Sprott (SII) 40-F 25 Feb 22 2021 FY Annual report (Canada) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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, Country	CA
Entity Address, Postal Zip Code	M5J 2J1
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
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Common Stock, Shares Outstanding	25,766,025
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Central Index Key	0001512920
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Business Contact / Agent
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

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Auditor [Line Items]
Auditor Firm ID	85
Auditor Name	KPMG LLP
Auditor Location	Toronto, ON M5H 2S5Canada

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current
Cash and cash equivalents	$ 49,805	$ 44,106
Fees receivable	13,183	21,581
Short-term investments	6,133	9,475
Other assets	6,793	9,196
Income taxes recoverable	1,613	948
Total current assets	77,527	85,306
Non-current
Co-investments	68,765	82,467
Other assets	12,433	16,118
Property and equipment, net	16,479	16,611
Intangible assets	170,061	155,968
Goodwill	19,149	19,149
Deferred income taxes	1,459	1,729
Total non-current assets	288,346	292,042
Total assets	365,873	377,348
Current
Accounts payable and accrued liabilities	9,362	29,702
Compensation payable	15,751	15,192
Income taxes payable	3,005	2,347
Total current liabilities	28,118	47,241
Non-current
Other accrued liabilities	8,280	17,379
Loan facility	29,769	16,994
Deferred income taxes	8,487	4,751
Total liabilities	74,654	86,365
Shareholders' equity
Capital stock	417,425	417,758
Contributed surplus	35,357	43,309
Deficit	(97,006)	(104,484)
Accumulated other comprehensive loss	(64,557)	(65,600)
Total shareholders' equity	291,219	290,983
Total liabilities and shareholders' equity	365,873	377,348
Commitments and provisions

Consolidated statements of oper

Consolidated statements of operations and comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues
Management fees	$ 103,909	$ 72,916
Carried interest and performance fees	12,235	10,075
Commissions	45,266	27,459
Finance income	3,535	3,956
Gain (loss) on investments	(1,883)	5,109
Other income	1,583	2,261
Total revenues	164,645	121,776
Expenses
Compensation	76,721	57,589
Trailer, sub-advisor and other fees	9,745	2,643
Selling, general and administrative	14,697	11,099
Interest expense	1,161	1,237
Amortization of intangibles	930	869
Depreciation of property and equipment	3,622	3,183
Other expenses (credits)	12,579	10,494
Total expenses	119,455	87,114
Income before income taxes for the period	45,190	34,662
Provision for income taxes	12,005	7,684
Net income for the period	$ 33,185	$ 26,978
Net income per share:
Basic (in USD per share)	$ 1.33	$ 1.10
Diluted (in USD per share)	$ 1.28	$ 1.05
Comprehensive income [abstract]
Net income for the period	$ 33,185	$ 26,978
Other comprehensive income (loss)
Foreign currency translation gain (loss) (taxes of $Nil)	1,043	5,608
Total other comprehensive income (loss)	1,043	5,608
Comprehensive income	$ 34,228	$ 32,586

Consolidated statements of op_2

Consolidated statements of operations and comprehensive income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
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 - USD ($) $ in Thousands		Total	Capital stock	Contributed surplus	Deficit	Accumulated other comprehensive income (loss)
Number of shares outstanding at beginning of period (shares) at Dec. 31, 2019	[1]		24,417,639
Equity at beginning of period at Dec. 31, 2019		$ 271,630	$ 407,900	$ 43,160	$ (108,222)	$ (71,208)
Shares acquired for equity incentive plan (shares)	[1]		(128,304)
Shares acquired for equity incentive plan		(2,514)	$ (2,514)
Issuance of share capital on purchase of management contracts (shares)	[1]		104,720
Issuance of share capital to settle contingent consideration		2,500	$ 2,500	4,879
Share-based contingent consideration related to the Tocqueville acquisition		4,879		4,879
Shares released on vesting of equity incentive plan (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)	[1]		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)	[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 (in shares)	[1]		103,269
Issuance of share capital on conversion of RSUs		0	$ 2,231	(2,231)
Dividends declared (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	[1]		24,789,365
Equity at end of period at Dec. 31, 2020		290,983	$ 417,758	43,309	(104,484)	(65,600)
Shares acquired for equity incentive plan (shares)	[1]		(237,172)
Shares acquired for equity incentive plan		(10,201)	$ (10,201)
Issuance of share capital on purchase of management contracts (shares)	[1]		93,023
Issuance of share capital to settle contingent consideration		(1,879)	$ 3,000	(4,879)
Share-based contingent consideration related to the Tocqueville acquisition				(4,879)
Shares released on vesting of equity incentive plan (shares)	[1]		237,626
Shares released on vesting of equity incentive plan		0	$ 4,382	(4,382)
Foreign currency translation gain (loss)		1,043				1,043
Stock-based compensation		3,650		3,650
Issuance of share capital on conversion of RSUs (in shares)	[1]		105,291
Issuance of share capital on conversion of RSUs		0	$ 2,341	(2,341)
Dividends declared (shares)	[1]		3,487
Dividends declared		(25,562)	$ 145		(25,707)
Net income		33,185			33,185
Number of shares outstanding at end of period (shares) at Dec. 31, 2021	[1]		24,991,620
Equity at end of period at Dec. 31, 2021		$ 291,219	$ 417,425	$ 35,357	$ (97,006)	$ (64,557)
[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, 2021	Dec. 31, 2020
Operating activities
Net income	$ 33,185	$ 26,978
Add (deduct) non-cash items:
(Gain) Loss on investments	1,883	(5,109)
Stock-based compensation	3,650	4,517
Depreciation and amortization of property, equipment and intangible assets	4,552	4,052
Deferred income tax expense	4,034	4,681
Current income tax expense	7,971	3,003
Other items	(1,291)	1,015
Income taxes paid	(7,838)	(795)
Changes in:
Fees receivable	8,398	(12,899)
Other assets	2,294	(2,971)
Accounts payable, accrued liabilities and compensation payable	(5,592)	3,767
Cash provided by (used in) operating activities	51,246	26,239
Investing activities
Purchase of investments	(15,225)	(23,634)
Sale of investments	35,843	19,728
Purchase of property and equipment	(693)	(686)
Management contract consideration	(40,559)	(12,500)
Cash provided by (used in) investing activities	(20,634)	(17,092)
Financing activities
Acquisition of common shares for equity incentive plan	(10,201)	(2,514)
Acquisition of common shares under normal course issuer bid	0	(2,024)
Cash received on exercise of stock options	0	2,504
Repayment of lease liabilities	(1,969)	(1,904)
Contributions from non-controlling interests	892	3,518
Net advances from loan facility	12,652	1,074
Dividends paid	(25,562)	(23,095)
Cash provided by (used in) financing activities	(24,188)	(22,441)
Effect of foreign exchange on cash balances	(725)	2,652
Net increase (decrease) in cash and cash equivalents during the period	5,699	(10,642)
Cash and cash equivalents, beginning of the period	44,106	54,748
Cash and cash equivalents, end of the period	49,805	44,106
Cash and cash equivalents:
Cash	44,087	43,901
Short-term deposits	5,718	205
Total cash and cash equivalents	$ 49,805	$ 44,106

Corporate information

Corporate information	12 Months Ended
	Dec. 31, 2021
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, 2021
Corporate Information and Statement of IFRS Compliance [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Statement of compliance These annual audited consolidated financial statements for the years ended December 31, 2021 and 2020 ("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 24, 2022 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. 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 in the Other expenses (credits) line of the consolidated statements of operations and comprehensive income . 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) SGRIL Holdings Inc. ("SGRIL Holdings"); (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 "US entities" in these financial statements; • Sprott Resource Streaming and Royalty Corporation and Sprott Private Resource Streaming and Royalty (Management) Corp ("SRSR"); • 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 funds, 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 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 gain (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. 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 with 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 co-investment income from lending LP units and interest income from brokerage client accounts, 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 transferred, and include an estimate for contingent consideration where applicable. Intangible assets with finite lives are amortized over their useful economic life and assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value is greater than its recoverable amount. 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 is greater than its recoverable amount. 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 sheets 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 sheets 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 sheets. 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 incurred. 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. The recoverable amounts associated with goodwill and intangibles involve estimates and assumptions, including those with respect to future cash inflows and outflows, discount rates and asset lives, and are determined using the value-in-use method. These estimates require significant judgment regarding market growth rates, discount 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. 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 U.S. entities, which uses the U.S. dollar as their functional currency. Accordingly, the assets and liabilities of U.S. entities 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 U.S. entities

Short-term investments

Short-term investments	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Public equities and share purchase warrants FVTPL 4,113 6,751 Fixed income securities FVTPL — 731 Private holdings FVTPL 2,020 1,993 Total short-term investments 6,133 9,475 Gains and losses on financial assets and liabilities classified at FVTPL are included in the Gain (loss) on investments line in the consolidated statements of operations and comprehensive income. Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2021 Dec. 31, 2020 Co-investments in funds FVTPL 68,765 82,467 Total co-investments 68,765 82,467 Gains and losses on co-investments in funds are included in the Gain (loss) on investments line in the consolidated statements of operations and comprehensive income.

