchase warrants and fixed income securities are measured at fair value and are accounted for on a trade-date basis. Mutual fund and alternative investment strategy investments which are valued using the net asset value per unit of the fund, which represents the underlying net assets at fair values determined using closing market prices. These investments are generally made in the process of launching a new fund and are redeemed (if open-end) or sold (if closed-end) as third party investors subscribe. The balance represents the Company's maximum exposure to loss associated with the investments. Private holdings include private company investments which are classified as FVTPL and carried at fair value based on the value of the Company's interests in the private companies determined from financial information provided by management of the private companies, which may include operating results, subsequent rounds of financing and other appropriate information. Any change in fair value is recognized in gains (loss) on investments on the consolidated statements of operations and comprehensive income. Fair value hierarchy All financial instruments recognized at fair value in the consolidated balance sheets are classified into three fair value hierarchy levels as follows: • Level 1: valuation based on quoted prices (unadjusted) observed in active markets for identical assets or liabilities; • Level 2: valuation techniques based on inputs that are quoted prices of similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; inputs other than quoted prices used in a valuation model that are observable for that instrument; and inputs that are derived from or corroborated by observable market data by correlation or other means; and • Level 3: valuation techniques with significant unobservable market inputs. The Company will transfer financial instruments into or out of levels in the fair value hierarchy to the extent the instrument no longer satisfies the criteria for inclusion in the category in question. Level 3 valuations are prepared by the Company and reviewed and approved by management at each reporting date. Valuation results, including the appropriateness of model inputs, are compared to actual market transactions to the extent readily available. Valuations of level 3 assets are also discussed with the Audit and Risk Management Committee as deemed necessary by the Company. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount reported on the consolidated balance sheets if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. Impairment of financial assets Expected credit losses are a probability-weighted estimate of future credit losses. Credit losses are measured as the present value of the difference between the cash flows due to the Company in accordance with the contract and the cash flows the Company expects to receive. Loans receivable Loans receivable are financial assets with fixed or determinable payments that are held solely for payments of principal and interest on the principal amount outstanding and are held within a business model whose objective is to hold assets to collect contractual cash flows. Loans receivable are measured at amortized cost. Fees received for originating loans are considered an integral part of the yield earned on the loan and are recognized in finance income over the term of the loan using the effective interest method. Fees received may include cash payments and/or securities in the borrower. At each reporting date, management assesses the probability of default and the loss given default using economic and market trends, quoted credit rating of the borrower, market value of the asset, and appraisals, if any, of the security underlying the loan. The impairment is then classified into three stages: • Stage 1 - For loans where credit risk has not increased significantly, an impairment is recognized equal to the credit losses expected to result from defaults occurring over the following twelve months. • Stage 2 - For loans where credit risk has increased significantly, an impairment is recognized equal to the credit losses expected to result from defaults occurring over the life of the loan. • Stage 3 - For loans which are credit impaired, a loss allowance is recognized equal to the expected credit losses over the expected lifetime of the Loan. Any subsequent recognition of finance income for which an expected credit loss provision exists, is calculated at the discount rate used in determining the provision, which may differ from the contractual rate of interest. Recognition of income and related expenses The Company receives variable consideration in the form of management fees, which are allocated to distinct time periods in which the management services are being provided. Management fees are recognized when they are no longer susceptible to market factors and no longer subject to a significant reversal in revenue. The Company may also earn variable consideration in the form of carried interest and performance fees. These fees are recognized when they are no longer susceptible to market factors or subject to significant reversal in revenue, which is determined subject to agreements in the underlying funds. Commission income is recognized when the related services are rendered and no longer subject to a significant reversal in revenue. Finance income, which includes interest income and co-investment income, is recognized on an accrual basis using the effective interest method. Under the effective interest method, the interest rate realized is not necessarily the same as the stated rate in the loan or debenture documents. The effective interest rate is the rate required to discount the future value of all loan or debenture cash flows to their present value and is adjusted for the receipt of cash and non-cash items in connection with the loan. Costs related to obtaining a contract with clients ("placement fees") are amortized on a systematic basis related to the transfer of services to those clients. Property and equipment Property and equipment are recorded at cost and are amortized on a declining balance basis over the expected useful life which ranges from 1 to 5 years. Leasehold improvements are amortized on a straight-line basis over the term of the lease. Artwork is not amortized since it does not have a determinable useful life. The residual values, useful life and methods of amortization for property and equipment are reviewed at each reporting date and adjusted prospectively, if necessary. Any loss resulting from impairment of property and equipment is expensed in the period the impairment is identified. Intangible assets The useful life of an intangible asset is either finite or indefinite. Intangible assets other than goodwill are recognized when they are separable or arise from contractual or other legal rights, and have fair values that can be reliably measured. Intangible assets that are purchased are measured at the acquisition date and include the fair value of considerations transfered, and include an estimate for contingent consideration where applicable. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. Intangible assets with finite lives are only tested for impairment if indicators of impairment exist at the time of an impairment assessment. The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed at each reporting date. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense and any impairment losses on intangible assets with finite lives are recognized in the consolidated statements of operations. Intangible assets with indefinite useful lives are not amortized, but are assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. In addition to impairment indicator assessments, indefinite life intangibles must be tested annually for impairment. The indefinite life of an intangible asset is reviewed annually to determine whether the indefinite life continues to be supportable. If no longer supportable, changes in useful life from indefinite to finite are made prospectively. Any loss resulting from impairment of intangible assets is expensed in the period the impairment is identified. Any gain resulting from an impairment reversal of intangible assets is recognized in the period the impairment reversal is identified but cannot exceed the carrying amount that would have been determined (net of amortization and impairment) had no impairment loss been recognized for the intangible asset in prior periods. Business combinations and goodwill The purchase price of an acquisition accounted for under the acquisition method is allocated based on the fair values of the net identifiable assets acquired. The excess of the purchase price over the fair values of such identifiable net assets is recorded as goodwill. Goodwill, which is measured at cost less any accumulated impairment losses, is not amortized, but rather, is assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. In addition to quarterly impairment indicator assessments, goodwill must be tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to each of the Company's cash generating units ("CGUs") that are expected to benefit from the acquisition. The recoverable amount of a CGU is compared to its carrying value plus any goodwill allocated to the CGU. If the recoverable amount of a CGU is less than its carrying value plus allocated goodwill, an impairment charge is recognized, first against the carrying value of the goodwill, with any remaining difference being applied against the carrying value of assets contained in the impacted CGUs. Impairment losses on goodwill are recorded in the consolidated statements of operations and comprehensive income and cannot be subsequently reversed. Income taxes Income tax is comprised of current and deferred tax. Income tax is recognized in the consolidated statements of operations and comprehensive income except to the extent that it relates to items recognized directly in other comprehensive income or elsewhere in equity, in which case, the related taxes are also recognized in other comprehensive income (loss) or elsewhere in equity. Deferred taxes are recognized using the liability method for temporary differences that exist between the carrying amounts of assets and liabilities in the consolidated balance sheet and the amounts attributed to such assets and liabilities for tax purposes. Deferred tax assets and liabilities are determined based on the enacted or substantively enacted tax rates that are expected to apply when the differences related to the assets or liabilities reported for tax purposes are expected to reverse in the future. Deferred tax assets are recognized only when it is probable that sufficient taxable profits will be available or taxable temporary differences reversing in future periods against which deductible temporary differences may be utilized. Deferred taxes liabilities are not recognized on the following temporary differences: • Temporary differences on the initial recognition of assets and liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; • Taxable temporary differences related to investments in subsidiaries, associates or joint ventures or joint operations to the extent they are controlled by the Company and they will not reverse in the foreseeable future; • Taxable temporary differences arising on the initial recognition of goodwill. The Company records a provision for uncertain tax positions if it is probable that the Company will have to make a payment to tax authorities upon their examination of a tax position. This provision is measured at the Company's best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or determined by statute. The measurement of tax assets and liabilities requires an assessment of the potential tax consequences of items that can only be resolved through agreement with the tax authorities. While the ultimate outcome of such tax audits and discussions cannot be determined with certainty, management estimates the level of provisions required for both current and deferred taxes. Share-based payments The Company uses the fair value method to account for equity settled share-based payments with employees and directors. Compensation expense is determined using the Black‑Scholes option valuation model for stock options. Compensation expense for the share incentive program is determined based on the fair value of the benefit conferred on the employee. Compensation expense for deferr ed stock units ("DSU") is determined based on the value of the Company's common shares at the time of grant. Compensation expense for earn-out shares is determined using appropriate valuation models. Compensation expense related to the Company's Employee Profit Sharing Plan is determined based on the value of the Company's common shares purchased by the Trust as of the grant date. Compensation expense is recognized over the vesting period wit h a corresponding increase to contributed surplus other than for the Company's DSUs where the corresponding increase is to liabilities. Stock options and common shares held by the Trust vest in installments which require a graded vesting methodology to account for these share-based awards. On the exercise of stock options for shares, the contributed surplus previously recorded with respect to the exercised options and the consideration paid is credited to capital stock. On the issuance of the earn-out shares, the contributed surplus previously recorded with respect to the issued earn-out shares is credited to capital stock. On the vesting of common shares in the Trust, the contributed surplus previously recorded is credited to capital stock. On the exercise of DSUs, the liability previously recorded is credited to cash. Earnings per share Basic and diluted earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the period. The Company applies the treasury stock method to determine the dilutive impact, if any, of stock options and unvested shares purchased for the Trust. The treasury stock method determines the number of incremental common shares by assuming that the number of dilutive securities the Company has granted to employees have been issued. Lease commitments The Company recognizes a right-to-use asset and a lease liability as at the lease commencement date. The right-to-use asset is initially measured at cost and subsequently at cost less any accumulated depreciation and impairment. The lease liability is initially measured at the present value of future lease payments over the anticipated lease term, discounted using the Company's incremental borrowing rate. The right-to-use asset is presented in the property and equipment line of the consolidated balance sheet and the short and long-term portions of the lease liability are presented in the accounts payable and accrued liabilities line and other accrued liabilities line, respectively, of the consolidated balance sheet. The Company used the practical expedient when applying IFRS 16 , Leases for short-term leases under 12 months and low-value assets such as IT equipment, with lease payments being expensed as they are occurred. Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to management. Management is responsible for allocating resources and assessing performance of the operating segments to make strategic decisions. Significant accounting judgments and estimates The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Company based its assumptions and estimates on parameters available when these financial statements were prepared. Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions and estimates as they occur. Fair value of financial instruments When the fair value of financial assets and financial liabilities recorded in the consolidated balance sheets cannot be derived from active markets, they are determined using valuation techniques and models. Model inputs are taken from observable markets where possible, but where this is not feasible, unobservable inputs may be used. These unobservable inputs include, but are not limited to, projected cash flows, discount rates, comparable recent transactions, volatility of underlying securities in warrant valuations and extraction recovery rates of mining projects. The use of unobservable inputs can involve significant judgment and materially affect the reported fair value of financial instruments. Deferred tax assets Deferred tax assets are recognized for unused tax losses to the extent it is probable that sufficient taxable profit will be generated in order to utilize the losses. In addition, taxable income is subject to estimation as a portion of performance fee revenue is an allocation of partnership income. Such allocations involve a certain degree of estimation and income tax estimates could change as a result of: (1) changes in tax laws and regulations, both domestic and foreign; (2) an amendment to the calculation of partnership income allocation; or (3) a change in foreign affiliate rules. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized based on the likely timing and the level of future taxable profits together with future tax planning strategies. Investments in other entities IFRS 10 Consolidated Financial Statements ("IFRS 10") and IAS 28 Investments in Associates and Joint Ventures ("IAS 28") provide for the use of judgment in determining whether an investee should be included within the consolidated financial statements of the Company and on what basis (subsidiary, joint venture or associate). Significant judgment is applied in evaluating facts and circumstances relevant to the Company and investee, including: (1) the extent of the Company's direct and indirect interests in the investee; (2) the level of compensation to be received from the investee for management and other services provided to it; (3) "kick out rights" available to other investors in the investee; and (4) other indicators of the extent of power that the Company has over the investee. Impairment of goodwill and intangible assets All indefinite life intangible assets and goodwill are assessed for impairment, however, finite life intangibles are only tested for impairment to the extent indications of impairment exist at time of a quarterly assessment. In the case of goodwill and indefinite life intangibles, an annual test for impairment augments the quarterly impairment indicator assessments. Values associated with goodwill and intangibles involve estimates and assumptions, including those with respect to future cash inflows and outflows, discount rates and asset lives. These estimates require significant judgment regarding market growth rates, fund flow assumptions, expected margins and costs which could affect the Company's future results if estimates of future performance and fair value change. Contingent consideration The Acquisition necessitated the recognition of contingent consideration for the amounts payable in cash and shares under the terms of the purchase agreement. The cash settled portion of the contingent consideration was measured at the closing date fair value, based on management’s estimate of the level of future revenue obtained from the contracts over the contingent consideration measurement period. The equity settled portion of the contingent consideration was measured at its grant date fair value in accordance with the requirements of IFRS 2 Share-based Payment . The key judgments utilized in the estimation of the contingent consideration were fund flow assumptions. As at December 31, 2020, the contingent consideration payable was updated to refle ct current estimates with the resulting adjustment recorded in Other expense. Foreign currency translation Accounts in the financial statements of the Company's subsidiaries are measured using their functional currency, being the currency of the primary economic environment in which the entity operates. The Company's performance is evaluated and its liquidity is managed in Canadian dollars. Therefore, the Canadian dollar is the functional currency of the Company. The Canadian dollar is also the functional currency of all its subsidiaries, with the exception of Global Companies, which uses the U.S. dollar as its functional currency. Accordingly, the assets and liabilities of Global Companies are translated into Canadian dollars using the rate in effect on the date of the consolidated balance sheets. Revenue and expenses are translated at the average rate over the reporting period. Foreign currency translation gains and losses arising from the Company's translation of its net investment in Global companies, including goodwill and the identified intangible assets, are included in accumulated other comprehensive income or loss as a separate component within shareholders' equity until there has been a realized reduction in the value of the underlying investment. Changes in accounting policies Change in presentation currency Effective January 1, 2020, the Company changed its presentation currency from Canadian to US dollars to better reflect the Company's business activities, given the significance of our revenues denominated in US dollars that further increased in 2020 with the January 17, 2020 close of Tocqueville Asset Management's gold strategies ("the Acquisition"). The Company followed the guidance of IAS 21 Effects of Changes in Foreign Exchange Rates ("IAS 21") and have applied the change retroactively. As a result, the Company has restated prior year comparatives, including the January 1 opening balance sheet as required by IFRS 1 First-Time Adoption of International Financial Reporting Standards ("IFRS 1"). The change in presentation currency had the following effect: • Assets and liabilities have been translated at the exchange rate on the respective reporting dates; • Equity transactions have been translated at the historical exchange rate at the date of the transaction; • The statements of operations and comprehensive income have been translated at the average exchange rate on the respective reporting dates; and • Exchange differences arising on translation are presented in the accumulated other comprehensive loss line in shareholders' equity on the balance sheets. The exchange rates used for prior periods were as follows: Dec. 31, 2019 Sep. 30, 2019 Jun. 30, 2019 Mar. 31, 2019 Jan. 1, As at reporting date 1.31 1.32 1.31 1.34 1.36 Average rate for the 3 month ended 1.32 1.32 1.34 1.33 1.32

Short-term investments

Short-term investments	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Short-term investments	Short-term investments Primarily consist of equity investments in public and private entities we receive as consideration during lending, managed equities and brokerage segment activities (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Public equities and share purchase warrants FVTPL 6,751 10,520 Fixed income securities FVTPL 731 4,220 Private holdings: - Private investments FVTPL 1,993 1,864 - Energy contracts Non-financial instrument — 891 Total short-term investments 9,475 17,495 Gains and losses on financial assets and liabilities classified at FVTPL are included in the gain (loss) on investments on the consolidated statements of operations and comprehensive income. Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Co-investments in funds FVTPL 82,467 55,595 Total co-investments 82,467 55,595 Gains and losses on co-investments in funds are included in the gain (loss) on investments on the consolidated statements of operations and comprehensive income.