Co-investments

Co-investments	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Public equities and share purchase warrants FVTPL 4,113 6,751 Fixed income securities FVTPL — 731 Private holdings FVTPL 2,020 1,993 Total short-term investments 6,133 9,475 Gains and losses on financial assets and liabilities classified at FVTPL are included in the Gain (loss) on investments line in the consolidated statements of operations and comprehensive income. Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2021 Dec. 31, 2020 Co-investments in funds FVTPL 68,765 82,467 Total co-investments 68,765 82,467 Gains and losses on co-investments in funds are included in the Gain (loss) on investments line in 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, 2021
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, 2021 Dec. 31, 2020 Digital gold strategies (1) 7,060 11,518 Fund recoveries and investment receivables 2,509 6,043 Assets attributable to non-controlling interests 3,780 3,518 Prepaid expenses 3,637 2,316 Other (2) 2,240 1,919 Total other assets 19,226 25,314 (1) Digital gold strategies are financial instruments classified at FVTPL. Gains and losses are included in the Gain (loss) on investments line in the consolidated statements of operations and comprehensive income. (2) Includes miscellaneous third-party receivables. Other income Consist of the following (in thousands $): For the years ended Dec. 31, 2021 Dec. 31, 2020 Investment income (1) 1,490 1,502 Income attributable to non-controlling interest 93 759 Total other income 1,583 2,261 (1) Primarily includes miscellaneous investment fund income, syndication and trailer fee income. Other expenses (credits) Consist of the following (in thousands $): For the years ended Dec. 31, 2021 Dec. 31, 2020 Costs related to energy assets — 798 Foreign exchange (gain) loss 470 772 Increase in contingent consideration related to the Tocqueville transaction (1) 4,449 4,717 Other (2) 7,660 4,207 Total other expenses (credits) 12,579 10,494 (1) During the first quarter, the contingent consideration was successfully renegotiated, re-measured and settled as part of the previously announced amendment to the purchase agreement. (2) Includes net income attributable to non-controlling interest of $93 thousand for the year ended December 31, 2021 (year ended December 31, 2020 - $759 thousand) as well as non-recurring professional fees, transaction and new fund start-up costs. During the year, the Company also made a $2.6 million payment to the former owners of Central Fund of Canada Limited to cover legacy transaction costs from the 2018 acquisition . 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 (in thousands $): Dec. 31, 2021 Dec. 31, 2020 Assets 3,780 3,518 Liabilities - current (1) (10) (640) Liabilities - long-term (1) (3,770) (2,878) (1) Current and long-term liabilities attributable to non-controlling interest are included in accounts payable and accrued liabilities and other accrued liabilities, respectively.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2021
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, 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 Additions — 95 101 497 2,937 3,630 Disposals — — — (196) (372) (568) Net exchange differences 54 10 5 4 84 157 At Dec. 31, 2021 7,573 2,981 3,036 6,026 12,890 32,506 Accumulated amortization 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) Depreciation charge for the year — (101) (93) (1,077) (2,351) (3,622) Disposals — — — 196 168 364 Net exchange differences — 18 (15) 31 (127) (93) At Dec. 31, 2021 — (2,579) (2,882) (4,570) (5,996) (16,027) Net book value at: Dec. 31, 2020 7,519 380 156 2,001 6,555 16,611 Dec. 31, 2021 7,573 402 154 1,456 6,894 16,479

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2021
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, 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 Additions — 13,559 — 13,559 Net exchange differences — 1,383 81 1,464 At Dec. 31, 2021 132,251 160,973 36,587 329,811 Accumulated amortization 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) Amortization charge for the period — — (930) (930) At Dec. 31, 2021 (113,102) — (27,499) (140,601) Net book value at: Dec. 31, 2020 19,149 146,031 9,937 175,117 Dec. 31, 2021 19,149 160,973 9,088 189,210 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, 2021, the Company had allocated $19.1 million ( December 31, 2020 - $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, 2021, the Company had indefinite life intangibles related to fund management contracts of $161 million (December 31, 2020 - $146 million). There was no impairment as at December 31, 2021. The addition during the year was due to the Uranium Participation Corporation transaction ("UPC acquisition"). Impairment assessment of finite life fund management contracts As at December 31, 2021, the Company had exchange listed fund management contracts within the exchange listed products CGU of $9.1 million (December 31, 2020 - $9.9 million). There was no impairment as at December 31, 2021.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2021
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, 2020 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, 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 cancelled under normal course issuer bid (112,343) (2,024) Issuance of share capital on conversion of RSUs 103,269 2,231 Issuance of share capital under dividend reinvestment program 5,501 145 At Dec. 31, 2020 24,789,365 417,758 Shares acquired for equity incentive plan (237,172) (10,201) Issuance of share capital to settle contingent consideration 93,023 3,000 Shares released on vesting of equity incentive plan 237,626 4,382 Issuance of share capital on conversion of RSUs 105,291 2,341 Issuance of share capital under dividend reinvestment program 3,487 145 At Dec. 31, 2021 24,991,620 417,425 Contributed surplus consists of: stock option expense; earn-out shares expense; equity incentive plans' expense; and additional purchase consideration. Stated value At Dec. 31, 2019 43,160 Stock-based compensation 4,517 Issuance of share capital on conversion of RSUs (2,231) Share-based contingent consideration related to the Tocqueville acquisition 4,879 Released on exercise of stock option plan (2,655) Released on vesting of common shares for equity incentive plan (4,361) At Dec. 31, 2020 43,309 Issuance of share capital to settle contingent consideration (4,879) Shares released on vesting of equity incentive plan (4,382) Stock-based compensation 3,650 Issuance of share capital on conversion of RSUs (2,341) At Dec. 31, 2021 35,357 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 typically 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 no stock options issued during the year ended December 31, 2021 (year ended December 31, 2020 - Nil). There were no stock options exercised during the year ended December 31, 2021 (year ended December 31, 2020 - 150,000). 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, 2019 327,500 25.70 Options exercisable, Dec. 31, 2019 257,500 26.00 Options outstanding, Dec. 31, 2020 162,500 23.61 Options exercisable, Dec. 31, 2020 162,500 23.61 Options outstanding, Dec. 31, 2021 162,500 23.61 Options exercisable, Dec. 31, 2021 162,500 23.61 Options outstanding and exercisable as at December 31, 2021 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 4.1 150,000 27.30 12,500 4.4 12,500 23.30 to 27.30 162,500 4.1 162,500 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; and (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 . 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 1,182 RSUs granted during the year ended December 31, 2021 (year ended December 31, 2020 - 104,858). The Trust acquired 237,172 shares in the year ended December 31, 2021 (year ended December 31, 2020 - 128,304). Number of 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 Acquired 237,172 Released on vesting (237,626) Unvested common shares held by the Trust, Dec. 31, 2021 774,405 Of the $76.7 million compensation expense for the year ended December 31, 2021 (December 31, 2020 - $57.6 million), $3.7 million (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, 2021 Dec. 31, 2020 Stock option plan — 10 EIP 3,650 4,507 Total stock-based compensation 3,650 4,517 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, 2021 Dec. 31, 2020 Numerator (in thousands $): Net income - basic and diluted 33,185 26,978 Denominator (Number of shares in thousands): Weighted average number of common shares 25,695 25,464 Weighted average number of unvested shares purchased by the Trust (817) (976) Weighted average number of common shares - basic 24,878 24,488 Weighted average number of dilutive stock options 163 163 Weighted average number of unvested shares under EIP 867 1,132 Weighted average number of common shares - diluted 25,908 25,783 Net income per common share Basic 1.33 1.10 Diluted 1.28 1.05 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") 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. SAM US and RCIC are also registered with the SEC. As at December 31, 2021 and December 31, 2020, all entities were in compliance with their respective capital requirements.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Current income tax expense Based on taxable income of the current period 7,835 2,901 Adjustments in respect to previous years 136 102 Total current income tax expense 7,971 3,003 Deferred income tax expense Origination and reversal of temporary differences 5,010 5,373 Adjustments in respect to previous years (976) (692) Total deferred income tax expense 4,034 4,681 Income tax expense reported in the consolidated statements of operations 12,005 7,684 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, 2021 Dec. 31, 2020 Income before income taxes 45,190 34,662 Tax calculated at domestic tax rates applicable to profits in the respective countries 12,079 9,324 Tax effects of: Non-deductible stock-based compensation 221 356 Non-taxable capital (gains) and losses 161 841 Intangibles 78 (458) Adjustments in respect of previous periods (840) (590) Temporary difference not currently utilized and (not benefited previously) 87 (1,563) Rate differences and other 219 (226) Tax charge 12,005 7,684 The weighted average statutory tax rate was 26.7% (December 31, 2020 - 26.9%). The Company has $2 million of capital tax losses from prior years that will begin to expire in 2024. 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, 2021 Dec. 31, 2020 Recognized in income Exchange rate differences Dec. 31, 2021 Deferred income tax assets Stock-based compensation 3,821 333 23 4,177 Non-capital and capital losses 2,270 (1,240) 31 1,061 Other 435 140 2 577 Total deferred income tax assets 6,526 (767) 56 5,815 Deferred income tax liabilities Fund management contracts 9,446 4,477 18 13,941 Unrealized gains (losses) 118 (1,109) 13 (978) Other (16) (101) (3) (120) Total deferred income tax liabilities 9,548 3,267 28 12,843 Net deferred income tax assets (liabilities) (1) (3,022) (4,034) 28 (7,028) 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)

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2021
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, 2021 and December 31, 2020 (in thousands $). Short-term investments Dec. 31, 2021 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 1,790 2,188 135 4,113 Private holdings — — 2,020 2,020 Total net recurring fair value measurements 1,790 2,188 2,155 6,133 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 Co-investments Dec. 31, 2021 Level 1 Level 2 Level 3 Total Co-investments in funds — 68,765 — 68,765 Total net recurring fair value measurements — 68,765 — 68,765 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 Other assets Dec. 31, 2021 Level 1 Level 2 Level 3 Total Digital gold strategies — — 7,060 7,060 Total net recurring fair value measurements — — 7,060 7,060 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 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, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Share purchase warrants 271 61 (3) (194) 135 Private holdings 1,993 — — 27 2,020 2,264 61 (3) (167) 2,155 Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2020 Private holdings 1,864 — (15) 144 1,993 Fixed income securities 766 (783) — 17 — Share purchase warrants — 271 — — 271 2,630 (512) (15) 161 2,264 Co-investments Changes in the fair value of Level 3 measurements - Dec. 31, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Co-investments in funds 6,441 (6,441) — — — 6,441 (6,441) — — — Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales 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 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Digital gold strategies 11,518 100 (2,000) (2,558) 7,060 11,518 100 (2,000) (2,558) 7,060 Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales 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 During the year ended December 31, 2021, the Company transferred public equities of $Nil (December 31, 2020 - $0.5 million) from Level 2 to Level 1 within the fair value hierarchy. For the year ended December 31, 2021, the Company purchased level 3 investments of $0.1 million (December 31, 2020 - $2.1 million) and sold level 3 investments of $2 million (December 31, 2020 - $Nil). Total proceeds from the sale were $6.5 million, with the $4.5 million gain recorded in gain (loss) on investments in the consolidated statements of operations and comprehensive income. For the year ended December 31, 2021, the Company transferred $Nil (December 31, 2020 - $Nil) from Level 3 to Level 1 within the fair value hierarchy. For the year ended December 31, 2021, the Company transferred $0.1 million (December 31, 2020 -$0.3 million) 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, 2021, the Company transferred $6.5 million (December 31, 2020 - $0.8 million) from Level 3 to Level 2 within the fair value hierarchy. 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, share purchase warrants 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, volatility, 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 $0.5 million (December 31, 2020 - $1 million). Financial instruments not carried at fair value

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Fixed salaries and benefits 3,932 3,247 Variable incentive-based compensation 11,991 8,715 Share-based compensation 738 1,817 16,661 13,779

Dividends

Dividends	12 Months Ended
	Dec. 31, 2021
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends	Dividends The following dividends were declared by the Company during the year ended December 31, 2021: Record date Payment Date Cash dividend Total dividend amount (in thousands $) March 8, 2021 - Regular dividend Q4 2020 March 23, 2021 $0.25 6,426 May 17, 2021 - Regular dividend Q1 2021 June 1, 2021 $0.25 6,426 August 16, 2021 - Regular dividend Q2 2021 August 31, 2021 $0.25 6,426 November 15, 2021 - Regular dividend Q3 2021 November 30, 2021 $0.25 6,429 Dividends (1) 25,707 (1) Subsequent to year end, on February 24, 2022, a regular dividend of $0.25 per common share was declared for the quarter ended December 31, 2021. This dividend is payable on March 22, 2022 to shareholders of record at the close of business on March 7, 2022.

Risk management activities

Risk management activities	12 Months Ended
	Dec. 31, 2021
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 investments and co-investments. 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 $4.1 million for the year (December 31, 2020 - $5.2 million). For more details about the Company's investments and co-investments, refer to Note 3, Note 4 and Note 5. The Company's revenues are also exposed to price risk since management fees, carried interest and performance fees are all 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, SRSR, 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, 2021, the Company had no fixed income securities (December 31, 2020 - $0.7 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 US entities 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 US entities, as at December 31, 2021, approximately $59.1 million (December 31, 2020 - $74.1 million) of total Canadian assets were invested in proprietary investments priced in USD. A total of $13 million (December 31, 2020 - $12.2 million) of cash, $6 million (December 31, 2020 -$8.1 million) of accounts receivable and $3.4 million (December 31, 2020 - $1.5 million) of other assets were denominated in USD. As at December 31, 2021, 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 $4.1 million for the year (December 31, 2020 - $4.8 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 indirectly through co-investments made in the lending LPs managed by SRLC and SRSR. 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. The Company may 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. Net investments The Company incurs credit risk when entering into, settling and financing various proprietary transactions. As at December 31, 2021 and 2020, 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; and 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 and managed accounts 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 US entities incur credit risk when entering into, settling and financing various proprietary transactions. As at December 31, 2021 and 2020, the US entities' 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 and SAM US. 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 $120 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, 2021, the Company had $49.8 million or 14% (December 31, 2020 - $44.1 million or 12%) of its total assets in cash and cash equivalents. In addition, approximately $26 million or 32% (December 31, 2020 - $35.1 million or 38%) 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, 2021, the Company had $7.7 million in co-investment commitments from the lending segment (December 31, 2020 - $4.6 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, 2021 (in thousands $): Contractual obligations Carrying Less 1-3 3-5 More Lease obligation 7,081 2,373 3,176 1,532 — Compensation payable 15,751 15,751 — — — Operating accounts payable 6,989 6,989 — — — Loan facility 29,769 — — 29,769 — 59,590 25,113 3,176 31,301 — 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: drawing on the line of credit; liquidating investments and co-investments and/or issuing common shares. Concentration risk The majority of the Company's AUM, as well as its investments and co-investments 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, 2021
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; • 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 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, 2021 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 62,983 24,613 25,729 43,963 2,698 4,659 164,645 Total expenses 20,641 21,037 18,002 33,159 21,250 5,366 119,455 Income (loss) before income taxes 42,342 3,576 7,727 10,804 (18,552) (707) 45,190 Adjusted base EBITDA 46,449 11,387 8,921 12,596 (16,071) 791 64,073 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 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, 2021 Dec. 31, 2020 Canada 146,616 95,962 United States 18,029 25,814 164,645 121,776