Co-investments

Co-investments	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Co-investments	Short-term investments Primarily consist of equity investments in public and private entities we receive as consideration during lending, managed equities and brokerage segment activities (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Public equities and share purchase warrants FVTPL 6,751 10,520 Fixed income securities FVTPL 731 4,220 Private holdings: - Private investments FVTPL 1,993 1,864 - Energy contracts Non-financial instrument — 891 Total short-term investments 9,475 17,495 Gains and losses on financial assets and liabilities classified at FVTPL are included in the gain (loss) on investments on the consolidated statements of operations and comprehensive income. Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Co-investments in funds FVTPL 82,467 55,595 Total co-investments 82,467 55,595 Gains and losses on co-investments in funds are included in the gain (loss) on investments on the consolidated statements of operations and comprehensive income.

Other assets, income, expenses

Other assets, income, expenses and non-controlling interest	12 Months Ended
	Dec. 31, 2020
Interest in Other Entities [Abstract]
Other assets, income, expenses and non-controlling interest	Other assets, income, expenses and non-controlling interest Other assets Consist of the following (in thousands $): Dec. 31, 2020 Dec. 31, 2019 Digital gold strategies (1) 11,518 18,913 Fund recoveries and investment receivables 6,043 5,951 Assets attributable to non-controlling interests 3,518 — Prepaid expenses 2,316 4,355 Other (2) 1,919 2,231 Deferred costs related to the Acquisition (3) — 1,806 Total other assets 25,314 33,256 (1) Digital gold strategies are financial instruments classified at FVTPL. Gains and losses are included in gain (loss) on investments on the consolidated statements of operations. These investments were reclassified from long-term investments to other assets. (2) I ncludes miscellaneous third-party receivables. (3) Includes legal, proxy and investor relations costs. Other income Consist of the following (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Investment income (1) 1,502 625 Income attributable to non-controlling interest 759 — Total other income 2,261 625 (1) Primarily includes miscellaneous investment fund income, syndication and trailer fee income. Other expenses Consist of the following (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Costs related to energy assets 798 577 Foreign exchange losses 772 1,503 Increase in contingent consideration related to the Acquisition 4,717 — Other (1) 4,207 3,959 Total other expenses 10,494 6,039 (1) Includes net income attributable to non-controlling interest of $565 thousand and SG&A attributable to non-controlling interest of $194 thousand for the year ended December 31, 2020 (year ended December 31, 2019 - $Nil) as well as non-recurring professional fees and transaction costs. Non-controlling interest Non-controlling interest consist of third-party interest in our consolidated co-investments in funds. The following table provide a summary of amounts attributable to this non-controlling interest: Dec. 31, 2020 Dec. 31, 2019 Assets 3,518 — Liabilities - current (1) (640) — Liabilities - long-term (1) (2,878) — (1) Current and long-term Liabilities attributable to non-controlling interest is included in accounts payable and accrued liabilities and other accrued liabilities respectively

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Property and equipment	Property and equipment Consist of the following (in thousands $): Artwork Furniture and fixtures Computer hardware and software Leasehold improvements Right of use assets Total Cost At Dec. 31, 2018 7,040 2,321 2,613 3,077 — 15,051 Additions — 107 — 2,117 7,182 9,406 Net exchange differences 312 99 93 138 302 944 At Dec. 31, 2019 7,352 2,527 2,706 5,332 7,484 25,401 Additions — 279 153 254 2,435 3,121 Net exchange differences 167 70 71 135 322 765 At Dec. 31, 2020 7,519 2,876 2,930 5,721 10,241 29,287 Accumulated amortization At Dec. 31, 2018 — (2,288) (2,099) (1,621) — (6,008) Depreciation charge for the year — (43) (324) (926) (1,623) (2,916) Net exchange differences — (71) (87) (70) (19) (247) At Dec. 31, 2019 — (2,402) (2,510) (2,617) (1,642) (9,171) Depreciation charge for the year — (68) (205) (970) (1,940) (3,183) Net exchange differences — (26) (59) (133) (104) (322) At Dec. 31, 2020 — (2,496) (2,774) (3,720) (3,686) (12,676) Net book value at: Dec. 31, 2019 7,352 125 196 2,715 5,842 16,230 Dec. 31, 2020 7,519 380 156 2,001 6,555 16,611

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2020
Intangible Assets [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Consist of the following (in thousands $): Goodwill Fund Fund Total Cost At Dec. 31, 2018 132,251 97,744 34,768 264,763 Additions — 1,376 — 1,376 Net exchange differences — 4,350 1,540 5,890 At Dec. 31, 2019 132,251 103,470 36,308 272,029 Additions — 36,107 — 36,107 Net exchange differences — 6,454 198 6,652 At Dec 31, 2020 132,251 146,031 36,506 314,788 Accumulated amortization At Dec. 31, 2018 (113,102) — (23,753) (136,855) Amortization charge for the year — — (879) (879) Net exchange differences — — (1,068) (1,068) At Dec. 31, 2019 (113,102) — (25,700) (138,802) Amortization charge for the year — — (869) (869) At Dec 31, 2020 (113,102) — (26,569) (139,671) Net book value at: Dec. 31, 2019 19,149 103,470 10,608 133,227 Dec. 31, 2020 19,149 146,031 9,937 175,117 Impairment assessment of goodwill The Company has identified 5 cash generating units ("CGU") as follows: • Exchange listed products • Managed equities • Lending • Brokerage • Corporate As at December 31, 2020, the Company had allocated $19.1 million (December 31, 2019 - $19.1 million) of goodwill on a relative value approach basis to the exchange listed products and managed equities CGUs. In the normal course, goodwill is tested for impairment once per annum, which for the Company is during the fourth quarter of each year or earlier if there are indicators of impairment. During the impairment testing process, there was no impairment in either the exchange listed products or the managed equities CGUs. Impairment assessment of indefinite life fund management contracts As at December 31, 2020, the Company had indefinite life intangibles related to fund management contracts of $146 million (December 31, 2019 - $103.5 million). The addition during the year relates to the Acquisition. The cost of the intangible asset was recorded at the fair value of consideration transferred of $15 million, including contingent consideration of $19.3 million (see Note 2) and the acquisition costs directly attributable to the purchase of the management contracts of $1.8 million (see Note 5). There was no impairment as at December 31, 2020 or 2019. Impairment assessment of finite life fund management contracts As at December 31, 2020, the Company had exchange listed fund management contracts within the exchange listed products CGU of $9.9 million (December 31, 2019 - $10.6 million). There was no impairment as at December 31, 2020 or 2019.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2020
Share Capital, Reserves and Other Equity Interests [Abstract]
Shareholders' equity	Shareholders' equity On May 28, 2020, the Company successfully completed a 10:1 common share consolidation. Shareholders received 1 post-consolidation share for every 10 pre-consolidation shares. All information pertaining to shares and per-share amounts in the financial statements for periods before May 28 reflect retrospective treatment of this share consolidation. Capital stock and contributed surplus The authorized and issued share capital of the Company consists of an unlimited number of common shares, without par value. Number Stated value At Dec. 31, 2018 24,306,233 407,775 Issuance of share capital under dividend reinvestment program 6,151 147 Shares acquired and cancelled under normal course issuer bid (74,060) (1,715) Issuance of share capital on conversion of RSUs 81,528 1,654 Shares acquired for equity incentive plan (182,612) (4,906) Shares released on vesting of equity incentive plan 280,399 4,945 At Dec. 31, 2019 24,417,639 407,900 Shares acquired for equity incentive plan (128,304) (2,514) Issuance of share capital on purchase of management contracts 104,720 2,500 Shares released on vesting of equity incentive plan 248,883 4,361 Issuance of share capital on exercise of stock options 150,000 5,159 Shares acquired and canceled under normal course issuer bid (112,343) (2,024) Issuance of share capital on conversion of RSUs and other share based considerations 103,269 2,231 Issuance of share capital under dividend reinvestment program 5,501 145 At Dec. 31, 2020 24,789,365 417,758 Contributed surplus consists of: stock option expense; earn-out shares expense; equity incentive plans' expense; and additional purchase consideration. Stated value At Dec. 31, 2018 42,964 Stock-based compensation 5,392 Issuance of share capital on conversion of RSUs (251) Released on vesting of common shares for equity incentive plan (4,945) At Dec. 31, 2019 43,160 Share-based contingent consideration related to the Acquisition 4,879 Shares released on vesting of common shares for equity incentive plan (4,361) Shares released on exercise of stock options (2,655) Stock-based compensation 4,517 Issuance of share capital on conversion of RSUs and other share based considerations (2,231) At Dec. 31, 2020 43,309 Stock option plan The Company has an option plan (the "Plan") intended to provide incentives to directors, officers and employees of the Company and its wholly owned subsidiaries. The aggregate number of shares issuable upon the exercise of all options granted under the Plan and under all other stock-based compensation arrangements including the Trust and Equity Incentive Plan ("EIP") cannot exceed 10% of the issued and outstanding shares of the Company as at the date of grant. The options may be granted at a price that is not less than the market price of the Company's common shares at the time of grant. The options vest annually over a three-year period and may be exercised during a period not to exceed 10 years from the date of grant. There were 150,000 stock options exercised during the year ended December 31, 2020 (year ended December 31, 2019 - Nil) and 15,000 options expired during the year ended December 31, 2020 (year ended December 31, 2019 - Nil). There were no stock options issued during the year ended December 31, 2020 (year ended December 31, 2019 - Nil). For valuing share option grants, the fair value method of accounting is used. The fair value of option grants is determined using the Black-Scholes option-pricing model, which takes into account the exercise price of the option, the current share price, the risk-free interest rate, the expected volatility of the share price over the life of the option and other relevant factors. Compensation cost is recognized over the vesting period, assuming an estimated forfeiture rate, with an offset to contributed surplus. When exercised, amounts originally recorded against contributed surplus as well as any consideration paid by the option holder is credited to capital stock. A summary of the changes in the Plan is as follows: Number of options Weighted average exercise price (CAD $) Options outstanding, Dec. 31, 2018 327,500 25.70 Options exercisable, Dec. 31, 2018 187,500 27.00 Options outstanding, Dec. 31, 2019 327,500 25.70 Options exercisable, Dec. 31, 2019 257,500 26.00 Options exercised during the year ended 2020 (150,000) 23.30 Options expired during the year ended 2020 (15,000) 66.00 Options outstanding, Dec. 31, 2020 162,500 23.61 Options exercisable, Dec. 31, 2020 162,500 23.61 Options outstanding and exercisable as at December 31, 2020 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 5.1 150,000 27.30 12,500 5.4 12,500 23.30 to 27.30 162,500 5.1 162,500 Equity incentive plan For employees in Canada, the Trust has been established and the Company will fund the Trust with cash, which will be used by the trustee to purchase: (1) on the open market, common shares of the Company that will be held in the Trust until the awards vest and are distributed to eligible members; or (2) from treasury, common shares of the Company that will be held in the Trust until the awards vest and are distributed to eligible employees; and (3) from time-to-time, purchases from 2176423 Ontario Ltd., a company controlled by Eric Sprott, pursuant to the terms and conditions of a previously announced share transaction. For employees in the U.S. under the EIP plan, the Company will allot common shares of the Company as either: (1) restricted stock; (2) unrestricted stock; or (3) restricted stock units ("RSUs"), the resulting common shares of which will be issued from treasury. There were 104,858 RSUs granted during the year ended December 31, 2020 (year ended December 31, 2019 - 69,954). The Trust acquired 128,304 shares in the year ended December 31, 2020 (year ended December 31, 2019 - 182,612 shares). Number of Common shares held by the Trust, Dec. 31, 2018 993,225 Acquired 182,612 Released on vesting (280,399) Unvested common shares held by the Trust, Dec. 31, 2019 895,438 Acquired 128,304 Released on vesting (248,883) Unvested common shares held by the Trust, Dec. 31, 2020 774,859 Of the $57.6 million compensation expense for the year ended December 31, 2020, $4.5 million relates to stock-based compensation, details of which are presented in the table below (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Stock option plan 10 188 EIP 4,507 5,204 Total stock-based compensation 4,517 5,392 Basic and diluted earnings per share The following table presents the calculation of basic and diluted earnings per common share: For the years ended Dec. 31, 2020 Dec. 31, 2019 Numerator (in thousands $): Net income - basic and diluted 26,978 10,209 Denominator (Number of shares in thousands): Weighted average number of common shares 25,464 25,356 Weighted average number of unvested shares purchased by the Trust (976) (969) Weighted average number of common shares - basic 24,488 24,387 Weighted average number of dilutive stock options 163 312 Weighted average number of unvested shares under EIP 1,132 969 Weighted average number of common shares - diluted 25,783 25,668 Net income per common share Basic 1.10 0.42 Diluted 1.05 0.40 Capital management The Company's objectives when managing capital are: • to meet regulatory requirements and other contractual obligations; • to safeguard the Company's ability to continue as a going concern so that it can continue to provide returns for shareholders; • to provide financial flexibility to fund possible acquisitions; • to provide adequate seed capital for the Company's new product offerings; and • to provide an adequate return to shareholders through growth in assets under management, growth in management fees, carried interest and performance fees and return on the Company's invested capital that will result in dividend payments to shareholders. The Company's capital is comprised of equity, including capital stock, contributed surplus, retained earnings (deficit) and accumulated other comprehensive income (loss). SCP is a member of the Investment Industry Regulatory Organization of Canada ("IIROC"), SAM is a registrant of the Ontario Securities Commission ("OSC") and the U.S. Securities and Exchange Commission ("SEC"), SAM US is registered with the SEC and SGRIL is a member of the Financial Industry Regulatory Authority ("FINRA "). As a result, all of these entities are required to maintain a minimum level of regulatory capital. To ensure compliance, management monitors regulatory and working capital on a regular basis. As at December 31, 2020 and 2019, all entities were in compliance with their respective capital requirements.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2020
Income Taxes [Abstract]
Income taxes	Income taxes The major components of income tax expense are as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Current income tax expense (recovery) Based on taxable income of the current period 2,901 2,395 Adjustments in respect to previous years 102 115 Total current income tax expense 3,003 2,510 Deferred income tax expense (recovery) Origination and reversal of temporary differences 5,373 231 Adjustments in respect to previous years (692) — Total deferred income tax expense 4,681 231 Income tax expense reported in the consolidated statements of operations 7,684 2,741 Taxes calculated on the Company's earnings differs from the theoretical amount that would arise using the weighted average tax rate applicable to earnings of the Company as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Income before income taxes 34,662 12,950 Tax calculated at domestic tax rates applicable to profits in the respective countries 9,324 3,432 Tax effects of: Non-deductible stock-based compensation 356 107 Non-taxable capital (gains) and losses 841 (47) Intangibles (458) 87 Adjustments in respect of previous periods (590) 115 Non-capital losses and other temporary differences not benefited previously (1,563) (1,405) Rate differences and other (226) 452 Tax charge 7,684 2,741 The weighted average statutory tax rate was 26.9% (December 31, 2019 - 26.5%). The Company has $8 million of capital tax losses from prior years that will begin to expire in 2022. The benefit of these capital losses has not been recognized. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets are recognized for tax loss carry-forwards to the extent that the realization of the related tax benefit through future taxable profits is probable. The ability to realize the tax benefits of these losses is dependent upon a number of factors, including the future profitability of operations in the jurisdictions in which the tax losses arose. The movement in significant components of the Company's deferred income tax assets and liabilities is as follows (in thousands $): For the year ended December 31, 2020 Dec. 31, 2019 Recognized in income Exchange rate differences Dec. 31, 2020 Deferred income tax assets Stock-based compensation 4,117 (368) 72 3,821 Non-capital and capital losses 3,432 (1,195) 33 2,270 Other 247 230 (42) 435 Total deferred income tax assets 7,796 (1,333) 63 6,526 Deferred income tax liabilities Fund management contracts 6,809 2,360 277 9,446 Unrealized gains (losses) (910) 997 31 118 Other 40 (9) (47) (16) Total deferred income tax liabilities 5,939 3,348 261 9,548 Net deferred income tax assets (liabilities) (1) 1,857 (4,681) (198) (3,022) For the year ended December 31, 2019 (2) Dec. 31, 2018 Recognized in income Exchange rate differences Dec. 31, 2019 Deferred income tax assets Stock-based compensation 3,349 606 162 4,117 Non-capital losses 3,678 (372) 126 3,432 Unrealized losses 283 604 23 910 Other 376 (143) 14 247 Total deferred income tax assets 7,686 695 325 8,706 Deferred income tax liabilities Fund management contracts 5,141 1,404 264 6,809 Other 514 (478) 4 40 Total deferred income tax liabilities 5,655 926 268 6,849 Net deferred income tax assets (1) 2,031 (231) 57 1,857 (1) Deferred tax assets of $1.7 million (December 31, 2019 - $4.3 million) and deferred tax liabilities of $4.8 million (December 31, 2019 - $2.4 million) are presented on the balance sheet net by legal jurisdiction. (2) Certain comparative figures have been reclassified to conform with current year presentation