Loan facility

Loan facility	12 Months Ended
	Dec. 31, 2021
Financial Instruments [Abstract]
Loan facility	Loan facility As at December 31, 2021, the Company had $29.8 million (December 31, 2020 - $17 million) outstanding on its credit facility, all of which is due on December 14, 2025. The increase was primarily to fund the cost of the Tocqueville and UPC acquisition . The Company has access to a credit facility of $120 million with a major Canadian schedule I chartered bank. Amounts under the facility may be borrowed through prime rate loans or bankers’ acceptances. Amounts may also be borrowed in U.S. dollars through base rate loans. On November 4, 2021, the Company upsized its credit facility from $70 million for general corporate purposes. As at December 31, 2021, 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, $120 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, 2021
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 investment and co-investment portfolio of the Company. As at December 31, 2021, the Company had $7.7 million in co-investment commitments from the lending segment, all due within one year (December 31, 2020 - $4.6 million).

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2021
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. 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 in the Other expenses (credits) line of the consolidated statements of operations and comprehensive income . 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) SGRIL Holdings Inc. ("SGRIL Holdings"); (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 "US entities" in these financial statements; • Sprott Resource Streaming and Royalty Corporation and Sprott Private Resource Streaming and Royalty (Management) Corp ("SRSR"); • 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 funds, 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 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 gain (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.
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 with 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 co-investment income from lending LP units and interest income from brokerage client accounts, 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 transferred, and include an estimate for contingent consideration where applicable. Intangible assets with finite lives are amortized over their useful economic life and assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value is greater than its recoverable amount. 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 is greater than its recoverable amount. 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.
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 sheets 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.
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 sheets 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 sheets. 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 incurred.
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. The recoverable amounts associated with goodwill and intangibles involve estimates and assumptions, including those with respect to future cash inflows and outflows, discount rates and asset lives, and are determined using the value-in-use method. These estimates require significant judgment regarding market growth rates, discount 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.
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 U.S. entities, which uses the U.S. dollar as their functional currency. Accordingly, the assets and liabilities of U.S. entities 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 U.S. entities

Short-term investments (Tables)

Short-term investments (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Public equities and share purchase warrants FVTPL 4,113 6,751 Fixed income securities FVTPL — 731 Private holdings FVTPL 2,020 1,993 Total short-term investments 6,133 9,475

Co-investments (Tables)

Co-investments (Tables)	12 Months Ended
	Dec. 31, 2021
Subclassifications of assets, liabilities and equities [abstract]
Co-investments	Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2021 Dec. 31, 2020 Co-investments in funds FVTPL 68,765 82,467 Total co-investments 68,765 82,467

Other assets, income, expense_2

Other assets, income, expenses and non-controlling interest (Tables)	12 Months Ended
	Dec. 31, 2021
Interest in Other Entities [Abstract]
Components of other assets	Consist of the following (in thousands $): Dec. 31, 2021 Dec. 31, 2020 Digital gold strategies (1) 7,060 11,518 Fund recoveries and investment receivables 2,509 6,043 Assets attributable to non-controlling interests 3,780 3,518 Prepaid expenses 3,637 2,316 Other (2) 2,240 1,919 Total other assets 19,226 25,314 (1) Digital gold strategies are financial instruments classified at FVTPL. Gains and losses are included in the Gain (loss) on investments line in the consolidated statements of operations and comprehensive income. (2) Includes miscellaneous third-party receivables.
Components of other income	Other income Consist of the following (in thousands $): For the years ended Dec. 31, 2021 Dec. 31, 2020 Investment income (1) 1,490 1,502 Income attributable to non-controlling interest 93 759 Total other income 1,583 2,261 (1) Primarily includes miscellaneous investment fund income, syndication and trailer fee income.
Components of other expenses	Other expenses (credits) Consist of the following (in thousands $): For the years ended Dec. 31, 2021 Dec. 31, 2020 Costs related to energy assets — 798 Foreign exchange (gain) loss 470 772 Increase in contingent consideration related to the Tocqueville transaction (1) 4,449 4,717 Other (2) 7,660 4,207 Total other expenses (credits) 12,579 10,494 (1) During the first quarter, the contingent consideration was successfully renegotiated, re-measured and settled as part of the previously announced amendment to the purchase agreement. (2) Includes net income attributable to non-controlling interest of $93 thousand for the year ended December 31, 2021 (year ended December 31, 2020 - $759 thousand) as well as non-recurring professional fees, transaction and new fund start-up costs. During the year, the Company also made a $2.6 million payment to the former owners of Central Fund of Canada Limited to cover legacy transaction costs from the 2018 acquisition
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 (in thousands $): Dec. 31, 2021 Dec. 31, 2020 Assets 3,780 3,518 Liabilities - current (1) (10) (640) Liabilities - long-term (1) (3,770) (2,878) (1) Current and long-term liabilities attributable to non-controlling interest are 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, 2021
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, 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 Additions — 95 101 497 2,937 3,630 Disposals — — — (196) (372) (568) Net exchange differences 54 10 5 4 84 157 At Dec. 31, 2021 7,573 2,981 3,036 6,026 12,890 32,506 Accumulated amortization 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) Depreciation charge for the year — (101) (93) (1,077) (2,351) (3,622) Disposals — — — 196 168 364 Net exchange differences — 18 (15) 31 (127) (93) At Dec. 31, 2021 — (2,579) (2,882) (4,570) (5,996) (16,027) Net book value at: Dec. 31, 2020 7,519 380 156 2,001 6,555 16,611 Dec. 31, 2021 7,573 402 154 1,456 6,894 16,479

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2021
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, 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 Additions — 13,559 — 13,559 Net exchange differences — 1,383 81 1,464 At Dec. 31, 2021 132,251 160,973 36,587 329,811 Accumulated amortization 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) Amortization charge for the period — — (930) (930) At Dec. 31, 2021 (113,102) — (27,499) (140,601) Net book value at: Dec. 31, 2020 19,149 146,031 9,937 175,117 Dec. 31, 2021 19,149 160,973 9,088 189,210

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2021
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, 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 cancelled under normal course issuer bid (112,343) (2,024) Issuance of share capital on conversion of RSUs 103,269 2,231 Issuance of share capital under dividend reinvestment program 5,501 145 At Dec. 31, 2020 24,789,365 417,758 Shares acquired for equity incentive plan (237,172) (10,201) Issuance of share capital to settle contingent consideration 93,023 3,000 Shares released on vesting of equity incentive plan 237,626 4,382 Issuance of share capital on conversion of RSUs 105,291 2,341 Issuance of share capital under dividend reinvestment program 3,487 145 At Dec. 31, 2021 24,991,620 417,425 Contributed surplus consists of: stock option expense; earn-out shares expense; equity incentive plans' expense; and additional purchase consideration. Stated value At Dec. 31, 2019 43,160 Stock-based compensation 4,517 Issuance of share capital on conversion of RSUs (2,231) Share-based contingent consideration related to the Tocqueville acquisition 4,879 Released on exercise of stock option plan (2,655) Released on vesting of common shares for equity incentive plan (4,361) At Dec. 31, 2020 43,309 Issuance of share capital to settle contingent consideration (4,879) Shares released on vesting of equity incentive plan (4,382) Stock-based compensation 3,650 Issuance of share capital on conversion of RSUs (2,341) At Dec. 31, 2021 35,357
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, 2019 327,500 25.70 Options exercisable, Dec. 31, 2019 257,500 26.00 Options outstanding, Dec. 31, 2020 162,500 23.61 Options exercisable, Dec. 31, 2020 162,500 23.61 Options outstanding, Dec. 31, 2021 162,500 23.61 Options exercisable, Dec. 31, 2021 162,500 23.61
Schedule of outstanding and exercisable options	Options outstanding and exercisable as at December 31, 2021 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 4.1 150,000 27.30 12,500 4.4 12,500 23.30 to 27.30 162,500 4.1 162,500
Schedule of outstanding and exercisable options	Options outstanding and exercisable as at December 31, 2021 are as follows: Exercise price (CAD $) Number of Weighted average remaining contractual life Number of 23.30 150,000 4.1 150,000 27.30 12,500 4.4 12,500 23.30 to 27.30 162,500 4.1 162,500
Schedule of outstanding common shares under Equity incentive plan	Number of 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 Acquired 237,172 Released on vesting (237,626) Unvested common shares held by the Trust, Dec. 31, 2021 774,405
Breakdown of share-based compensation expense and corresponding increase to contributed surplus	Of the $76.7 million compensation expense for the year ended December 31, 2021 (December 31, 2020 - $57.6 million), $3.7 million (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, 2021 Dec. 31, 2020 Stock option plan — 10 EIP 3,650 4,507 Total stock-based compensation 3,650 4,517
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, 2021 Dec. 31, 2020 Numerator (in thousands $): Net income - basic and diluted 33,185 26,978 Denominator (Number of shares in thousands): Weighted average number of common shares 25,695 25,464 Weighted average number of unvested shares purchased by the Trust (817) (976) Weighted average number of common shares - basic 24,878 24,488 Weighted average number of dilutive stock options 163 163 Weighted average number of unvested shares under EIP 867 1,132 Weighted average number of common shares - diluted 25,908 25,783 Net income per common share Basic 1.33 1.10 Diluted 1.28 1.05