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Measurement [Abstract]
Fair value measurements	Fair value measurements The following tables present the Company's recurring fair value measurements within the fair value hierarchy. The Company did not have non-recurring fair value measurements as at December 31, 2020 and December 31, 2019 (in thousands $). Short-term investments Dec. 31, 2020 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 5,101 1,379 271 6,751 Fixed income securities — 731 — 731 Private holdings — — 1,993 1,993 Total net recurring fair value measurements 5,101 2,110 2,264 9,475 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 7,537 2,983 — 10,520 Fixed income securities — 3,454 766 4,220 Private holdings — — 1,864 1,864 Total net recurring fair value measurements 7,537 6,437 2,630 16,604 Co-investments Dec. 31, 2020 Level 1 Level 2 Level 3 Total Co-investments in funds — 76,026 6,441 82,467 Total net recurring fair value measurements — 76,026 6,441 82,467 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Co-investments in funds — 51,065 4,530 55,595 Total net recurring fair value measurements — 51,065 4,530 55,595 Other assets Dec. 31, 2020 Level 1 Level 2 Level 3 Total Digital gold strategies — — 11,518 11,518 Total net recurring fair value measurements — — 11,518 11,518 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Digital gold strategies — — 18,913 18,913 Total net recurring fair value measurements — — 18,913 18,913 The following tables provides a summary of changes in the fair value of Level 3 financial assets (in thousands $): Short-term investments Changes in the fair value of Level 3 measurements - Dec. 31 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Share purchase warrants — 271 — — 271 Private holdings 1,864 — (15) 144 1,993 Fixed income securities 766 (783) — 17 — 2,630 (512) (15) 161 2,264 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Private holdings 2,075 34 (43) (202) 1,864 Fixed income securities 733 — — 33 766 2,808 34 (43) (169) 2,630 Co-investments Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Co-investments in funds 4,530 1,628 — 283 6,441 4,530 1,628 — 283 6,441 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Co-investments in funds 3,574 1,193 — (237) 4,530 3,574 1,193 — (237) 4,530 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Digital gold strategies 18,913 500 — (7,895) 11,518 18,913 500 — (7,895) 11,518 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Digital gold strategies 18,285 2,574 — (1,946) 18,913 18,285 2,574 — (1,946) 18,913 During the year ended December 31, 2020, the Company transferred public equities of $0.5 million (December 31, 2019 - $2.5 million) from Level 2 to Level 1 within the fair value hierarchy due to the release of trading restrictions by the issuer. For the year ended December 31, 2020, the Company purchased level 3 investments of $2.1 million (December 31, 2019 - $3.8 million). For the year ended December 31, 2020, the Company transferred $Nil million (December 31, 2019 - $0.1 million) from Level 3 to Level 1 within the fair value hierarchy. For the year ended December 31, 2020, the Company transferred $0.3 million (December 31, 2019 - $Nil) from level 2 to level 3 due to the impact of volatility of the underlying security on the fair value of share purchase warrants. For the year ended December 31, 2020, the Company transferred $0.8 million (December 31, 2019 - $Nil) from Level 3 to Level 2 within the fair value hierarchy due to the exercise of a conversion option into equity. The following table presents the valuation techniques used by the Company in measuring fair values: Type Valuation technique Public equities and share purchase warrants Fair values are determined using pricing models which incorporate all available market-observable inputs. Alternative funds and private equity funds Fair values are based on the last available net asset value. Fixed income securities Fair values are based on independent market data providers or third-party broker quotes. Private holdings (including digital gold strategies) Fair values based on variety of valuation techniques, including discounted cash flows, comparable recent transactions and other techniques used by market participants. The Company’s Level 3 securities consist of private holdings, private equity funds and fixed income securities of private companies. The significant unobservable inputs used in these valuation techniques can vary considerably over time, and include grey market financing prices, discount rates and extraction recovery rates of mining projects. A significant change in any of these inputs in isolation would result in a material impact in fair value measurement. The potential impact of a 5% change in the significant unobservable inputs on profit or loss would be approximately $1 million (December 31, 2019 - $0.9 million). Financial instruments not carried at fair value For fees receivable, other assets, accounts payable and accrued liabilities and compensation payable, the carrying amount represents a reasonable approximation of fair value.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2020
Related Party [Abstract]
Related party transactions	Related party transactions The remuneration of directors and other key management personnel of the Company for employment services rendered are as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Fixed salaries and benefits 3,247 2,155 Variable incentive-based compensation 8,715 3,405 Share-based compensation 1,817 1,678 13,779 7,238

Dividends

Dividends	12 Months Ended
	Dec. 31, 2020
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends	Dividends The following dividends were declared by the Company during the twelve months ended December 31, 2020: Record date Payment Date Cash dividend per share (1) Total dividend amount (in thousands $) March 9, 2020 - Regular dividend Q4 2019 March 24, 2020 CAD$0.30 5,387 May 19, 2020 - Regular dividend Q1 2020 June 3, 2020 CAD$0.30 5,560 August 17, 2020 - Regular dividend Q2 2020 September 1, 2020 US$0.23 5,915 November 23, 2020 - Regular dividend Q3 2020 December 8, 2020 US$0.25 6,378 Dividends (2) 23,240 (1) Dividends per share for periods before May 28 reflect retrospective treatment of the 10:1 share consolidation. (2) Subsequent to year end, on February 25, 2021, a regular dividend of US$0.25 per common share was declared for the quarter ended December 31, 2020. This dividend is payable on March 23, 2021 to shareholders of record at the close of business on March 8, 2021.

Risk management activities

Risk management activities	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Risk management activities	Risk management activities The Company's exposure to market, credit, liquidity, concentration, and COVID-19 risks are described below: Market risk Market risk refers to the risk that a change in the level of one or more of market prices, interest rates, foreign exchange rates, indices, volatilities, correlations or other market factors, such as liquidity, will result in a change in the fair value of an asset. The Company's financial instruments are classified as FVTPL. Therefore, certain changes in fair value or permanent impairment, if any, affect reported earnings as they occur. The maximum risk resulting from financial instruments is determined by the fair value of the financial instruments. The Company manages market risk through regular monitoring of its proprietary investments and loans receivable. The Company separates market risk into three categories: price risk, interest rate risk and foreign currency risk. Price risk Price risk arises from the possibility that changes in the price of the Company's investments and co-investments will result in changes in carrying value. If the market values of investments and co-investments classified as FVTPL increased or decreased by 5%, with all other variables held constant, this would have resulted in an increase or decrease in net income before tax of approximately $5.2 million for the year (December 31, 2019 - $4.5 million). For more details about the Company's investments and co-investments, refer to Note 3 and Note 4. The Company's revenues are also exposed to price risk since management fees, performance fees and carried interests are correlated with assets under management, which fluctuates with changes in the market values of the assets in the funds and managed accounts managed by SAM, SRLC, SC, RCIC and SAM US. Interest rate risk Interest rate risk arises from the possibility that changes in interest rates will adversely affect the value of, or cash flows from, financial instrument assets. The Company’s earnings, particularly through its co-investment in lending LPs, are exposed to volatility as a result of sudden changes in interest rates. As at December 31, 2020, the Company had $0.7 million of fixed income securities (December 31, 2019 - $4.2 million). Foreign currency risk Foreign currency risk arises from foreign exchange rate movements that could negatively impact either the carrying value of financial assets and liabilities or the related cash flows when translating those balances into the Company's functional currency, Canadian dollars. The Company's primary foreign currency is the United States dollar ("USD"). The Company may employ certain hedging strategies to mitigate foreign currency risk. The Global Companies' assets are all denominated in USD with their translation impact being reported as part of other comprehensive income in the financial statements. Excluding the impact of the Global Companies, as at December 31, 2020, approximately $74.1 million (December 31, 2019 - $73.7 million) of total Canadian assets were invested in proprietary investments priced in USD. A total of $12.2 million (December 31, 2019 - $29.7 million) of cash, $8.1 million (December 31, 2019 -$5.7 million) of accounts receivable and $1.5 million (December 31, 2019 - $3.7 million) of other assets were denominated in USD. As at December 31, 2020, if the exchange rate between USD and the Canadian dollar increased or decreased by 5%, with all other variables held constant, the increase or decrease in net income would have been approximately $4.8 million for the year (December 31, 2019 - $5.7 million). Credit risk Credit risk is the risk that a borrower will not honour its commitments and a loss to the Company may result. Loans receivable The Company incurs credit risk primarily in the on-balance sheet loans of SRLC and through c o-investments made in the lending LPs managed by SRLC. In addition to the relative default probability of SRLC borrowers (both directly via on balance sheet loans and indirectly via borrowers in the lending LPs we co-invest with), credit risk is also dependent on loss given default, which can increase credit risk if the values of the underlying assets securing the Company's loans decline to levels approaching or below the loan amounts. A decrease in commodity prices may delay the development of the underlying security or business plans of the borrower and will adversely affect the value of the Company's security against a loan. Additionally, the value of the Company's underlying security in a loan can be negatively affected if the actual amount or quality of the commodity proves to be less than that originally estimated, or the ability to extract the commodity proves to be more difficult or more costly than originally estimated. During the loan origination process, management takes into account a number of factors and is committed to several processes to ensure that this risk is appropriately mitigated. These include: • emphasis on first priority and/or secured financings; • the investigation of the creditworthiness of borrowers; • the employment of qualified and experienced loan professionals; • a review of the sufficiency of the borrower’s business plans including plans that will enhance the value of the underlying security; • frequent and documented status updates provided on business plans; • engagement of qualified independent advisors (e.g. lawyers, engineers and geologists) to protect Company interests; • legal reviews that are performed to ensure that all due diligence requirements are met prior to funding. As at December 31, 2020 had no exposure to credit risk via on-balance sheet loans of SRLC (December 31, 2019 - $Nil). The Company will syndicate loans in certain circumstances if it wishes to reduce its exposure to a borrower or comply with loan exposure maximums. The Company reviews its policies regarding its lending limits on an ongoing basis. For precious metal loans, the Company performs the same due diligence procedures as it would for its resource loans and resource debentures. Collectability of loans Besides the above noted measures we take to manage credit risk, the Company will report on credit risk in the notes to the annual consolidated financial statements and records expected credit loss provisions to ensure that on-balance sheet loans are recorded at their estimated recoverable amount (i.e. net of impairment risk we believe to exist as at the balance sheet date and in accordance with IFRS). Actual losses incurred in the on-balance sheet loan portfolio could differ materially from our provisions. Management takes into account a number of factors and is committed to several processes to ensure that this risk is appropriately managed. Net investments The Company incurs credit risk when entering into, settling and financing various proprietary transactions. As at December 31, 2020 and 2019, the Company's most significant proprietary investments counterparty was National Bank Independent Network Inc. ("NBIN"), the carrying broker of SCP, which also acts as a custodian for most of the Company's proprietary investments. NBIN is registered as an investment dealer subject to regulation by IIROC; as a result, it is required to maintain minimum levels of regulatory capital at all times. Other The majority of accounts receivable relate to management, carried interest and performance fees receivable from the Funds, managed accounts and managed companies managed by the Company. Credit risk is managed in this regard by dealing with counterparties that the Company believes to be creditworthy and by actively monitoring credit exposure and the financial health of the counterparties. The Global Companies incur credit risk when entering into, settling and financing various proprietary transactions. As at December 31, 2020 and 2019, the Global Companies' most significant counterparty was RBC Capital Markets, LLC ("RBCCM"), the carrying broker of SGRIL and custodian of the net assets of the Funds managed by RCIC. RBCCM is registered as a broker-dealer and registered investment advisor subject to regulation by FINRA and the SEC; as a result, it is required to maintain minimal levels of regulatory capital at all times. Liquidity risk Liquidity risk is the risk that the Company cannot meet a demand for cash or fund its obligations as they come due. The Company's exposure to liquidity risk is minimal as it maintains sufficient levels of liquid assets to meet its obligations as they come due. Additionally, the Company has access to a $70 million committed line of credit with a major Canadian Schedule I bank. As part of its cash management program, the Company primarily invests in short-term debt securities issued by the Government of Canada with maturities of less than three months. As at December 31, 2020, the Company had $44.1 million or 12% (December 31, 2019 - $54.7 million or 17%) of its total assets in cash and cash equivalents. In addition, approximately $35.1 million or 38% (December 31, 2019 - $10.5 million or 14%) of proprietary investments held by the Company are readily marketable and are recorded at their fair value. The Company's exposure to liquidity risk as it relates to our co-investments in lending LPs arises from fluctuations in cash flows from making capital calls and receiving capital distributions. The Company manages its loan co-investment liquidity risk through the ongoing monitoring of scheduled capital calls and distributions ("match funding") and through its broader treasury risk management program and enterprise capital budgeting. As at December 31, 2020, the Company had $4.6 million in co-investment commitments from the Lending segment (December 31, 2019 - $6.6 million). Financial liabilities, including accounts payable and accrued liabilities and compensation and employee bonuses payable, are short-term in nature and are generally due within a year. The following are the remaining contractual maturities of financial liabilities as at December 31, 2020 (in thousands $): Contractual obligations Carrying Less 1-3 3-5 More Lease obligation 7,460 2,501 4,719 240 — Compensation payable 15,192 15,192 — — — Operating accounts payable 19,046 19,046 — — — Contingent consideration 20,575 10,000 10,575 — — Loan facility 16,994 — — 16,994 — 79,267 46,739 15,294 17,234 — The Company's management team is responsible for reviewing resources to ensure funds are readily available to meet its financial obligations as they come due, as well as ensuring adequate funds exist to support business strategies and operations growth. The Company manages liquidity risk by monitoring cash balances on a daily basis. To meet any liquidity shortfalls, actions taken by the Company could include: syndicating a portion of its loans; slowing its lending activities; drawing on the line of credit; liquidating proprietary investments and/or issuing common shares. Concentration risk The majority of the Company's AUM, as well as its proprietary investments and loans receivables are focused on the natural resource sector, and in particular, precious metals & mining. COVID-19 risk

Segmented information

Segmented information	12 Months Ended
	Dec. 31, 2020
Operating Segments [Abstract]
Segmented information	Segmented information For management purposes, the Company is organized into business units based on its products, services and geographical location and has five reportable segments as follows: • Exchange listed products (reportable), which provides management services to the Company's closed-end physical trusts and exchange traded funds ("ETFs"), both of which are actively traded on public securities exchanges; • Managed equities (reportable), which provides asset management and sub-advisory services to the Company's branded funds, fixed-term LPs and managed accounts; • Lending (reportable), which provides lending and streaming activities through limited partnership vehicles as well as through direct lending activities using the Company's balance sheet; • Brokerage (reportable), which includes the activities of our Canadian and U.S. broker-dealers; • Corporate (reportable), which provides capital, balance sheet management and enterprise shared services to the Company's subsidiaries; • All other segments (non-reportable), which do not meet the definition of reportable segments as per IFRS 8. Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on earnings before interest expense, income taxes, amortization and impairment of intangible assets and goodwill, gains and losses on proprietary investments (as if such gains and losses had not occurred), foreign exchange gains and losses, one time non-recurring expenses, non-cash and non-recurring stock-based compensation, carried interest and performance fees and carried interest and performance fee payouts (adjusted base EBITDA). Adjusted base EBITDA is not a measurement in accordance with IFRS and should not be considered as an alternative to net income or any other measure of performance under IFRS. Transfer pricing between operating segments is performed on an arm's length basis in a manner similar to transactions with third parties. The following tables present the operations of the Company's segments (in thousands $): For the year ended December 31, 2020 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 37,680 41,354 15,509 30,683 (7,214) 3,764 121,776 Total expenses 9,151 22,686 8,469 23,454 18,566 4,788 87,114 Income (loss) before income taxes 28,529 18,668 7,040 7,229 (25,780) (1,024) 34,662 Adjusted base EBITDA 30,563 10,762 7,272 8,052 (13,722) 1,239 44,166 For the year ended December 31, 2019 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 24,528 14,058 14,745 21,208 (2,604) 1,551 73,486 Total expenses 9,274 8,145 8,224 20,442 9,904 4,547 60,536 Income (loss) before income taxes 15,254 5,913 6,521 766 (12,508) (2,996) 12,950 Adjusted base EBITDA 17,988 3,167 10,725 3,342 (7,290) 1,071 29,003 For geographic reporting purposes, transactions are primarily recorded in the location that corresponds with the underlying subsidiary's country of domicile that generates the revenue. The following table presents the revenue of the Company by geographic location (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Canada 95,962 63,375 United States 25,814 10,111 121,776 73,486

Loan facility

Loan facility	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Loan facility	Loan facility As at December 31, 2020, the Company had $17 million (December 31, 2019 - $15.3 million) outstanding on its credit facility, all of which is due after 12 months (December 31, 2019 - $3.8 million due within 12 months and $11.5 million due after 12 months). On November 13, 2020, the Company extended and upsized its previous credit facility to $70 million, up from $61 million at the time of the extension. Amounts under the new facility may be borrowed under the facility through prime rate loans or bankers’ acceptances. Similar to the previous facility, amounts may also be borrowed in US dollars through base rate loans. As at December 31, 2020, the Company was in compliance with all covenants, terms and conditions under the credit facility. Key terms under the credit facility are noted below: Structure • 5-year, $70 million revolver with "bullet maturity" December 14, 2025 Interest Rate • Prime rate + 0 bps or; • Banker acceptance rate + 170 bps Covenant Terms • Minimum AUM: 70% of AUM on November 13, 2020 • Debt to EBITDA less than or equal to 2.5:1

Commitments and provisions

Commitments and provisions	12 Months Ended
	Dec. 31, 2020
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Commitments and provisions	Commitments and provisionsBesides the Company's long-term lease agreement, there are commitments to make investments in the net investments portfolio of the Company. As at December 31, 2020, the Company had $4.6 million in co-investment commitments from the lending segment, all due within one year (December 31, 2019 - $6.6 million).

Subsequent events

Subsequent events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent events	Subsequent eventsSubsequent to year-end, the Company successfully negotiated an amendment to the original terms of the purchase agreement. In lieu of any contingent consideration entitlement for the 2020 and 2021 fiscal years, the vendor accepted a final payment from the Company of $30 million ($27 million in cash and $3 million in Sprott Inc. common shares). This enabled the Company to lock-in the total acquisition price and return on investment economics going into 2021 and further enabled the Company to retain the full benefits of any additional increase in AUM expected over 2021. As a result of this change, the Company revised the contingent consideration in the first quarter of 2021 and incurred an expense of $4.4 million. This one-time charge on revision of contingent consideration will be included as part of the Other expenses line on the consolidated statements of operations and comprehensive income.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Corporate Information and Statement of IFRS Compliance [Abstract]
Basis of presentation	Basis of presentation These financial statements have been prepared on a going concern basis and on a historical cost basis, except for financial assets and financial liabilities classified as fair value through profit or loss ("FVTPL") or fair value through other comprehensive income ("FVOCI"), both of which have been measured at fair value. The financial statements are presented in US dollars and all values are rounded to the nearest thousand ($000), except when indicated otherwise.
Principles of consolidation	Principles of consolidation These financial statements of the Company are prepared on a consolidated basis so as to include the accounts of all limited partnerships and corporations the Company is deemed to control under IFRS. Controlled limited partnerships and corporations ("subsidiaries") are consolidated from the date the Company obtains control. All intercompany balances with subsidiaries are eliminated upon consolidation. Subsidiary financial statements are prepared over the same reporting period as the Company and are based on accounting policies consistent with that of the Company. During the year, the Company commenced consolidation of certain feeder funds due to them becoming material. The Company records third-party interests in the funds which do not qualify to be equity due to redeemable or limited life features, as non-controlling interest liabilities. Such interests are initially recognized at fair value, with any changes recorded as Other expense. Control exists if the Company has power over the entity, exposure or rights to variable returns from its involvement with the entity and the ability to use its power over the entity to affect the amount of returns the Company receives. In many, but not all instances, control will exist when the Company owns more than one half of the voting rights of a corporation, or is the sole limited and general partner of a limited partnership. The Company currently controls the following principal subsidiaries: • Sprott Asset Management LP ("SAM"); • Sprott Capital Partners LP ("SCP"); • Sprott Asia LP ("Sprott Asia") and Sprott Korea Corporation ("Sprott Korea"); • Sprott U.S. Holdings Inc. ("SUSHI"), parent of: (1) Rule Investments Inc. ("RII"); (2) Sprott Global Resource Investments Ltd. ("SGRIL"); (3) Sprott Asset Management USA Inc. ("SAM US"); and (4) Resource Capital Investment Corporation ("RCIC"). Collectively, the interests of SUSHI are referred to as "Global" in these financial statements; • Sprott Resource Lending Corp. ("SRLC"); and • Sprott Inc. 2011 Employee Profit Sharing Plan Trust (the "Trust").
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consist of cash on deposit with banks and with carrying brokers, which are not subject to restrictions, and short-term interest bearing notes and treasury bills with a term to maturity of less than three months from the date of purchase.
Investments and Co-investments	Investments Investments classified as short-term, including equity kickers received as consideration for mining finance transactions occurring primarily in our lending and brokerage segments, are held with the primary intention of short-term liquidity and capital management. Investments classified as long-term are primarily joint-venture interests or equity stakes in companies held for strategic purposes. Co-investments Co-investments are investments we make alongside clients of our various fund strategies to demonstrate the commitment and confidence we have in investment strategies we promote and operate.
Financial instruments	Financial instruments Classification and measurement of financial assets Financial assets are measured at initial recognition at fair value, and are classified and subsequently measured at FVTPL, amortized cost or FVOCI. Financial assets are measured at amortized cost if the contractual terms of the instrument give rise to cash flows that are solely payments of principal and interest on the principal amount outstanding and it is held within a business model whose objective is to hold assets to collect contractual cash flows. Financial assets are measured at FVOCI if the contractual terms of the instrument give rise to cash flows that are solely for payments of principal and interest on the principal amount outstanding and it is held within a business model whose objective is to hold assets to collect contractual cash flow and to sell financial assets. For equity instruments that are not held for trading, the Company may also elect to irrevocably elect, on an investment by investment basis, to present changes in the fair value of an investment through OCI. All financial assets that are not measured at amortized cost or FVOCI are measured at FVTPL. This includes all derivative financial assets the Company may hold. Valuation of investments Investments include public equities, share purchase warrants, fixed income securities, mutual fund, private companies and alternative investment strategies, while co-investments are investments held in the funds managed by the Company. Public equities, share purchase warrants and fixed income securities are measured at fair value and are accounted for on a trade-date basis. Mutual fund and alternative investment strategy investments which are valued using the net asset value per unit of the fund, which represents the underlying net assets at fair values determined using closing market prices. These investments are generally made in the process of launching a new fund and are redeemed (if open-end) or sold (if closed-end) as third party investors subscribe. The balance represents the Company's maximum exposure to loss associated with the investments. Private holdings include private company investments which are classified as FVTPL and carried at fair value based on the value of the Company's interests in the private companies determined from financial information provided by management of the private companies, which may include operating results, subsequent rounds of financing and other appropriate information. Any change in fair value is recognized in gains (loss) on investments on the consolidated statements of operations and comprehensive income. Fair value hierarchy All financial instruments recognized at fair value in the consolidated balance sheets are classified into three fair value hierarchy levels as follows: • Level 1: valuation based on quoted prices (unadjusted) observed in active markets for identical assets or liabilities; • Level 2: valuation techniques based on inputs that are quoted prices of similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; inputs other than quoted prices used in a valuation model that are observable for that instrument; and inputs that are derived from or corroborated by observable market data by correlation or other means; and • Level 3: valuation techniques with significant unobservable market inputs. The Company will transfer financial instruments into or out of levels in the fair value hierarchy to the extent the instrument no longer satisfies the criteria for inclusion in the category in question. Level 3 valuations are prepared by the Company and reviewed and approved by management at each reporting date. Valuation results, including the appropriateness of model inputs, are compared to actual market transactions to the extent readily available. Valuations of level 3 assets are also discussed with the Audit and Risk Management Committee as deemed necessary by the Company. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount reported on the consolidated balance sheets if, and only if, there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. Impairment of financial assets Expected credit losses are a probability-weighted estimate of future credit losses. Credit losses are measured as the present value of the difference between the cash flows due to the Company in accordance with the contract and the cash flows the Company expects to receive. Loans receivable Loans receivable are financial assets with fixed or determinable payments that are held solely for payments of principal and interest on the principal amount outstanding and are held within a business model whose objective is to hold assets to collect contractual cash flows. Loans receivable are measured at amortized cost. Fees received for originating loans are considered an integral part of the yield earned on the loan and are recognized in finance income over the term of the loan using the effective interest method. Fees received may include cash payments and/or securities in the borrower. At each reporting date, management assesses the probability of default and the loss given default using economic and market trends, quoted credit rating of the borrower, market value of the asset, and appraisals, if any, of the security underlying the loan. The impairment is then classified into three stages: • Stage 1 - For loans where credit risk has not increased significantly, an impairment is recognized equal to the credit losses expected to result from defaults occurring over the following twelve months. • Stage 2 - For loans where credit risk has increased significantly, an impairment is recognized equal to the credit losses expected to result from defaults occurring over the life of the loan. • Stage 3 - For loans which are credit impaired, a loss allowance is recognized equal to the expected credit losses over the expected lifetime of the Loan. Any subsequent recognition of finance income for which an expected credit loss provision exists, is calculated at the discount rate used in determining the provision, which may differ from the contractual rate of interest.
Recognition of income and related expenses	Recognition of income and related expenses The Company receives variable consideration in the form of management fees, which are allocated to distinct time periods in which the management services are being provided. Management fees are recognized when they are no longer susceptible to market factors and no longer subject to a significant reversal in revenue. The Company may also earn variable consideration in the form of carried interest and performance fees. These fees are recognized when they are no longer susceptible to market factors or subject to significant reversal in revenue, which is determined subject to agreements in the underlying funds. Commission income is recognized when the related services are rendered and no longer subject to a significant reversal in revenue. Finance income, which includes interest income and co-investment income, is recognized on an accrual basis using the effective interest method. Under the effective interest method, the interest rate realized is not necessarily the same as the stated rate in the loan or debenture documents. The effective interest rate is the rate required to discount the future value of all loan or debenture cash flows to their present value and is adjusted for the receipt of cash and non-cash items in connection with the loan. Costs related to obtaining a contract with clients ("placement fees") are amortized on a systematic basis related to the transfer of services to those clients.
Property and equipment	Property and equipment Property and equipment are recorded at cost and are amortized on a declining balance basis over the expected useful life which ranges from 1 to 5 years. Leasehold improvements are amortized on a straight-line basis over the term of the lease. Artwork is not amortized since it does not have a determinable useful life. The residual values, useful life and methods of amortization for property and equipment are reviewed at each reporting date and adjusted prospectively, if necessary. Any loss resulting from impairment of property and equipment is expensed in the period the impairment is identified.
Intangible assets	Intangible assets The useful life of an intangible asset is either finite or indefinite. Intangible assets other than goodwill are recognized when they are separable or arise from contractual or other legal rights, and have fair values that can be reliably measured. Intangible assets that are purchased are measured at the acquisition date and include the fair value of considerations transfered, and include an estimate for contingent consideration where applicable. Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. Intangible assets with finite lives are only tested for impairment if indicators of impairment exist at the time of an impairment assessment. The amortization period and the amortization method for an intangible asset with a finite useful life is reviewed at each reporting date. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense and any impairment losses on intangible assets with finite lives are recognized in the consolidated statements of operations. Intangible assets with indefinite useful lives are not amortized, but are assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. In addition to impairment indicator assessments, indefinite life intangibles must be tested annually for impairment. The indefinite life of an intangible asset is reviewed annually to determine whether the indefinite life continues to be supportable. If no longer supportable, changes in useful life from indefinite to finite are made prospectively. Any loss resulting from impairment of intangible assets is expensed in the period the impairment is identified. Any gain resulting from an impairment reversal of intangible assets is recognized in the period the impairment reversal is identified but cannot exceed the carrying amount that would have been determined (net of amortization and impairment) had no impairment loss been recognized for the intangible asset in prior periods.
Business combinations and goodwill	Business combinations and goodwill The purchase price of an acquisition accounted for under the acquisition method is allocated based on the fair values of the net identifiable assets acquired. The excess of the purchase price over the fair values of such identifiable net assets is recorded as goodwill. Goodwill, which is measured at cost less any accumulated impairment losses, is not amortized, but rather, is assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. In addition to quarterly impairment indicator assessments, goodwill must be tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to each of the Company's cash generating units ("CGUs") that are expected to benefit from the acquisition. The recoverable amount of a CGU is compared to its carrying value plus any goodwill allocated to the CGU. If the recoverable amount of a CGU is less than its carrying value plus allocated goodwill, an impairment charge is recognized, first against the carrying value of the goodwill, with any remaining difference being applied against the carrying value of assets contained in the impacted CGUs. Impairment losses on goodwill are recorded in the consolidated statements of operations and comprehensive income and cannot be subsequently reversed.
Income taxes	Income taxes Income tax is comprised of current and deferred tax. Income tax is recognized in the consolidated statements of operations and comprehensive income except to the extent that it relates to items recognized directly in other comprehensive income or elsewhere in equity, in which case, the related taxes are also recognized in other comprehensive income (loss) or elsewhere in equity. Deferred taxes are recognized using the liability method for temporary differences that exist between the carrying amounts of assets and liabilities in the consolidated balance sheet and the amounts attributed to such assets and liabilities for tax purposes. Deferred tax assets and liabilities are determined based on the enacted or substantively enacted tax rates that are expected to apply when the differences related to the assets or liabilities reported for tax purposes are expected to reverse in the future. Deferred tax assets are recognized only when it is probable that sufficient taxable profits will be available or taxable temporary differences reversing in future periods against which deductible temporary differences may be utilized. Deferred taxes liabilities are not recognized on the following temporary differences: • Temporary differences on the initial recognition of assets and liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit or loss; • Taxable temporary differences related to investments in subsidiaries, associates or joint ventures or joint operations to the extent they are controlled by the Company and they will not reverse in the foreseeable future; • Taxable temporary differences arising on the initial recognition of goodwill. The Company records a provision for uncertain tax positions if it is probable that the Company will have to make a payment to tax authorities upon their examination of a tax position. This provision is measured at the Company's best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or determined by statute. The measurement of tax assets and liabilities requires an assessment of the potential tax consequences of items that can only be resolved through agreement with the tax authorities. While the ultimate outcome of such tax audits and discussions cannot be determined with certainty, management estimates the level of provisions required for both current and deferred taxes.
Share-based payments	Share-based payments The Company uses the fair value method to account for equity settled share-based payments with employees and directors. Compensation expense is determined using the Black‑Scholes option valuation model for stock options. Compensation expense for the share incentive program is determined based on the fair value of the benefit conferred on the employee. Compensation expense for deferr ed stock units ("DSU") is determined based on the value of the Company's common shares at the time of grant. Compensation expense for earn-out shares is determined using appropriate valuation models. Compensation expense related to the Company's Employee Profit Sharing Plan is determined based on the value of the Company's common shares purchased by the Trust as of the grant date. Compensation expense is recognized over the vesting period wit h a corresponding increase to contributed surplus other than for the Company's DSUs where the corresponding increase is to liabilities. Stock options and common shares held by the Trust vest in installments which require a graded vesting methodology to account for these share-based awards. On the exercise of stock options for shares, the contributed surplus previously recorded with respect to the exercised options and the consideration paid is credited to capital stock. On the issuance of the earn-out shares, the contributed surplus previously recorded with respect to the issued earn-out shares is credited to capital stock. On the vesting of common shares in the Trust, the contributed surplus previously recorded is credited to capital stock. On the exercise of DSUs, the liability previously recorded is credited to cash.
Earnings per share	Earnings per share Basic and diluted earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the period. The Company applies the treasury stock method to determine the dilutive impact, if any, of stock options and unvested shares purchased for the Trust. The treasury stock method determines the number of incremental common shares by assuming that the number of dilutive securities the Company has granted to employees have been issued.
Lease commitments	Lease commitments The Company recognizes a right-to-use asset and a lease liability as at the lease commencement date. The right-to-use asset is initially measured at cost and subsequently at cost less any accumulated depreciation and impairment. The lease liability is initially measured at the present value of future lease payments over the anticipated lease term, discounted using the Company's incremental borrowing rate. The right-to-use asset is presented in the property and equipment line of the consolidated balance sheet and the short and long-term portions of the lease liability are presented in the accounts payable and accrued liabilities line and other accrued liabilities line, respectively, of the consolidated balance sheet. The Company used the practical expedient when applying IFRS 16 , Leases for short-term leases under 12 months and low-value assets such as IT equipment, with lease payments being expensed as they are occurred.
Segment reporting	Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to management. Management is responsible for allocating resources and assessing performance of the operating segments to make strategic decisions.
Significant accounting judgements and estimates	Significant accounting judgments and estimates The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are described below. The Company based its assumptions and estimates on parameters available when these financial statements were prepared. Existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Company. Such changes are reflected in the assumptions and estimates as they occur. Fair value of financial instruments When the fair value of financial assets and financial liabilities recorded in the consolidated balance sheets cannot be derived from active markets, they are determined using valuation techniques and models. Model inputs are taken from observable markets where possible, but where this is not feasible, unobservable inputs may be used. These unobservable inputs include, but are not limited to, projected cash flows, discount rates, comparable recent transactions, volatility of underlying securities in warrant valuations and extraction recovery rates of mining projects. The use of unobservable inputs can involve significant judgment and materially affect the reported fair value of financial instruments. Deferred tax assets Deferred tax assets are recognized for unused tax losses to the extent it is probable that sufficient taxable profit will be generated in order to utilize the losses. In addition, taxable income is subject to estimation as a portion of performance fee revenue is an allocation of partnership income. Such allocations involve a certain degree of estimation and income tax estimates could change as a result of: (1) changes in tax laws and regulations, both domestic and foreign; (2) an amendment to the calculation of partnership income allocation; or (3) a change in foreign affiliate rules. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized based on the likely timing and the level of future taxable profits together with future tax planning strategies. Investments in other entities IFRS 10 Consolidated Financial Statements ("IFRS 10") and IAS 28 Investments in Associates and Joint Ventures ("IAS 28") provide for the use of judgment in determining whether an investee should be included within the consolidated financial statements of the Company and on what basis (subsidiary, joint venture or associate). Significant judgment is applied in evaluating facts and circumstances relevant to the Company and investee, including: (1) the extent of the Company's direct and indirect interests in the investee; (2) the level of compensation to be received from the investee for management and other services provided to it; (3) "kick out rights" available to other investors in the investee; and (4) other indicators of the extent of power that the Company has over the investee. Impairment of goodwill and intangible assets All indefinite life intangible assets and goodwill are assessed for impairment, however, finite life intangibles are only tested for impairment to the extent indications of impairment exist at time of a quarterly assessment. In the case of goodwill and indefinite life intangibles, an annual test for impairment augments the quarterly impairment indicator assessments. Values associated with goodwill and intangibles involve estimates and assumptions, including those with respect to future cash inflows and outflows, discount rates and asset lives. These estimates require significant judgment regarding market growth rates, fund flow assumptions, expected margins and costs which could affect the Company's future results if estimates of future performance and fair value change. Contingent consideration The Acquisition necessitated the recognition of contingent consideration for the amounts payable in cash and shares under the terms of the purchase agreement. The cash settled portion of the contingent consideration was measured at the closing date fair value, based on management’s estimate of the level of future revenue obtained from the contracts over the contingent consideration measurement period. The equity settled portion of the contingent consideration was measured at its grant date fair value in accordance with the requirements of IFRS 2 Share-based Payment . The key judgments utilized in the estimation of the contingent consideration were fund flow assumptions. As at December 31, 2020, the contingent consideration payable was updated to refle ct current estimates with the resulting adjustment recorded in Other expense.
Foreign currency translation	Foreign currency translation Accounts in the financial statements of the Company's subsidiaries are measured using their functional currency, being the currency of the primary economic environment in which the entity operates. The Company's performance is evaluated and its liquidity is managed in Canadian dollars. Therefore, the Canadian dollar is the functional currency of the Company. The Canadian dollar is also the functional currency of all its subsidiaries, with the exception of Global Companies, which uses the U.S. dollar as its functional currency. Accordingly, the assets and liabilities of Global Companies are translated into Canadian dollars using the rate in effect on the date of the consolidated balance sheets. Revenue and expenses are translated at the average rate over the reporting period. Foreign currency translation gains and losses arising from the Company's translation
Changes in accounting policies	Changes in accounting policies Change in presentation currency Effective January 1, 2020, the Company changed its presentation currency from Canadian to US dollars to better reflect the Company's business activities, given the significance of our revenues denominated in US dollars that further increased in 2020 with the January 17, 2020 close of Tocqueville Asset Management's gold strategies ("the Acquisition"). The Company followed the guidance of IAS 21 Effects of Changes in Foreign Exchange Rates ("IAS 21") and have applied the change retroactively. As a result, the Company has restated prior year comparatives, including the January 1 opening balance sheet as required by IFRS 1 First-Time Adoption of International Financial Reporting Standards ("IFRS 1"). The change in presentation currency had the following effect: • Assets and liabilities have been translated at the exchange rate on the respective reporting dates; • Equity transactions have been translated at the historical exchange rate at the date of the transaction; • The statements of operations and comprehensive income have been translated at the average exchange rate on the respective reporting dates; and • Exchange differences arising on translation are presented in the accumulated other comprehensive loss line in shareholders' equity on the balance sheets.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Corporate Information and Statement of IFRS Compliance [Abstract]
Exchange rates used for prior periods	The exchange rates used for prior periods were as follows: Dec. 31, 2019 Sep. 30, 2019 Jun. 30, 2019 Mar. 31, 2019 Jan. 1, As at reporting date 1.31 1.32 1.31 1.34 1.36 Average rate for the 3 month ended 1.32 1.32 1.34 1.33 1.32