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 Dec. 31, 2020 Current income tax expense Based on taxable income of the current period 7,835 2,901 Adjustments in respect to previous years 136 102 Total current income tax expense 7,971 3,003 Deferred income tax expense Origination and reversal of temporary differences 5,010 5,373 Adjustments in respect to previous years (976) (692) Total deferred income tax expense 4,034 4,681 Income tax expense reported in the consolidated statements of operations 12,005 7,684
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, 2021 Dec. 31, 2020 Income before income taxes 45,190 34,662 Tax calculated at domestic tax rates applicable to profits in the respective countries 12,079 9,324 Tax effects of: Non-deductible stock-based compensation 221 356 Non-taxable capital (gains) and losses 161 841 Intangibles 78 (458) Adjustments in respect of previous periods (840) (590) Temporary difference not currently utilized and (not benefited previously) 87 (1,563) Rate differences and other 219 (226) Tax charge 12,005 7,684 The weighted average statutory tax rate was 26.7% (December 31, 2020 - 26.9%). The Company has $2 million of capital tax losses from prior years that will begin to expire in 2024. 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, 2021 Dec. 31, 2020 Recognized in income Exchange rate differences Dec. 31, 2021 Deferred income tax assets Stock-based compensation 3,821 333 23 4,177 Non-capital and capital losses 2,270 (1,240) 31 1,061 Other 435 140 2 577 Total deferred income tax assets 6,526 (767) 56 5,815 Deferred income tax liabilities Fund management contracts 9,446 4,477 18 13,941 Unrealized gains (losses) 118 (1,109) 13 (978) Other (16) (101) (3) (120) Total deferred income tax liabilities 9,548 3,267 28 12,843 Net deferred income tax assets (liabilities) (1) (3,022) (4,034) 28 (7,028) 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)

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 and December 31, 2020 (in thousands $). Short-term investments Dec. 31, 2021 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 1,790 2,188 135 4,113 Private holdings — — 2,020 2,020 Total net recurring fair value measurements 1,790 2,188 2,155 6,133 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 Co-investments Dec. 31, 2021 Level 1 Level 2 Level 3 Total Co-investments in funds — 68,765 — 68,765 Total net recurring fair value measurements — 68,765 — 68,765 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 Other assets Dec. 31, 2021 Level 1 Level 2 Level 3 Total Digital gold strategies — — 7,060 7,060 Total net recurring fair value measurements — — 7,060 7,060 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 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, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Share purchase warrants 271 61 (3) (194) 135 Private holdings 1,993 — — 27 2,020 2,264 61 (3) (167) 2,155 Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2020 Private holdings 1,864 — (15) 144 1,993 Fixed income securities 766 (783) — 17 — Share purchase warrants — 271 — — 271 2,630 (512) (15) 161 2,264 Co-investments Changes in the fair value of Level 3 measurements - Dec. 31, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Co-investments in funds 6,441 (6,441) — — — 6,441 (6,441) — — — Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales 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 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2021 Dec. 31, 2020 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2021 Digital gold strategies 11,518 100 (2,000) (2,558) 7,060 11,518 100 (2,000) (2,558) 7,060 Changes in the fair value of Level 3 measurements - Dec. 31, 2020 Dec. 31, 2019 Purchases and reclassifications Sales 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
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, 2021
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, 2021 Dec. 31, 2020 Fixed salaries and benefits 3,932 3,247 Variable incentive-based compensation 11,991 8,715 Share-based compensation 738 1,817 16,661 13,779

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2021
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends Declared	The following dividends were declared by the Company during the year ended December 31, 2021: Record date Payment Date Cash dividend Total dividend amount (in thousands $) March 8, 2021 - Regular dividend Q4 2020 March 23, 2021 $0.25 6,426 May 17, 2021 - Regular dividend Q1 2021 June 1, 2021 $0.25 6,426 August 16, 2021 - Regular dividend Q2 2021 August 31, 2021 $0.25 6,426 November 15, 2021 - Regular dividend Q3 2021 November 30, 2021 $0.25 6,429 Dividends (1) 25,707 (1) Subsequent to year end, on February 24, 2022, a regular dividend of $0.25 per common share was declared for the quarter ended December 31, 2021. This dividend is payable on March 22, 2022 to shareholders of record at the close of business on March 7, 2022.

Risk management activities (Tab

Risk management activities (Tables)	12 Months Ended
	Dec. 31, 2021
Financial Instruments [Abstract]
Remaining contractual maturities of financial liabilities	The following are the remaining contractual maturities of financial liabilities as at December 31, 2021 (in thousands $): Contractual obligations Carrying Less 1-3 3-5 More Lease obligation 7,081 2,373 3,176 1,532 — Compensation payable 15,751 15,751 — — — Operating accounts payable 6,989 6,989 — — — Loan facility 29,769 — — 29,769 — 59,590 25,113 3,176 31,301 —

Segmented information (Tables)

Segmented information (Tables)	12 Months Ended
	Dec. 31, 2021
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, 2021 Exchange listed products Managed Lending Brokerage Corporate Consolidation, elimination and all other segments Consolidated Total revenue 62,983 24,613 25,729 43,963 2,698 4,659 164,645 Total expenses 20,641 21,037 18,002 33,159 21,250 5,366 119,455 Income (loss) before income taxes 42,342 3,576 7,727 10,804 (18,552) (707) 45,190 Adjusted base EBITDA 46,449 11,387 8,921 12,596 (16,071) 791 64,073 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
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, 2021 Dec. 31, 2020 Canada 146,616 95,962 United States 18,029 25,814 164,645 121,776

Summary of significant accoun_3

Summary of significant accounting policies (Details)	12 Months Ended
	Dec. 31, 2021
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, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Public equities and share purchase warrants	$ 4,113	$ 6,751
Fixed income securities	0	731
Private holdings	2,020	1,993
Total short-term investments	$ 6,133	$ 9,475

Co-Investments (Details)

Co-Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Subclassifications of assets, liabilities and equities [abstract]
Co-investments in funds	$ 68,765	$ 82,467
Total co-investments	$ 68,765	$ 82,467

Other assets, income, expense_3

Other assets, income, expenses and non-controlling interest - Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Interest in Other Entities [Abstract]
Digital gold strategies	$ 7,060	$ 11,518
Fund recoveries and investment receivables	2,509	6,043
Assets attributable to non-controlling interests	3,780	3,518
Prepaid expenses	3,637	2,316
Other	2,240	1,919
Total other assets	$ 19,226	$ 25,314

Other assets, income, expense_4

Other assets, income, expenses and non-controlling interest - Other income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest in Other Entities [Abstract]
Investment income	$ 1,490	$ 1,502
Income attributable to non-controlling interest	93	759
Total other income	$ 1,583	$ 2,261