Short-term investments (Tables)

Short-term investments (Tables)	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Short-term investments	Primarily consist of equity investments in public and private entities we receive as consideration during lending, managed equities and brokerage segment activities (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Public equities and share purchase warrants FVTPL 6,751 10,520 Fixed income securities FVTPL 731 4,220 Private holdings: - Private investments FVTPL 1,993 1,864 - Energy contracts Non-financial instrument — 891 Total short-term investments 9,475 17,495

Co-investments (Tables)

Co-investments (Tables)	12 Months Ended
	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Co-investments	Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2020 Dec. 31, 2019 Co-investments in funds FVTPL 82,467 55,595 Total co-investments 82,467 55,595

Other assets, income, expense_2

Other assets, income, expenses and non-controlling interest (Tables)	12 Months Ended
	Dec. 31, 2020
Interest in Other Entities [Abstract]
Components of other assets	Consist of the following (in thousands $): Dec. 31, 2020 Dec. 31, 2019 Digital gold strategies (1) 11,518 18,913 Fund recoveries and investment receivables 6,043 5,951 Assets attributable to non-controlling interests 3,518 — Prepaid expenses 2,316 4,355 Other (2) 1,919 2,231 Deferred costs related to the Acquisition (3) — 1,806 Total other assets 25,314 33,256 (1) Digital gold strategies are financial instruments classified at FVTPL. Gains and losses are included in gain (loss) on investments on the consolidated statements of operations. These investments were reclassified from long-term investments to other assets. (2) I ncludes miscellaneous third-party receivables. (3) Includes legal, proxy and investor relations costs.
Components of other income	Other income Consist of the following (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Investment income (1) 1,502 625 Income attributable to non-controlling interest 759 — Total other income 2,261 625 (1) Primarily includes miscellaneous investment fund income, syndication and trailer fee income.
Components of other expenses	Other expenses Consist of the following (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Costs related to energy assets 798 577 Foreign exchange losses 772 1,503 Increase in contingent consideration related to the Acquisition 4,717 — Other (1) 4,207 3,959 Total other expenses 10,494 6,039 (1) Includes net income attributable to non-controlling interest of $565 thousand and SG&A attributable to non-controlling interest of $194 thousand for the year ended December 31, 2020 (year ended December 31, 2019 - $Nil) as well as non-recurring professional fees and transaction costs.
Components of non-controlling interests	Non-controlling interest consist of third-party interest in our consolidated co-investments in funds. The following table provide a summary of amounts attributable to this non-controlling interest: Dec. 31, 2020 Dec. 31, 2019 Assets 3,518 — Liabilities - current (1) (640) — Liabilities - long-term (1) (2,878) — (1) Current and long-term Liabilities attributable to non-controlling interest is included in accounts payable and accrued liabilities and other accrued liabilities respectively

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, plant and equipment [abstract]
Components of property and equipment	Consist of the following (in thousands $): Artwork Furniture and fixtures Computer hardware and software Leasehold improvements Right of use assets Total Cost At Dec. 31, 2018 7,040 2,321 2,613 3,077 — 15,051 Additions — 107 — 2,117 7,182 9,406 Net exchange differences 312 99 93 138 302 944 At Dec. 31, 2019 7,352 2,527 2,706 5,332 7,484 25,401 Additions — 279 153 254 2,435 3,121 Net exchange differences 167 70 71 135 322 765 At Dec. 31, 2020 7,519 2,876 2,930 5,721 10,241 29,287 Accumulated amortization At Dec. 31, 2018 — (2,288) (2,099) (1,621) — (6,008) Depreciation charge for the year — (43) (324) (926) (1,623) (2,916) Net exchange differences — (71) (87) (70) (19) (247) At Dec. 31, 2019 — (2,402) (2,510) (2,617) (1,642) (9,171) Depreciation charge for the year — (68) (205) (970) (1,940) (3,183) Net exchange differences — (26) (59) (133) (104) (322) At Dec. 31, 2020 — (2,496) (2,774) (3,720) (3,686) (12,676) Net book value at: Dec. 31, 2019 7,352 125 196 2,715 5,842 16,230 Dec. 31, 2020 7,519 380 156 2,001 6,555 16,611

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2020
Intangible Assets [Abstract]
Disclosure of reconciliation of changes in intangible assets and goodwill	Consist of the following (in thousands $): Goodwill Fund Fund Total Cost At Dec. 31, 2018 132,251 97,744 34,768 264,763 Additions — 1,376 — 1,376 Net exchange differences — 4,350 1,540 5,890 At Dec. 31, 2019 132,251 103,470 36,308 272,029 Additions — 36,107 — 36,107 Net exchange differences — 6,454 198 6,652 At Dec 31, 2020 132,251 146,031 36,506 314,788 Accumulated amortization At Dec. 31, 2018 (113,102) — (23,753) (136,855) Amortization charge for the year — — (879) (879) Net exchange differences — — (1,068) (1,068) At Dec. 31, 2019 (113,102) — (25,700) (138,802) Amortization charge for the year — — (869) (869) At Dec 31, 2020 (113,102) — (26,569) (139,671) Net book value at: Dec. 31, 2019 19,149 103,470 10,608 133,227 Dec. 31, 2020 19,149 146,031 9,937 175,117

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2020
Share Capital, Reserves and Other Equity Interests [Abstract]
Components of authorized and issued share capital	The authorized and issued share capital of the Company consists of an unlimited number of common shares, without par value. Number Stated value At Dec. 31, 2018 24,306,233 407,775 Issuance of share capital under dividend reinvestment program 6,151 147 Shares acquired and cancelled under normal course issuer bid (74,060) (1,715) Issuance of share capital on conversion of RSUs 81,528 1,654 Shares acquired for equity incentive plan (182,612) (4,906) Shares released on vesting of equity incentive plan 280,399 4,945 At Dec. 31, 2019 24,417,639 407,900 Shares acquired for equity incentive plan (128,304) (2,514) Issuance of share capital on purchase of management contracts 104,720 2,500 Shares released on vesting of equity incentive plan 248,883 4,361 Issuance of share capital on exercise of stock options 150,000 5,159 Shares acquired and canceled under normal course issuer bid (112,343) (2,024) Issuance of share capital on conversion of RSUs and other share based considerations 103,269 2,231 Issuance of share capital under dividend reinvestment program 5,501 145 At Dec. 31, 2020 24,789,365 417,758 Contributed surplus consists of: stock option expense; earn-out shares expense; equity incentive plans' expense; and additional purchase consideration. Stated value At Dec. 31, 2018 42,964 Stock-based compensation 5,392 Issuance of share capital on conversion of RSUs (251) Released on vesting of common shares for equity incentive plan (4,945) At Dec. 31, 2019 43,160 Share-based contingent consideration related to the Acquisition 4,879 Shares released on vesting of common shares for equity incentive plan (4,361) Shares released on exercise of stock options (2,655) Stock-based compensation 4,517 Issuance of share capital on conversion of RSUs and other share based considerations (2,231) At Dec. 31, 2020 43,309
Summary of changes in Stock option plan	A summary of the changes in the Plan is as follows: Number of options Weighted average exercise price (CAD $) Options outstanding, Dec. 31, 2018 327,500 25.70 Options exercisable, Dec. 31, 2018 187,500 27.00 Options outstanding, Dec. 31, 2019 327,500 25.70 Options exercisable, Dec. 31, 2019 257,500 26.00 Options exercised during the year ended 2020 (150,000) 23.30 Options expired during the year ended 2020 (15,000) 66.00 Options outstanding, Dec. 31, 2020 162,500 23.61 Options exercisable, Dec. 31, 2020 162,500 23.61
Schedule of outstanding and exercisable options	Options outstanding and exercisable as at December 31, 2020 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 5.1 150,000 27.30 12,500 5.4 12,500 23.30 to 27.30 162,500 5.1 162,500
Schedule of outstanding and exercisable options	Options outstanding and exercisable as at December 31, 2020 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 5.1 150,000 27.30 12,500 5.4 12,500 23.30 to 27.30 162,500 5.1 162,500
Schedule of outstanding common shares under Equity incentive plan	Number of Common shares held by the Trust, Dec. 31, 2018 993,225 Acquired 182,612 Released on vesting (280,399) Unvested common shares held by the Trust, Dec. 31, 2019 895,438 Acquired 128,304 Released on vesting (248,883) Unvested common shares held by the Trust, Dec. 31, 2020 774,859
Breakdown of share-based compensation expense and corresponding increase to contributed surplus	Of the $57.6 million compensation expense for the year ended December 31, 2020, $4.5 million relates to stock-based compensation, details of which are presented in the table below (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Stock option plan 10 188 EIP 4,507 5,204 Total stock-based compensation 4,517 5,392
Calculation of basic and diluted earnings per common share	The following table presents the calculation of basic and diluted earnings per common share: For the years ended Dec. 31, 2020 Dec. 31, 2019 Numerator (in thousands $): Net income - basic and diluted 26,978 10,209 Denominator (Number of shares in thousands): Weighted average number of common shares 25,464 25,356 Weighted average number of unvested shares purchased by the Trust (976) (969) Weighted average number of common shares - basic 24,488 24,387 Weighted average number of dilutive stock options 163 312 Weighted average number of unvested shares under EIP 1,132 969 Weighted average number of common shares - diluted 25,783 25,668 Net income per common share Basic 1.10 0.42 Diluted 1.05 0.40

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Taxes [Abstract]
Disclosure Of Major Components Of Income Tax Expense	The major components of income tax expense are as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Current income tax expense (recovery) Based on taxable income of the current period 2,901 2,395 Adjustments in respect to previous years 102 115 Total current income tax expense 3,003 2,510 Deferred income tax expense (recovery) Origination and reversal of temporary differences 5,373 231 Adjustments in respect to previous years (692) — Total deferred income tax expense 4,681 231 Income tax expense reported in the consolidated statements of operations 7,684 2,741
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates And Average Effective Tax Rate	Taxes calculated on the Company's earnings differs from the theoretical amount that would arise using the weighted average tax rate applicable to earnings of the Company as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Income before income taxes 34,662 12,950 Tax calculated at domestic tax rates applicable to profits in the respective countries 9,324 3,432 Tax effects of: Non-deductible stock-based compensation 356 107 Non-taxable capital (gains) and losses 841 (47) Intangibles (458) 87 Adjustments in respect of previous periods (590) 115 Non-capital losses and other temporary differences not benefited previously (1,563) (1,405) Rate differences and other (226) 452 Tax charge 7,684 2,741 The weighted average statutory tax rate was 26.9% (December 31, 2019 - 26.5%). The Company has $8 million of capital tax losses from prior years that will begin to expire in 2022. The benefit of these capital losses has not been recognized.
Movement in Significant Components of Company's Deferred Income Tax Assets and Liabilities	The movement in significant components of the Company's deferred income tax assets and liabilities is as follows (in thousands $): For the year ended December 31, 2020 Dec. 31, 2019 Recognized in income Exchange rate differences Dec. 31, 2020 Deferred income tax assets Stock-based compensation 4,117 (368) 72 3,821 Non-capital and capital losses 3,432 (1,195) 33 2,270 Other 247 230 (42) 435 Total deferred income tax assets 7,796 (1,333) 63 6,526 Deferred income tax liabilities Fund management contracts 6,809 2,360 277 9,446 Unrealized gains (losses) (910) 997 31 118 Other 40 (9) (47) (16) Total deferred income tax liabilities 5,939 3,348 261 9,548 Net deferred income tax assets (liabilities) (1) 1,857 (4,681) (198) (3,022) For the year ended December 31, 2019 (2) Dec. 31, 2018 Recognized in income Exchange rate differences Dec. 31, 2019 Deferred income tax assets Stock-based compensation 3,349 606 162 4,117 Non-capital losses 3,678 (372) 126 3,432 Unrealized losses 283 604 23 910 Other 376 (143) 14 247 Total deferred income tax assets 7,686 695 325 8,706 Deferred income tax liabilities Fund management contracts 5,141 1,404 264 6,809 Other 514 (478) 4 40 Total deferred income tax liabilities 5,655 926 268 6,849 Net deferred income tax assets (1) 2,031 (231) 57 1,857 (1) Deferred tax assets of $1.7 million (December 31, 2019 - $4.3 million) and deferred tax liabilities of $4.8 million (December 31, 2019 - $2.4 million) are presented on the balance sheet net by legal jurisdiction. (2) Certain comparative figures have been reclassified to conform with current year presentation

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Measurement [Abstract]
Disclosure of Company's recurring fair value measurements within fair value hierarchy and Summary of changes in fair value of Level 3 financial assets	The following tables present the Company's recurring fair value measurements within the fair value hierarchy. The Company did not have non-recurring fair value measurements as at December 31, 2020 and December 31, 2019 (in thousands $). Short-term investments Dec. 31, 2020 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 5,101 1,379 271 6,751 Fixed income securities — 731 — 731 Private holdings — — 1,993 1,993 Total net recurring fair value measurements 5,101 2,110 2,264 9,475 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 7,537 2,983 — 10,520 Fixed income securities — 3,454 766 4,220 Private holdings — — 1,864 1,864 Total net recurring fair value measurements 7,537 6,437 2,630 16,604 Co-investments Dec. 31, 2020 Level 1 Level 2 Level 3 Total Co-investments in funds — 76,026 6,441 82,467 Total net recurring fair value measurements — 76,026 6,441 82,467 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Co-investments in funds — 51,065 4,530 55,595 Total net recurring fair value measurements — 51,065 4,530 55,595 Other assets Dec. 31, 2020 Level 1 Level 2 Level 3 Total Digital gold strategies — — 11,518 11,518 Total net recurring fair value measurements — — 11,518 11,518 Dec. 31, 2019 Level 1 Level 2 Level 3 Total Digital gold strategies — — 18,913 18,913 Total net recurring fair value measurements — — 18,913 18,913 The following tables provides a summary of changes in the fair value of Level 3 financial assets (in thousands $): Short-term investments Changes in the fair value of Level 3 measurements - Dec. 31 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Share purchase warrants — 271 — — 271 Private holdings 1,864 — (15) 144 1,993 Fixed income securities 766 (783) — 17 — 2,630 (512) (15) 161 2,264 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Private holdings 2,075 34 (43) (202) 1,864 Fixed income securities 733 — — 33 766 2,808 34 (43) (169) 2,630 Co-investments Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Co-investments in funds 4,530 1,628 — 283 6,441 4,530 1,628 — 283 6,441 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Co-investments in funds 3,574 1,193 — (237) 4,530 3,574 1,193 — (237) 4,530 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2020 Digital gold strategies 18,913 500 — (7,895) 11,518 18,913 500 — (7,895) 11,518 Changes in the fair value of Level 3 measurements - Dec. 31, 2019 Dec. 31, 2018 Purchases and reclassifications Settlements Net unrealized gains (losses) included in net income Dec. 31, 2019 Digital gold strategies 18,285 2,574 — (1,946) 18,913 18,285 2,574 — (1,946) 18,913
Description of valuation techniques used in Company's fair value measurements	The following table presents the valuation techniques used by the Company in measuring fair values: Type Valuation technique Public equities and share purchase warrants Fair values are determined using pricing models which incorporate all available market-observable inputs. Alternative funds and private equity funds Fair values are based on the last available net asset value. Fixed income securities Fair values are based on independent market data providers or third-party broker quotes. Private holdings (including digital gold strategies) Fair values based on variety of valuation techniques, including discounted cash flows, comparable recent transactions and other techniques used by market participants.

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party [Abstract]
Disclosure of transactions between related parties	The remuneration of directors and other key management personnel of the Company for employment services rendered are as follows (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Fixed salaries and benefits 3,247 2,155 Variable incentive-based compensation 8,715 3,405 Share-based compensation 1,817 1,678 13,779 7,238

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2020
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends Declared	The following dividends were declared by the Company during the twelve months ended December 31, 2020: Record date Payment Date Cash dividend per share (1) Total dividend amount (in thousands $) March 9, 2020 - Regular dividend Q4 2019 March 24, 2020 CAD$0.30 5,387 May 19, 2020 - Regular dividend Q1 2020 June 3, 2020 CAD$0.30 5,560 August 17, 2020 - Regular dividend Q2 2020 September 1, 2020 US$0.23 5,915 November 23, 2020 - Regular dividend Q3 2020 December 8, 2020 US$0.25 6,378 Dividends (2) 23,240 (1) Dividends per share for periods before May 28 reflect retrospective treatment of the 10:1 share consolidation. (2) Subsequent to year end, on February 25, 2021, a regular dividend of US$0.25 per common share was declared for the quarter ended December 31, 2020. This dividend is payable on March 23, 2021 to shareholders of record at the close of business on March 8, 2021.

Risk management activities (Tab

Risk management activities (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Instruments [Abstract]
Remaining contractual maturities of financial liabilities	The following are the remaining contractual maturities of financial liabilities as at December 31, 2020 (in thousands $): Contractual obligations Carrying Less 1-3 3-5 More Lease obligation 7,460 2,501 4,719 240 — Compensation payable 15,192 15,192 — — — Operating accounts payable 19,046 19,046 — — — Contingent consideration 20,575 10,000 10,575 — — Loan facility 16,994 — — 16,994 — 79,267 46,739 15,294 17,234 —

Segmented information (Tables)

Segmented information (Tables)	12 Months Ended
	Dec. 31, 2020
Operating Segments [Abstract]
Disclosure of operations of Company's segments	The following tables present the operations of the Company's segments (in thousands $): For the year ended December 31, 2020 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 37,680 41,354 15,509 30,683 (7,214) 3,764 121,776 Total expenses 9,151 22,686 8,469 23,454 18,566 4,788 87,114 Income (loss) before income taxes 28,529 18,668 7,040 7,229 (25,780) (1,024) 34,662 Adjusted base EBITDA 30,563 10,762 7,272 8,052 (13,722) 1,239 44,166 For the year ended December 31, 2019 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 24,528 14,058 14,745 21,208 (2,604) 1,551 73,486 Total expenses 9,274 8,145 8,224 20,442 9,904 4,547 60,536 Income (loss) before income taxes 15,254 5,913 6,521 766 (12,508) (2,996) 12,950 Adjusted base EBITDA 17,988 3,167 10,725 3,342 (7,290) 1,071 29,003
Disclosure of revenue of the Company by geographic location	The following table presents the revenue of the Company by geographic location (in thousands $): For the years ended Dec. 31, 2020 Dec. 31, 2019 Canada 95,962 63,375 United States 25,814 10,111 121,776 73,486

Summary of significant accoun_4

Summary of significant accounting policies (Details)	3 Months Ended					12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
As at reporting date	1,310	1,320	1,310	1,340	1,360
Average rate for the 3 month ended	1,320	1,320	1,340	1,330	1,320
Bottom of range
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful lives of property and equipment						1 year
Top of range
Disclosure of detailed information about property, plant and equipment [line items]
Expected useful lives of property and equipment						5 years

Short-term investments (Details

Short-term investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Subclassifications of assets, liabilities and equities [abstract]
Public equities and share purchase warrants	$ 6,751	$ 10,520
Fixed income securities	731	4,220
Private holdings - Private investments	1,993	1,864
Private holdings - Energy contracts	0	891
Total short-term investments	$ 9,475	$ 17,495	$ 19,580

Co-Investments (Details)

Co-Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Subclassifications of assets, liabilities and equities [abstract]
Co-investments in funds	$ 82,467	$ 55,595
Total co-investments	$ 82,467	$ 55,595	$ 56,894

Other assets, income, expense_3

Other assets, income, expenses and non-controlling interest - Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Interest in Other Entities [Abstract]
Digital gold strategies	$ 11,518	$ 18,913
Fund recoveries and investment receivables	6,043	5,951
Assets attributable to non-controlling interests	3,518	0
Prepaid expenses	2,316	4,355
Other	1,919	2,231
Deferred costs related to the Acquisition	0	1,806
Total other assets	$ 25,314	$ 33,256

Other assets, income, expense_4

Other assets, income, expenses and non-controlling interest - Other income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest in Other Entities [Abstract]
Investment income	$ 1,502	$ 625
Income attributable to non-controlling interest	759	0
Total other income	$ 2,261	$ 625

Other assets, income, expense_5

Other assets, income, expenses and non-controlling interest - Other expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest in Other Entities [Abstract]
Costs related to energy assets	$ 798	$ 577
Foreign exchange losses	772	1,503
Increase in contingent consideration related to the Acquisition	4,717	0
Other	4,207	3,959
Total other expenses	10,494	6,039
Disclosure of associates [line items]
Net income attributable to non-controlling interest	565	0
Selling, general and administrative	11,555	12,479
Non-controlling interests
Disclosure of associates [line items]
Selling, general and administrative	$ 194	$ 0