Other assets, income, expense_5

Other assets, income, expenses and non-controlling interest - Other expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest in Other Entities [Abstract]
Costs related to energy assets	$ 0	$ 798
Foreign exchange (gain) loss	470	772
Increase in contingent consideration related to the Tocqueville transaction	4,449	4,717
Other	7,660	4,207
Total other expenses (credits)	12,579	10,494
Net income attributable to non-controlling interest	93	$ 759
Legacy transaction costs	$ 2,600

Other assets, income, expense_6

Other assets, income, expenses and non-controlling interest - Non-controlling interests (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of associates [line items]
Assets	$ 365,873	$ 377,348
Liabilities - current	(28,118)	(47,241)
Non-controlling interests
Disclosure of associates [line items]
Assets	3,780	3,518
Liabilities - current	(10)	(640)
Liabilities - long-term	$ (3,770)	$ (2,878)

Property and equipment (Details

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 16,611
Property, plant and equipment at end of period	16,479	$ 16,611
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	29,287	25,401
Additions / Depreciation charge for the year	3,630	3,121
Disposals	(568)
Net exchange differences	157	765
Property, plant and equipment at end of period	32,506	29,287
Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(12,676)	(9,171)
Additions / Depreciation charge for the year	(3,622)	(3,183)
Disposals	364
Net exchange differences	(93)	(322)
Property, plant and equipment at end of period	(16,027)	(12,676)
Artwork
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,519
Property, plant and equipment at end of period	7,573	7,519
Artwork | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,519	7,352
Additions / Depreciation charge for the year	0	0
Disposals	0
Net exchange differences	54	167
Property, plant and equipment at end of period	7,573	7,519
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
Disposals	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	380
Property, plant and equipment at end of period	402	380
Furniture and fixtures | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,876	2,527
Additions / Depreciation charge for the year	95	279
Disposals	0
Net exchange differences	10	70
Property, plant and equipment at end of period	2,981	2,876
Furniture and fixtures | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,496)	(2,402)
Additions / Depreciation charge for the year	(101)	(68)
Disposals	0
Net exchange differences	18	(26)
Property, plant and equipment at end of period	(2,579)	(2,496)
Computer hardware and software
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	156
Property, plant and equipment at end of period	154	156
Computer hardware and software | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,930	2,706
Additions / Depreciation charge for the year	101	153
Disposals	0
Net exchange differences	5	71
Property, plant and equipment at end of period	3,036	2,930
Computer hardware and software | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,774)	(2,510)
Additions / Depreciation charge for the year	(93)	(205)
Disposals	0
Net exchange differences	(15)	(59)
Property, plant and equipment at end of period	(2,882)	(2,774)
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,001
Property, plant and equipment at end of period	1,456	2,001
Leasehold improvements | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	5,721	5,332
Additions / Depreciation charge for the year	497	254
Disposals	(196)
Net exchange differences	4	135
Property, plant and equipment at end of period	6,026	5,721
Leasehold improvements | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(3,720)	(2,617)
Additions / Depreciation charge for the year	(1,077)	(970)
Disposals	196
Net exchange differences	31	(133)
Property, plant and equipment at end of period	(4,570)	(3,720)
Right of use assets
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	6,555
Property, plant and equipment at end of period	6,894	6,555
Right of use assets | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	10,241	7,484
Additions / Depreciation charge for the year	2,937	2,435
Disposals	(372)
Net exchange differences	84	322
Property, plant and equipment at end of period	12,890	10,241
Right of use assets | Accumulated amortization
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(3,686)	(1,642)
Additions / Depreciation charge for the year	(2,351)	(1,940)
Disposals	168
Net exchange differences	(127)	(104)
Property, plant and equipment at end of period	$ (5,996)	$ (3,686)

Goodwill and intangible asset_2

Goodwill and intangible assets - Reconciliation of intangible assets and goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	$ 175,117
Intangible assets and goodwill at end of period	189,210	$ 175,117
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	314,788	272,029
Additions and amortization charge for the period	13,559	36,107
Net exchange differences	1,464	6,652
Intangible assets and goodwill at end of period	329,811	314,788
Accumulated amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(139,671)	(138,802)
Additions and amortization charge for the period	(930)	(869)
Intangible assets and goodwill at end of period	(140,601)	(139,671)
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 amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(113,102)	(113,102)
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	146,031
Intangible assets and goodwill at end of period	160,973	146,031
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	146,031	103,470
Additions and amortization charge for the period	13,559	36,107
Net exchange differences	1,383	6,454
Intangible assets and goodwill at end of period	160,973	146,031
Fund management contracts (indefinite life) | Accumulated amortization
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
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	9,937
Intangible assets and goodwill at end of period	9,088	9,937
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	36,506	36,308
Additions and amortization charge for the period	0	0
Net exchange differences	81	198
Intangible assets and goodwill at end of period	36,587	36,506
Fund management contracts (finite life) | Accumulated amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(26,569)	(25,700)
Additions and amortization charge for the period	(930)	(869)
Intangible assets and goodwill at end of period	$ (27,499)	$ (26,569)

Goodwill and intangible asset_3

Goodwill and intangible assets - Narrative (Details)	12 Months Ended
	Dec. 31, 2021USD ($)cash_generating_unit	Dec. 31, 2020USD ($)
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
Goodwill impairment	0
Intangible assets and goodwill	189,210,000	175,117,000
Fund management contracts (indefinite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	160,973,000	146,031,000
Intangible asset impairment	0
Fund management contracts (finite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	9,088,000	$ 9,937,000
Intangible asset impairment	$ 0

Shareholders' equity - Capital

Shareholders' equity - Capital stock and contributed surplus (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)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		$ 290,983	$ 271,630
Shares acquired for equity incentive plan		(10,201)	(2,514)
Issuance of share capital to settle contingent consideration		(1,879)	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 cancelled under normal course issuer bid			(2,024)
Issuance of share capital on conversion of RSUs		0	0
Issuance of share capital under dividend reinvestment program		(25,562)	(23,095)
Increase (decrease) through acquisition of subsidiary, equity			4,879
Stock-based compensation		3,650	4,517
Equity at end of period		$ 291,219	$ 290,983
Issued capital
Reconciliation of number of shares outstanding [abstract]
Number of shares outstanding at beginning of period (shares) | shares	[1]	24,789,365	24,417,639
Shares acquired for equity incentive plan (shares) | shares	[1]	(237,172)	(128,304)
Issuance of share capital on purchase of management contracts (shares) | shares	[1]	93,023	104,720
Shares released on vesting of equity incentive plan (shares) | shares	[1]	237,626	248,883
Issuance of share capital on exercise of stock options (shares) | shares	[1]		150,000
Shares acquired and canceled under normal course issuer bid (shares) | shares	[1]		(112,343)
Issuance of share capital on conversion of RSUs and other share based considerations (shares) | shares	[1]	105,291	103,269
Issuance of share capital under dividend reinvestment program (shares) | shares	[1]	3,487	5,501
Number of shares outstanding at end of period (shares) | shares	[1]	24,991,620	24,789,365
Changes in equity [abstract]
Equity at beginning of period		$ 417,758	$ 407,900
Shares acquired for equity incentive plan		(10,201)	(2,514)
Issuance of share capital to settle contingent consideration		3,000	2,500
Shares released on vesting of equity incentive plan		4,382	4,361
Issuance of share capital on exercise of stock options			5,159
Shares acquired and cancelled under normal course issuer bid			(2,024)
Issuance of share capital on conversion of RSUs		2,341	2,231
Issuance of share capital under dividend reinvestment program		145	145
Equity at end of period		417,425	417,758
Contributed surplus
Changes in equity [abstract]
Equity at beginning of period		43,309	43,160
Issuance of share capital to settle contingent consideration		(4,879)	4,879
Shares released on vesting of equity incentive plan		(4,382)	(4,361)
Released on exercise of stock option plan			(2,655)
Issuance of share capital on exercise of stock options			(2,655)
Issuance of share capital on conversion of RSUs		(2,341)	(2,231)
Increase (decrease) through acquisition of subsidiary, equity		(4,879)	4,879
Stock-based compensation		3,650	4,517
Equity at end of period		$ 35,357	$ 43,309
[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, 2021shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / 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 issued (shares)	0	0
Number of options exercised (shares)	0	150,000
Number of options outstanding, beginning balance (shares)	162,500	327,500
Number of options exercisable (shares)	162,500	162,500	257,500
Number of options outstanding, ending balance (shares)	162,500	162,500
Weighted average exercise price of options outstanding, beginning of year (in CAD $ per share) | $ / shares	$ 23.61	$ 25.70
Weighted average exercise price of options exercisable (in CAD $ per share) | $ / shares	23.61	23.61	$ 26
Weighted average exercise price of options outstanding, end of year (in CAD $ per share) | $ / shares	$ 23.61	$ 23.61
Number of options outstanding (shares)	162,500	162,500	327,500
Weighted average remaining contractual life of outstanding share options	4 years 1 month 6 days
Number of options exercisable (shares)	162,500	162,500	257,500
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
Weighted average remaining contractual life of outstanding share options	4 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
Weighted average remaining contractual life of outstanding share options	4 years 4 months 24 days
Number of options exercisable (shares)	12,500