Other assets, income, expense_6

Other assets, income, expenses and non-controlling interest - Non-controlling interests (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of associates [line items]
Assets	$ 377,348	$ 324,943	$ 321,246
Liabilities - current	(47,241)	(35,166)	$ (39,677)
Non-controlling interests
Disclosure of associates [line items]
Assets	3,518	0
Liabilities - current	(640)	0
Liabilities - long-term	$ (2,878)	$ 0

Property and equipment (Details

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 16,230
Property, plant and equipment at end of period	16,611	$ 16,230
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	25,401	15,051
Additions / Depreciation charge for the year	3,121	9,406
Net exchange differences	765	944
Property, plant and equipment at end of period	29,287	25,401
Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(9,171)	(6,008)
Additions / Depreciation charge for the year	(3,183)	(2,916)
Net exchange differences	(322)	(247)
Property, plant and equipment at end of period	(12,676)	(9,171)
Artwork
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,352
Property, plant and equipment at end of period	7,519	7,352
Artwork | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,352	7,040
Additions / Depreciation charge for the year	0	0
Net exchange differences	167	312
Property, plant and equipment at end of period	7,519	7,352
Artwork | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	0	0
Additions / Depreciation charge for the year	0	0
Net exchange differences	0	0
Property, plant and equipment at end of period	0	0
Furniture and fixtures
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	125
Property, plant and equipment at end of period	380	125
Furniture and fixtures | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,527	2,321
Additions / Depreciation charge for the year	279	107
Net exchange differences	70	99
Property, plant and equipment at end of period	2,876	2,527
Furniture and fixtures | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,402)	(2,288)
Additions / Depreciation charge for the year	(68)	(43)
Net exchange differences	(26)	(71)
Property, plant and equipment at end of period	(2,496)	(2,402)
Computer hardware and software
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	196
Property, plant and equipment at end of period	156	196
Computer hardware and software | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,706	2,613
Additions / Depreciation charge for the year	153	0
Net exchange differences	71	93
Property, plant and equipment at end of period	2,930	2,706
Computer hardware and software | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,510)	(2,099)
Additions / Depreciation charge for the year	(205)	(324)
Net exchange differences	(59)	(87)
Property, plant and equipment at end of period	(2,774)	(2,510)
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,715
Property, plant and equipment at end of period	2,001	2,715
Leasehold improvements | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	5,332	3,077
Additions / Depreciation charge for the year	254	2,117
Net exchange differences	135	138
Property, plant and equipment at end of period	5,721	5,332
Leasehold improvements | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,617)	(1,621)
Additions / Depreciation charge for the year	(970)	(926)
Net exchange differences	(133)	(70)
Property, plant and equipment at end of period	(3,720)	(2,617)
Right of use assets
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	5,842
Property, plant and equipment at end of period	6,555	5,842
Right of use assets | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,484	0
Additions / Depreciation charge for the year	2,435	7,182
Net exchange differences	322	302
Property, plant and equipment at end of period	10,241	7,484
Right of use assets | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(1,642)	0
Additions / Depreciation charge for the year	(1,940)	(1,623)
Net exchange differences	(104)	(19)
Property, plant and equipment at end of period	$ (3,686)	$ (1,642)

Goodwill and intangible asset_2

Goodwill and intangible assets - Reconciliation of intangible assets and goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	$ 133,227
Intangible assets and goodwill at end of period	175,117	$ 133,227
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	272,029	264,763
Additions and amortization charge for the period	36,107	1,376
Net exchange differences	6,652	5,890
Intangible assets and goodwill at end of period	314,788	272,029
Accumulated depreciation and amortisation [member]
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(138,802)	(136,855)
Additions and amortization charge for the period	(869)	(879)
Net exchange differences		(1,068)
Intangible assets and goodwill at end of period	(139,671)	(138,802)
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	19,149
Intangible assets and goodwill at end of period	19,149	19,149
Goodwill | Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	132,251	132,251
Net exchange differences	0	0
Intangible assets and goodwill at end of period	132,251	132,251
Goodwill | Accumulated depreciation and amortisation [member]
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(113,102)	(113,102)
Net exchange differences		0
Intangible assets and goodwill at end of period	(113,102)	(113,102)
Fund management contracts (indefinite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	103,470
Intangible assets and goodwill at end of period	146,031	103,470
Fund management contracts (indefinite life) | Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	103,470	97,744
Additions and amortization charge for the period	36,107	1,376
Net exchange differences	6,454	4,350
Intangible assets and goodwill at end of period	146,031	103,470
Fund management contracts (indefinite life) | Accumulated depreciation and amortisation [member]
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	0	0
Additions and amortization charge for the period	0	0
Net exchange differences		0
Intangible assets and goodwill at end of period	0	0
Fund management contracts (finite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	10,608
Intangible assets and goodwill at end of period	9,937	10,608
Fund management contracts (finite life) | Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	36,308	34,768
Additions and amortization charge for the period	0	0
Net exchange differences	198	1,540
Intangible assets and goodwill at end of period	36,506	36,308
Fund management contracts (finite life) | Accumulated depreciation and amortisation [member]
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(25,700)	(23,753)
Additions and amortization charge for the period	(869)	(879)
Net exchange differences		(1,068)
Intangible assets and goodwill at end of period	$ (26,569)	$ (25,700)

Goodwill and intangible asset_3

Goodwill and intangible assets - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)cash_generating_unit	Dec. 31, 2019USD ($)	Jan. 01, 2019USD ($)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Number of cash-generating units | cash_generating_unit	5
Goodwill	$ 19,149,000	$ 19,149,000	$ 19,149,000
Goodwill impairment	0
Intangible assets and goodwill	175,117,000	133,227,000
Fund management contracts (indefinite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	146,031,000	103,470,000
Additions for consideration transferred	15,000,000
Additions for contingent consideration	19,300,000
Additions for acquisition costs	1,800,000
Intangible asset impairment	0	0
Fund management contracts (finite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	9,937,000	10,608,000
Intangible asset impairment	$ 0	$ 0

Shareholders' equity - Capital

Shareholders' equity - Capital stock and contributed surplus (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2020shares	Dec. 31, 2020USD ($)	Dec. 31, 2020	[1]	Dec. 31, 2019USD ($)shares	May 28, 2020
Disclosure of classes of share capital [line items]
Common share consolidation ratio							0.10
Changes in equity [abstract]
Equity at beginning of period			$ 271,630			$ 273,509
Shares acquired for equity incentive plan			(2,514)			(4,906)
Issuance of share capital on purchase of management contracts			2,500
Shares released on vesting of equity incentive plan			0			0
Issuance of share capital on exercise of stock options			2,504
Shares acquired and canceled under normal course issuer bid			(2,024)			(1,715)
Issuance of share capital on conversion of RSUs and other share based considerations			0			1,403
Issuance of share capital under dividend reinvestment program			(23,095)			(22,862)
Share-based contingent consideration related to the Acquisition			4,879
Stock-based compensation			4,517			5,392
Equity at end of period			290,983			$ 271,630
Issued capital
Reconciliation of number of shares outstanding [abstract]
Number of shares outstanding at beginning of period (shares) | shares	[1]	24,417,639				24,306,233
Shares acquired for equity incentive plan (shares) | shares	[1]	(128,304)				(182,612)
Issuance of share capital on purchase of management contracts (shares) | shares	[1]	104,720
Shares released on vesting of equity incentive plan (shares) | shares	[1]	248,883				280,399
Issuance of share capital on exercise of stock options (shares)		150,000		150,000
Shares acquired and canceled under normal course issuer bid (shares) | shares	[1]	(112,343)				(74,060)
Issuance of share capital on conversion of RSUs and other share based considerations (shares) | shares	[1]	103,269				81,528
Issuance of share capital under dividend reinvestment program (shares) | shares	[1]	5,501				6,151
Number of shares outstanding at end of period (shares) | shares	[1]	24,789,365				24,417,639
Changes in equity [abstract]
Equity at beginning of period			407,900			$ 407,775
Shares acquired for equity incentive plan			(2,514)			(4,906)
Issuance of share capital on purchase of management contracts			2,500
Shares released on vesting of equity incentive plan			4,361			4,945
Issuance of share capital on exercise of stock options			5,159
Shares acquired and canceled under normal course issuer bid			(2,024)			(1,715)
Issuance of share capital on conversion of RSUs and other share based considerations			2,231			1,654
Issuance of share capital under dividend reinvestment program			145			147
Equity at end of period			417,758			407,900
Contributed surplus
Changes in equity [abstract]
Equity at beginning of period			43,160			42,964
Shares released on vesting of equity incentive plan			(4,361)			(4,945)
Issuance of share capital on exercise of stock options			(2,655)
Issuance of share capital on conversion of RSUs and other share based considerations			(2,231)			(251)
Share-based contingent consideration related to the Acquisition			4,879
Stock-based compensation			4,517			5,392
Equity at end of period			$ 43,309			$ 43,160
[1]	Amounts reflect retrospective application of the May 28, 2020 share consolidation (see Note 8).

Shareholders' equity - Stock op

Shareholders' equity - Stock option plan (Details)	12 Months Ended
	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Aggregate number of shares issuable as a percentage of Company's issued and outstanding shares at grant date (percent)			10.00%
Stock Option Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	3 years
Option exercisable period, maximum	10 years
Number of options exercised (shares)	150,000	0
Number of options expired (shares)	15,000	0
Number of options issued (shares)	0	0
Number of options outstanding, beginning balance (shares)	327,500	327,500
Number of options exercisable (shares)			162,500	257,500	187,500
Number of options exercised (shares)	(150,000)	0
Number of options expired (shares)	(15,000)	0
Number of options outstanding, ending balance (shares)	162,500	327,500
Weighted average exercise price of options outstanding, beginning of year (in CAD $ per share) | $ / shares	$ 25.70	$ 25.70
Weighted average exercise price of options exercisable (in CAD $ per share) | $ / shares			$ 23.61	$ 26	$ 27
Weighted average exercise price of options exercised (in CAD $ per share) | $ / shares	23.30
Weighted average exercise price of options expired (in CAD $ per share) | $ / shares	66
Weighted average exercise price of options outstanding, end of year (in CAD $ per share) | $ / shares	$ 23.61	$ 25.70
Number of options outstanding (shares)	162,500	327,500	162,500	327,500	327,500
Weighted average remaining contractual life of outstanding share options	5 years 1 month 6 days
Number of options exercisable (shares)			162,500	257,500	187,500
Stock Option Plan | Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding options (in CAD $ per share) | $ / shares			$ 23.30
Stock Option Plan | Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding options (in CAD $ per share) | $ / shares			$ 27.30
Stock Option Plan | CAD $23.30
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options exercisable (shares)			150,000
Number of options outstanding, ending balance (shares)	150,000
Exercise price of outstanding options (in CAD $ per share) | $ / shares			$ 23.30
Number of options outstanding (shares)	150,000		150,000
Weighted average remaining contractual life of outstanding share options	5 years 1 month 6 days
Number of options exercisable (shares)			150,000
Stock Option Plan | CAD $27.30
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of options exercisable (shares)			12,500
Number of options outstanding, ending balance (shares)	12,500
Exercise price of outstanding options (in CAD $ per share) | $ / shares			$ 27.30
Number of options outstanding (shares)	12,500		12,500
Weighted average remaining contractual life of outstanding share options	5 years 4 months 24 days
Number of options exercisable (shares)			12,500

Shareholders' equity - Equity i

Shareholders' equity - Equity incentive plan (Details)	12 Months Ended
	Dec. 31, 2020shares	Dec. 31, 2019shares
RSU's
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSU's granted (shares)	104,858	69,954
Trust acquired shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares acquired by The Trust	128,304	182,612
Number of shares held by the Trust at the beginning of the period (shares)	895,438	993,225
Acquired (shares)	128,304	182,612
Released on vesting (shares)	(248,883)	(280,399)
Number of shares held by the Trust at the end of the period (shares)	774,859	895,438

Shareholders' equity - Share-ba

Shareholders' equity - Share-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Compensation expense	$ 57,589	$ 35,247
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	4,517	5,392
Stock Option Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	10	188
Equity Incentive Plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	$ 4,507	$ 5,204

Shareholders' equity - Basic an

Shareholders' equity - Basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Numerator (in thousands $):
Net income - basic		$ 26,978	$ 10,209
Net income - diluted		$ 26,978	$ 10,209
Denominator (Number of shares in thousands):
Weighted average number of common shares		25,464,000	25,356,000
Weighted average number of unvested shares purchased by the Trust		(976,000)	(969,000)
Weighted average number of common shares - basic		24,488,000	24,387,000
Weighted average number of dilutive stock options		163,000	312,000
Weighted average number of unvested shares under EIP		1,132,000	969,000
Weighted average number of common shares - diluted		25,783,000	25,668,000
Net income per common share
Basic net income per common share (in USD per share)	[1]	$ 1.10	$ 0.42
Diluted net income per common share (in USD per share)	[1]	$ 1.05	$ 0.40
[1]	Amounts reflect retrospective application of the May 28, 2020 share consolidation (see Note 8).

Income taxes - Major components

Income taxes - Major components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Abstract]
Based on taxable income of the current period	$ 2,901	$ 2,395
Adjustments in respect to previous years	102	115
Total current income tax expense	3,003	2,510
Origination and reversal of temporary differences	5,373	231
Adjustments in respect to previous years	(692)	0
Total deferred income tax expense	4,681	231
Income tax expense reported in the consolidated statements of operations	$ 7,684	$ 2,741

Income taxes - Reconciliation o

Income taxes - Reconciliation of accounting profit multiplied by applicable tax rates and average effective tax rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income taxes	$ 34,662	$ 12,950
Tax calculated at domestic tax rates applicable to profits in the respective countries	9,324	3,432
Non-deductible stock-based compensation	356	107
Non-taxable capital (gains) and losses	841	(47)
Intangibles	(458)	87
Adjustments in respect of previous periods	(590)	115
Non-capital losses and other temporary differences not benefited previously	(1,563)	(1,405)
Rate differences and other	(226)	452
Income tax expense reported in the consolidated statements of operations	$ 7,684	$ 2,741
Weighted average statutory tax rate (percent)	26.90%	26.50%
Unused tax losses for which no deferred tax asset recognised	$ 8,000