Shareholders' equity - Equity i

Shareholders' equity - Equity incentive plan (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
RSU's
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSU's granted (shares)	1,182	104,858
Number of shares acquired by The Trust	237,172	128,304
Acquired (shares)	237,172	128,304
Trust acquired shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares acquired by The Trust	237,172	128,304
Number of shares held by the Trust at the beginning of the period (shares)	774,859	895,438
Acquired (shares)	237,172	128,304
Released on vesting (shares)	(237,626)	(248,883)
Number of shares held by the Trust at the end of the period (shares)	774,405	774,859

Shareholders' equity - Share-ba

Shareholders' equity - Share-based compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Compensation expense	$ 76,721	$ 57,589
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	3,650	4,517
Stock option plan
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	0	10
EIP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense	$ 3,650	$ 4,507

Shareholders' equity - Basic an

Shareholders' equity - Basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Numerator (in thousands $):
Net income - basic	$ 33,185	$ 26,978
Net income - diluted	$ 33,185	$ 26,978
Denominator (Number of shares in thousands):
Weighted average number of common shares	25,695	25,464
Weighted average number of unvested shares purchased by the Trust	(817)	(976)
Weighted average number of common shares - basic	24,878	24,488
Weighted average number of dilutive stock options	163	163
Weighted average number of unvested shares under EIP	867	1,132
Weighted average number of common shares - diluted	25,908	25,783
Net income per common share
Basic net income per common share (in USD per share)	$ 1.33	$ 1.10
Diluted net income per common share (in USD per share)	$ 1.28	$ 1.05

Income taxes - Major components

Income taxes - Major components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Abstract]
Based on taxable income of the current period	$ 7,835	$ 2,901
Adjustments in respect to previous years	136	102
Total current income tax expense	7,971	3,003
Origination and reversal of temporary differences	5,010	5,373
Adjustments in respect to previous years	(976)	(692)
Total deferred income tax expense	4,034	4,681
Income tax expense reported in the consolidated statements of operations	$ 12,005	$ 7,684

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, 2021	Dec. 31, 2020
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income taxes	$ 45,190	$ 34,662
Tax calculated at domestic tax rates applicable to profits in the respective countries	12,079	9,324
Non-deductible stock-based compensation	221	356
Non-taxable capital (gains) and losses	161	841
Intangibles	78	(458)
Adjustments in respect of previous periods	(840)	(590)
Temporary difference not currently utilized and (not benefited previously)	87	(1,563)
Rate differences and other	219	(226)
Income tax expense reported in the consolidated statements of operations	$ 12,005	$ 7,684
Weighted average statutory tax rate (percent)	26.70%	26.90%
Unused tax losses for which no deferred tax asset recognised	$ 2,000

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, 2021	Dec. 31, 2020
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	$ 6,526	$ 7,796
Deferred tax liabilities	9,548	5,939
Deferred tax liability (asset)	(3,022)	1,857
Recognized in income	(767)	(1,333)
Recognized in income	3,267	3,348
Recognized in income	(4,034)	(4,681)
Exchange rate differences	56	63
Exchange rate differences	28	261
Exchange rate differences	28	(198)
Deferred tax assets	5,815	6,526
Deferred tax liabilities	12,843	9,548
Deferred tax liability (asset)	(7,028)	(3,022)
Deferred tax assets net by legal jurisdiction	1,459	1,729
Deferred tax liabilities net by legal jurisdiction	8,487	4,751
Stock-based compensation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	3,821	4,117
Recognized in income	333	(368)
Exchange rate differences	23	72
Deferred tax assets	4,177	3,821
Non-capital and capital losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	2,270	3,432
Recognized in income	(1,240)	(1,195)
Exchange rate differences	31	33
Deferred tax assets	1,061	2,270
Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	435	247
Deferred tax liabilities	(16)	40
Recognized in income	140	230
Recognized in income	(101)	(9)
Exchange rate differences	2	(42)
Exchange rate differences	(3)	(47)
Deferred tax assets	577	435
Deferred tax liabilities	(120)	(16)
Fund management contracts
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	9,446	6,809
Recognized in income	4,477	2,360
Exchange rate differences	18	277
Deferred tax liabilities	13,941	9,446
Unrealized gains (losses)
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	118	(910)
Recognized in income	(1,109)	997
Exchange rate differences	13	31
Deferred tax liabilities	$ (978)	$ 118

Fair value measurements - Recur

Fair value measurements - Recurring fair value measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Disclosure of fair value measurement of assets [line items]
Assets	$ 365,873	$ 377,348
Recurring fair value measurements | Current investments
Disclosure of fair value measurement of assets [line items]
Assets	6,133	9,475
Recurring fair value measurements | Current investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	1,790	5,101
Recurring fair value measurements | Current investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	2,188	2,110
Recurring fair value measurements | Current investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	2,155	2,264
Recurring fair value measurements | Public equities and share purchase warrants
Disclosure of fair value measurement of assets [line items]
Assets	4,113	6,751
Recurring fair value measurements | Public equities and share purchase warrants | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	1,790	5,101
Recurring fair value measurements | Public equities and share purchase warrants | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	2,188	1,379
Recurring fair value measurements | Public equities and share purchase warrants | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	135	271
Recurring fair value measurements | Private holdings
Disclosure of fair value measurement of assets [line items]
Assets	2,020	1,993
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	2,020	1,993
Recurring fair value measurements | Fixed income securities
Disclosure of fair value measurement of assets [line items]
Assets		731
Recurring fair value measurements | Fixed income securities | Level 1
Disclosure of fair value measurement of assets [line items]
Assets		0
Recurring fair value measurements | Fixed income securities | Level 2
Disclosure of fair value measurement of assets [line items]
Assets		731
Recurring fair value measurements | Fixed income securities | Level 3
Disclosure of fair value measurement of assets [line items]
Assets		0
Recurring fair value measurements | Total Co-investments
Disclosure of fair value measurement of assets [line items]
Assets	68,765	82,467
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	68,765	76,026
Recurring fair value measurements | Total Co-investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	0	6,441
Recurring fair value measurements | Co-investments in funds
Disclosure of fair value measurement of assets [line items]
Assets	68,765	82,467
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	68,765	76,026
Recurring fair value measurements | Co-investments in funds | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	0	6,441
Recurring fair value measurements | Total Other assets
Disclosure of fair value measurement of assets [line items]
Assets	7,060	11,518
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	7,060	11,518
Recurring fair value measurements | Digital gold strategies
Disclosure of fair value measurement of assets [line items]
Assets	7,060
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	$ 7,060	$ 11,518

Fair value measurements - Chang

Fair value measurements - Changes in fair value of Level 3 measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
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	$ 0	$ 500
Sale of investments	35,843	19,728
Gain (loss) on investments	(1,883)	5,109
Transfers out of Level 3 into Level 1 of fair value hierarchy, assets held at end of reporting period	0	0
Transfers out of Level 3 into Level 2 of fair value hierarchy, assets held at end of reporting period	$ 6,500	$ 800
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	$ 500	$ 1,000
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss	500	1,000
Level 3
Changes in fair value measurement, assets [abstract]
Purchases of Level 3 investments	100	2,100
Sales, fair value measurement, assets	2,000	0
Sale of investments	6,500
Gain (loss) on investments	4,500
Recurring fair value measurements | Current investments | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	2,264	2,630
Purchases and reclassifications	61	(512)
Sales	(3)	(15)
Net unrealized gains (losses) included in net income	(167)	161
Financial assets at end of period	2,155	2,264
Purchases and reclassifications	61	(512)
Recurring fair value measurements | Share purchase warrants | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	271	0
Purchases and reclassifications	61	271
Sales	(3)	0
Net unrealized gains (losses) included in net income	(194)	0
Financial assets at end of period	135	271
Purchases and reclassifications	61	271
Recurring fair value measurements | Private holdings | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	1,993	1,864
Purchases and reclassifications	0	0
Sales	0	(15)
Net unrealized gains (losses) included in net income	27	144
Financial assets at end of period	2,020	1,993
Purchases and reclassifications	0	0
Recurring fair value measurements | Fixed income securities | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	0	766
Purchases and reclassifications		(783)
Sales		0
Net unrealized gains (losses) included in net income		17
Financial assets at end of period		0
Purchases and reclassifications		(783)
Recurring fair value measurements | Total Co-investments | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	6,441	4,530
Purchases and reclassifications	(6,441)	1,628
Sales	0	0
Net unrealized gains (losses) included in net income	0	283
Financial assets at end of period	0	6,441
Purchases and reclassifications	(6,441)	1,628
Recurring fair value measurements | Co-investments in funds | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	6,441	4,530
Purchases and reclassifications	(6,441)	1,628
Sales	0	0
Net unrealized gains (losses) included in net income	0	283
Financial assets at end of period	0	6,441
Purchases and reclassifications	(6,441)	1,628
Recurring fair value measurements | Total Other assets | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	11,518	18,913
Purchases and reclassifications	100	500
Sales	(2,000)	0
Net unrealized gains (losses) included in net income	(2,558)	(7,895)
Financial assets at end of period	7,060	11,518
Purchases and reclassifications	100	500
Recurring fair value measurements | Digital gold strategies | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	11,518	18,913
Purchases and reclassifications	100	500
Sales	(2,000)	0
Net unrealized gains (losses) included in net income	(2,558)	(7,895)
Financial assets at end of period	7,060	11,518
Purchases and reclassifications	$ 100	$ 500

Related party transactions (Det

Related party transactions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)shares	Dec. 31, 2020USD ($)shares
Disclosure of transactions between related parties [line items]
Fixed salaries and benefits	$ 3,932	$ 3,247
Variable incentive-based compensation	11,991	8,715
Share-based compensation	738	1,817
Remuneration of directors and other key management personnel	$ 16,661	$ 13,779
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	10,592	3,559

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 15, 2021	Aug. 16, 2021	Mar. 17, 2021	Mar. 08, 2021	Dec. 31, 2021
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends paid, ordinary shares (in USD per share)	$ 0.25	$ 0.25	$ 0.25	$ 0.25
Total dividend amount	$ 6,429	$ 6,426	$ 6,426	$ 6,426	$ 25,707
Regular dividends declared (in USD per share)					$ 0.25

Risk management activities (Det

Risk management activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Nov. 03, 2021	Dec. 31, 2019
Disclosure of detailed information about financial instruments [line items]
Fixed income securities	$ 0	$ 731
Assets	365,873	377,348
Cash	44,087	43,901
Other assets	19,226	25,314
Cash and cash equivalents	49,805	44,106		$ 54,748
Proprietary investments	6,133	9,475
Co-investment commitments	7,700	4,600
Co-investment commitments	68,765	$ 82,467
Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity under borrowing facilities	$ 120,000		$ 70,000
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	$ 4,100	$ 5,200
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	$ 4,100	$ 4,800
Assets	59,100	74,100
Cash	13,000	12,200
Accounts receivable	6,000	8,100
Other assets	3,400	1,500
Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	49,800	44,100
Proprietary investments	26,000	35,100
Liquidity risk | Lending
Disclosure of detailed information about financial instruments [line items]
Co-investment commitments	$ 7,700	$ 4,600
Liquidity risk | Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Risk Exposure Associated With Financial Instruments, Proprietary Investments, Percentage	14.00%	12.00%
Liquidity risk | Current investments
Disclosure of detailed information about financial instruments [line items]
Risk Exposure Associated With Financial Instruments, Proprietary Investments, Percentage	32.00%	38.00%
Liquidity risk | Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity under borrowing facilities	$ 120,000

Risk management activities - Re

Risk management activities - Remaining contractual maturities of financial liabilities (Details) $ in Thousands	Dec. 31, 2021USD ($)
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	$ 7,081
Compensation payable	15,751
Operating accounts payable	6,989
Loan facility	29,769
Non-derivative financial liabilities, undiscounted cash flows	59,590
Less than 1 year
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	2,373
Compensation payable	15,751
Operating accounts payable	6,989
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	25,113
1-3 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	3,176
Compensation payable	0
Operating accounts payable	0
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	3,176
3-5 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Lease obligation	1,532
Compensation payable	0
Operating accounts payable	0
Loan facility	29,769
Non-derivative financial liabilities, undiscounted cash flows	31,301
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
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	$ 0

Segmented information (Details)

Segmented information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Disclosure of operating segments [line items]
Number of reportable segments | segment	5
Total revenue	$ 164,645	$ 121,776
Total expenses	119,455	87,114
Income (loss) before income taxes	45,190	34,662
Adjusted base EBITDA	64,073	44,166
Reportable segments | Exchange listed products
Disclosure of operating segments [line items]
Total revenue	62,983	37,680
Total expenses	20,641	9,151
Income (loss) before income taxes	42,342	28,529
Adjusted base EBITDA	46,449	30,563
Reportable segments | Managed equities
Disclosure of operating segments [line items]
Total revenue	24,613	41,354
Total expenses	21,037	22,686
Income (loss) before income taxes	3,576	18,668
Adjusted base EBITDA	11,387	10,762
Reportable segments | Lending
Disclosure of operating segments [line items]
Total revenue	25,729	15,509
Total expenses	18,002	8,469
Income (loss) before income taxes	7,727	7,040
Adjusted base EBITDA	8,921	7,272
Reportable segments | Brokerage
Disclosure of operating segments [line items]
Total revenue	43,963	30,683
Total expenses	33,159	23,454
Income (loss) before income taxes	10,804	7,229
Adjusted base EBITDA	12,596	8,052
Reportable segments | Corporate
Disclosure of operating segments [line items]
Total revenue	2,698	(7,214)
Total expenses	21,250	18,566
Income (loss) before income taxes	(18,552)	(25,780)
Adjusted base EBITDA	(16,071)	(13,722)
Consolidation, elimination and all other segments
Disclosure of operating segments [line items]
Total revenue	4,659	3,764
Total expenses	5,366	4,788
Income (loss) before income taxes	(707)	(1,024)
Adjusted base EBITDA	$ 791	$ 1,239

Segmented information - Revenue

Segmented information - Revenue by geographic location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Canada
Disclosure of geographical areas [line items]
Total revenue	$ 146,616	$ 95,962
United States
Disclosure of geographical areas [line items]
Total revenue	$ 18,029	$ 25,814

Loan facility (Details)

Loan facility (Details) - Revolving Credit Facility Maturing December 14, 2025 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Nov. 03, 2021	Dec. 31, 2020	Nov. 13, 2020
Disclosure of detailed information about borrowings [line items]
Amounts outstanding on Company's credit facility	$ 29.8		$ 17
Maximum borrowing capacity under borrowing facilities	$ 120	$ 70
Term of credit facility	5 years
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
Top of range
Disclosure of detailed information about borrowings [line items]
Covenant terms - debt to EBITDA				2.5
Prime Rate
Disclosure of detailed information about borrowings [line items]
Basis spread on floating rate (percent)				0.00%
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, 2021	Dec. 31, 2020
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Co-investment commitments	$ 7.7	$ 4.6