Income taxes - Movement in sign

Income taxes - Movement in significant components of deferred income tax assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	$ 7,796
Deferred tax liabilities	5,939
Deferred tax liability (asset)	1,857
Recognized in income	(1,333)
Recognized in income	3,348
Recognized in income	(4,681)
Exchange rate differences	63
Exchange rate differences	261
Exchange rate differences	(198)
Deferred tax assets	6,526	$ 7,796
Deferred tax liabilities	9,548	5,939
Deferred tax liability (asset)	(3,022)	1,857
Deferred tax assets net by legal jurisdiction	1,729	4,271	$ 4,322
Deferred tax liabilities net by legal jurisdiction	4,751	2,414	$ 2,291
Stock-based compensation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	4,117
Recognized in income	(368)
Exchange rate differences	72
Deferred tax assets	3,821	4,117
Non-capital and capital losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	3,432
Recognized in income	(1,195)
Exchange rate differences	33
Deferred tax assets	2,270	3,432
Fund management contracts
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	6,809
Recognized in income	2,360
Exchange rate differences	277
Deferred tax liabilities	9,446	6,809
Unrealized gains (losses)
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	(910)
Recognized in income	997
Exchange rate differences	31
Deferred tax liabilities	118	(910)
Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	247
Deferred tax liabilities	40
Recognized in income	230
Recognized in income	(9)
Exchange rate differences	(42)
Exchange rate differences	(47)
Deferred tax assets	435	247
Deferred tax liabilities	(16)	40
Reclassified presentation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	8,706	7,686
Deferred tax liabilities	6,849	5,655
Deferred tax liability (asset)	1,857	2,031
Recognized in income		695
Recognized in income		926
Recognized in income		(231)
Exchange rate differences		325
Exchange rate differences		268
Exchange rate differences		57
Deferred tax assets		8,706
Deferred tax liabilities		6,849
Deferred tax liability (asset)		1,857
Reclassified presentation | Stock-based compensation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	4,117	3,349
Recognized in income		606
Exchange rate differences		162
Deferred tax assets		4,117
Reclassified presentation | Non-capital and capital losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	3,432	3,678
Recognized in income		(372)
Exchange rate differences		126
Deferred tax assets		3,432
Reclassified presentation | Fund management contracts
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	6,809	5,141
Recognized in income		1,404
Exchange rate differences		264
Deferred tax liabilities		6,809
Reclassified presentation | Unrealized gains (losses)
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	910	283
Recognized in income		604
Exchange rate differences		23
Deferred tax assets		910
Reclassified presentation | Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	247	376
Deferred tax liabilities	$ 40	514
Recognized in income		(143)
Recognized in income		(478)
Exchange rate differences		14
Exchange rate differences		4
Deferred tax assets		247
Deferred tax liabilities		$ 40

Fair value measurements - Recur

Fair value measurements - Recurring fair value measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of fair value measurement of assets [line items]
Assets	$ 377,348	$ 324,943	$ 321,246
Recurring fair value measurements | Current investments
Disclosure of fair value measurement of assets [line items]
Assets	9,475	16,604
Recurring fair value measurements | Current investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	5,101	7,537
Recurring fair value measurements | Current investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	2,110	6,437
Recurring fair value measurements | Current investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	2,264	2,630
Recurring fair value measurements | Public equities and share purchase warrants
Disclosure of fair value measurement of assets [line items]
Assets	6,751	10,520
Recurring fair value measurements | Public equities and share purchase warrants | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	5,101	7,537
Recurring fair value measurements | Public equities and share purchase warrants | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	1,379	2,983
Recurring fair value measurements | Public equities and share purchase warrants | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	271	0
Recurring fair value measurements | Fixed income securities
Disclosure of fair value measurement of assets [line items]
Assets	731	4,220
Recurring fair value measurements | Fixed income securities | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Fixed income securities | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	731	3,454
Recurring fair value measurements | Fixed income securities | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	0	766
Recurring fair value measurements | Private holdings
Disclosure of fair value measurement of assets [line items]
Assets	1,993	1,864
Recurring fair value measurements | Private holdings | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Private holdings | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Private holdings | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	1,993	1,864
Recurring fair value measurements | Total Co-investments
Disclosure of fair value measurement of assets [line items]
Assets	82,467	55,595
Recurring fair value measurements | Total Co-investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Total Co-investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	76,026	51,065
Recurring fair value measurements | Total Co-investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	6,441	4,530
Recurring fair value measurements | Co-investments in funds
Disclosure of fair value measurement of assets [line items]
Assets	82,467	55,595
Recurring fair value measurements | Co-investments in funds | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Co-investments in funds | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	76,026	51,065
Recurring fair value measurements | Co-investments in funds | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	6,441	4,530
Recurring fair value measurements | Total Other assets
Disclosure of fair value measurement of assets [line items]
Assets	11,518	18,913
Recurring fair value measurements | Total Other assets | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Total Other assets | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Total Other assets | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	11,518	18,913
Recurring fair value measurements | Digital gold strategies
Disclosure of fair value measurement of assets [line items]
Assets	11,518	18,913
Recurring fair value measurements | Digital gold strategies | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Digital gold strategies | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Digital gold strategies | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	$ 11,518	$ 18,913

Fair value measurements - Chang

Fair value measurements - Changes in fair value of Level 3 measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Changes in fair value measurement, assets [abstract]
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period	$ 500	$ 2,500
Transfers out of Level 3 into Level 1 of fair value hierarchy, assets held at end of reporting period	0	100
Transfers out of Level 3 into Level 2 of fair value hierarchy, assets held at end of reporting period	$ 800	$ 0
Percentage increase in unobservable input (percent)	5.00%	5.00%
Percentage decrease in unobservable input (percent)		5.00%
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss	$ 1,000	$ 900
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss	1,000	900
Level 3
Changes in fair value measurement, assets [abstract]
Purchases of Level 3 investments	2,100	3,800
Recurring fair value measurements | Current investments | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	2,630	2,808
Purchases and reclassifications	(512)	34
Settlements	(15)	(43)
Net unrealized gains (losses) included in net income	161	(169)
Financial assets at end of period	2,264	2,630
Purchases and reclassifications	(512)	34
Recurring fair value measurements | Share purchase warrants | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	0
Purchases and reclassifications	271	0
Settlements	0
Net unrealized gains (losses) included in net income	0
Financial assets at end of period	271	0
Purchases and reclassifications	271	0
Recurring fair value measurements | Private holdings | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	1,864	2,075
Purchases and reclassifications	0	34
Settlements	(15)	(43)
Net unrealized gains (losses) included in net income	144	(202)
Financial assets at end of period	1,993	1,864
Purchases and reclassifications	0	34
Recurring fair value measurements | Fixed income securities | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	766	733
Purchases and reclassifications	(783)	0
Settlements	0	0
Net unrealized gains (losses) included in net income	17	33
Financial assets at end of period	0	766
Purchases and reclassifications	(783)	0
Recurring fair value measurements | Total Co-investments | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	4,530	3,574
Purchases and reclassifications	1,628	1,193
Settlements	0	0
Net unrealized gains (losses) included in net income	283	(237)
Financial assets at end of period	6,441	4,530
Purchases and reclassifications	1,628	1,193
Recurring fair value measurements | Co-investments in funds | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	4,530	3,574
Purchases and reclassifications	1,628	1,193
Settlements	0	0
Net unrealized gains (losses) included in net income	283	(237)
Financial assets at end of period	6,441	4,530
Purchases and reclassifications	1,628	1,193
Recurring fair value measurements | Total Other assets | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	18,913	18,285
Purchases and reclassifications	500	2,574
Settlements	0	0
Net unrealized gains (losses) included in net income	(7,895)	(1,946)
Financial assets at end of period	11,518	18,913
Purchases and reclassifications	500	2,574
Recurring fair value measurements | Digital gold strategies | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	18,913	18,285
Purchases and reclassifications	500	2,574
Settlements	0	0
Net unrealized gains (losses) included in net income	(7,895)	(1,946)
Financial assets at end of period	11,518	18,913
Purchases and reclassifications	$ 500	$ 2,574

Related party transactions (Det

Related party transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)shares
Disclosure of transactions between related parties [line items]
Fixed salaries and benefits	$ 3,247	$ 2,155
Variable incentive-based compensation	8,715	3,405
Share-based compensation	1,817	1,678
Remuneration of directors and other key management personnel	$ 13,779	$ 7,238
Key management personnel of entity or parent [member] | DSU Plan
Disclosure of transactions between related parties [line items]
Vesting period	3 years
Number of DSU's issued during the year (shares) | shares	3,559	12,349

Dividends (Details)

Dividends (Details) $ / shares in Units, $ in Thousands	Feb. 25, 2021$ / shares	Dec. 08, 2020USD ($)$ / shares	Sep. 01, 2020USD ($)$ / shares	Jun. 03, 2020USD ($)	Jun. 03, 2020$ / shares	Mar. 24, 2020USD ($)	Mar. 24, 2020$ / shares	Dec. 31, 2020USD ($)	May 28, 2020
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends paid, ordinary shares (in USD per share, CAD per share) | (per share)		$ 0.25	$ 0.23		$ 0.30		$ 0.30
Total dividend amount | $		$ 6,378	$ 5,915	$ 5,560		$ 5,387		$ 23,240
Common share consolidation ratio									0.10
Regular dividends declared (in USD per share) | $ / shares	$ 0.25

Risk management activities (Det

Risk management activities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Nov. 13, 2020	Nov. 12, 2020	Jan. 01, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Fixed income securities	$ 731,000	$ 4,220,000
Assets	377,348,000	324,943,000			$ 321,246,000
Cash	43,901,000	50,724,000
Other assets	25,314,000	33,256,000
Cash and cash equivalents	44,106,000	54,748,000			34,637,000	$ 34,637,000
Proprietary investments	9,475,000	17,495,000			19,580,000
Co-investment commitments	$ 82,467,000	$ 55,595,000			$ 56,894,000
Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity under borrowing facilities			$ 70,000,000	$ 61,000,000
Price risk
Disclosure of detailed information about financial instruments [line items]
Percentage change in unobservable input (percent)	5.00%	5.00%
Change in fair value measurement due to reasonably possible change in unobservable input, recognised in profit or loss	$ 5,200,000	$ 4,500,000
Foreign currency risk | US Dollars
Disclosure of detailed information about financial instruments [line items]
Percentage change in unobservable input (percent)	5.00%	5.00%
Change in fair value measurement due to reasonably possible change in unobservable input, recognised in profit or loss	$ 4,800,000	$ 5,700,000
Assets	74,100,000	73,700,000
Cash	12,200,000	29,700,000
Accounts receivable	8,100,000	5,700,000
Other assets	1,500,000	3,700,000
Credit risk
Disclosure of detailed information about financial instruments [line items]
Credit exposure	0	0
Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	44,100,000	54,700,000
Proprietary investments	35,100,000	10,500,000
Liquidity risk | Lending
Disclosure of detailed information about financial instruments [line items]
Co-investment commitments	$ 4,600,000	$ 6,600,000
Liquidity risk | Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Risk Exposure Associated With Financial Instruments, Proprietary Investments, Percentage	12.00%	17.00%
Liquidity risk | Current investments
Disclosure of detailed information about financial instruments [line items]
Risk Exposure Associated With Financial Instruments, Proprietary Investments, Percentage	38.00%	14.00%
Liquidity risk | Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity under borrowing facilities	$ 70,000,000

Risk management activities - Re

Risk management activities - Remaining contractual maturities of financial liabilities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	$ 7,460
Compensation payable	15,192
Operating accounts payable	19,046
Contingent consideration	20,575
Loan facility	16,994
Non-derivative financial liabilities, undiscounted cash flows	79,267
Less than 1 year
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	2,501
Compensation payable	15,192
Operating accounts payable	19,046
Contingent consideration	10,000
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	46,739
1-3 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	4,719
Compensation payable	0
Operating accounts payable	0
Contingent consideration	10,575
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	15,294
3-5 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	240
Compensation payable	0
Operating accounts payable	0
Contingent consideration	0
Loan facility	16,994
Non-derivative financial liabilities, undiscounted cash flows	17,234
More than 5 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	0
Compensation payable	0
Operating accounts payable	0
Contingent consideration	0
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	$ 0

Segmented information (Details)

Segmented information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)
Disclosure of operating segments [line items]
Number of reportable segments | segment	5
Total revenue	$ 121,776	$ 73,486
Total expenses	87,114	60,536
Income (loss) before income taxes	34,662	12,950
Adjusted base EBITDA	44,166	29,003
Reportable segments | Exchange listed products
Disclosure of operating segments [line items]
Total revenue	37,680	24,528
Total expenses	9,151	9,274
Income (loss) before income taxes	28,529	15,254
Adjusted base EBITDA	30,563	17,988
Reportable segments | Managed equities
Disclosure of operating segments [line items]
Total revenue	41,354	14,058
Total expenses	22,686	8,145
Income (loss) before income taxes	18,668	5,913
Adjusted base EBITDA	10,762	3,167
Reportable segments | Lending
Disclosure of operating segments [line items]
Total revenue	15,509	14,745
Total expenses	8,469	8,224
Income (loss) before income taxes	7,040	6,521
Adjusted base EBITDA	7,272	10,725
Reportable segments | Brokerage
Disclosure of operating segments [line items]
Total revenue	30,683	21,208
Total expenses	23,454	20,442
Income (loss) before income taxes	7,229	766
Adjusted base EBITDA	8,052	3,342
Reportable segments | Corporate
Disclosure of operating segments [line items]
Total revenue	(7,214)	(2,604)
Total expenses	18,566	9,904
Income (loss) before income taxes	(25,780)	(12,508)
Adjusted base EBITDA	(13,722)	(7,290)
Consolidation, elimination and all other segments
Disclosure of operating segments [line items]
Total revenue	3,764	1,551
Total expenses	4,788	4,547
Income (loss) before income taxes	(1,024)	(2,996)
Adjusted base EBITDA	$ 1,239	$ 1,071

Segmented information - Revenue

Segmented information - Revenue by geographic location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Canada
Disclosure of geographical areas [line items]
Total revenue	$ 95,962	$ 63,375
United States
Disclosure of geographical areas [line items]
Total revenue	$ 25,814	$ 10,111

Loan facility (Details)

Loan facility (Details) - USD ($) $ in Thousands	Nov. 13, 2020	Dec. 31, 2020	Nov. 12, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of detailed information about borrowings [line items]
Amounts outstanding on Company's credit facility due within 12 months		$ 0		$ 3,829	$ 0
Amounts outstanding on Company's credit facility due after 12 months		16,994		11,486	$ 0
Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about borrowings [line items]
Amounts outstanding on Company's credit facility		$ 17,000		15,300
Amounts outstanding on Company's credit facility due within 12 months				3,800
Amounts outstanding on Company's credit facility due after 12 months				$ 11,500
Term of credit facility	5 years
Maximum borrowing capacity under borrowing facilities	$ 70,000		$ 61,000
Revolving Credit Facility Maturing December 14, 2025 | Bottom of range
Disclosure of detailed information about borrowings [line items]
Covenant terms - minimum AUM (percent)	70.00%
Covenant terms - EBITDA to interest expense	2.5
Revolving Credit Facility Maturing December 14, 2025 | Top of range
Disclosure of detailed information about borrowings [line items]
Covenant terms - debt to EBITDA	2.5
Revolving Credit Facility Maturing December 14, 2025 | Prime Rate
Disclosure of detailed information about borrowings [line items]
Basis spread on floating rate (percent)	0.00%
Revolving Credit Facility Maturing December 14, 2025 | Bankers Acceptance Rate
Disclosure of detailed information about borrowings [line items]
Basis spread on floating rate (percent)	1.70%

Commitments and provisions (Det

Commitments and provisions (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Co-investment commitments	$ 4.6	$ 6.6

Subsequent events (Details)

Subsequent events (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended	12 Months Ended
	Feb. 26, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [line items]
Final payment consideration made in cash			$ 12,500	$ 0
Expense incurred on revision of contingent consideration			$ 4,717	$ 0
Amendment to original asset purchase agreement
Disclosure of non-adjusting events after reporting period [line items]
Final payment consideration	$ 30,000
Final payment consideration made in cash	27,000
Final payment consideration in form of common shares	$ 3,000
Expense incurred on revision of contingent consideration		$ 4,400

Uncategorized Items - sii-20201

Label	Element	Value
Short-term deposits, classified as cash equivalents	ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents	$ 205,000
Short-term deposits, classified as cash equivalents	ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents	$ 4,024,000