Sprott (SII) 40-F 21 Feb 24 2023 FY Annual report (Canada) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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
Entity Address, Address Line Two	200 Bay Street
Entity Address, Address Line Three	Royal Bank Plaza, 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	25,863,041
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Central Index Key	0001512920
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
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, 2023
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, 2023	Dec. 31, 2022
Current
Cash and cash equivalents	$ 20,658	$ 51,678
Fees receivable	7,481	10,967
Short-term investments	2,232	3,348
Other assets	13,496	8,723
Income taxes recoverable	1,189	2,247
Total current assets	45,056	76,963
Non-current
Co-investments	93,528	73,573
Other assets	24,291	21,271
Property and equipment, net	10,856	12,496
Intangible assets	182,902	178,613
Goodwill	19,149	19,149
Deferred income taxes	3,053	1,683
Total non-current assets	333,779	306,785
Total assets	378,835	383,748
Current
Accounts payable and accrued liabilities	12,647	10,703
Compensation payable	7,822	12,342
Income taxes payable	980	2,707
Total current liabilities	21,449	25,752
Non-current
Other accrued liabilities	16,637	18,061
Loan facility	24,237	54,437
Deferred income taxes	10,807	8,227
Total liabilities	73,130	106,477
Shareholders' equity
Capital stock	434,764	428,475
Contributed surplus	35,281	33,716
Deficit	(89,402)	(105,305)
Accumulated other comprehensive loss	(74,938)	(79,615)
Total shareholders' equity	305,705	277,271
Total liabilities and shareholders' equity	378,835	383,748
Commitments and provisions

Consolidated statements of oper

Consolidated statements of operations and comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues
Management fees	$ 132,257	$ 115,355
Carried interest and performance fees	891	3,265
Commissions	8,301	30,663
Finance income	4,852	4,991
Gain (loss) on investments	1,375	(10,242)
Other income	21,345	1,150
Total revenues	169,021	145,182
Expenses
Compensation	74,213	77,117
Trailer, sub-advisor and fund expenses	7,916	10,539
Selling, general and administrative	17,450	15,978
Interest expense	4,060	2,923
Depreciation of property and equipment	2,843	3,355
Other expenses	12,248	10,191
Total expenses	118,730	120,103
Income before income taxes for the year	50,291	25,079
Provision for income taxes	8,492	7,447
Net income for the year	$ 41,799	$ 17,632
Net income per share:
Basic (in USD per share)	$ 1.66	$ 0.70
Diluted (in USD per share)	$ 1.60	$ 0.67
Comprehensive income
Net income for the year	$ 41,799	$ 17,632
Other comprehensive income (loss)
Foreign currency translation gain (loss) (taxes of $Nil)	4,677	(15,058)
Total other comprehensive income (loss)	4,677	(15,058)
Comprehensive income (loss)	$ 46,476	$ 2,574

Consolidated statements of op_2

Consolidated statements of operations and comprehensive income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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, 2021		24,991,620
Equity at beginning of period at Dec. 31, 2021	$ 291,219	$ 417,425	$ 35,357	$ (97,006)	$ (64,557)
Shares acquired for equity incentive plan (shares)		(180,594)
Shares acquired for equity incentive plan	(6,948)	$ (6,948)
Shares released on vesting of equity incentive plan (shares)		324,568
Shares released on vesting of equity incentive plan	0	$ 12,867	(12,867)
Shares issued on exercise of stock options (shares)		115,102
Shares issued on exercise of stock options	1,127	$ 1,807	(680)
Shares acquired and canceled under normal course issuer bid (shares)		(81,538)
Shares acquired and canceled under normal course issuer bid	(3,036)	$ (3,036)
Foreign currency translation gain (loss)	(15,058)				(15,058)
Stock-based compensation	17,041		17,041
Shares issued and released on vesting of RSUs (shares)		80,345
Issuance and released on vesting of RSUs	(2,925)	$ 2,210	(5,135)
Shares issued to purchase management contract (shares)		72,464
Shares issued to purchase management contract	4,000	$ 4,000
Dividends declared (shares)		3,927
Dividends declared	(25,781)	$ 150	0	(25,931)
Net income	17,632			17,632
Number of shares outstanding at end of period (shares) at Dec. 31, 2022		25,325,894
Equity at end of period at Dec. 31, 2022	277,271	$ 428,475	33,716	(105,305)	(79,615)
Shares acquired for equity incentive plan (shares)		(154,131)
Shares acquired for equity incentive plan	(5,252)	$ (5,252)
Shares released on vesting of equity incentive plan (shares)		331,672
Shares released on vesting of equity incentive plan	0	$ 14,247	(14,247)
Shares acquired and canceled under normal course issuer bid (shares)		(126,353)
Shares acquired and canceled under normal course issuer bid	(4,157)	$ (4,157)	0
Foreign currency translation gain (loss)	4,677				4,677
Stock-based compensation	20,411		20,411
Shares issued and released on vesting of RSUs (shares)		31,680
Issuance and released on vesting of RSUs	(3,197)	$ 1,402	(4,599)
Shares issued to purchase management contract (shares)		331,672
Dividends declared (shares)		1,389
Dividends declared	(25,847)	$ 49		(25,896)
Net income	41,799			41,799
Number of shares outstanding at end of period (shares) at Dec. 31, 2023		25,410,151
Equity at end of period at Dec. 31, 2023	$ 305,705	$ 434,764	$ 35,281	$ (89,402)	$ (74,938)

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net income	$ 41,799	$ 17,632
Add (deduct) non-cash items:
(Gain) loss on investments	(1,375)	10,242
Stock-based compensation	20,411	17,041
Depreciation of property and equipment	2,843	3,355
Deferred income tax expense	1,002	0
Current income tax expense	7,490	7,447
Other items	(6,961)	(542)
Shares received on recognition of a previously unrecorded contingent asset	(18,588)	0
Income taxes paid	(8,133)	(8,070)
Changes in:
Fees receivable	884	2,216
Other assets	(5,144)	(7,438)
Accounts payable, accrued liabilities and compensation payable	(4,367)	(9,387)
Cash provided by (used in) operating activities	29,861	32,496
Investing activities
Purchase of investments	(25,474)	(25,771)
Sale of investments	27,033	12,907
Purchase of property and equipment	(1,535)	(128)
Proceeds received on exit of non-core businesses	4,583	0
Management contract consideration	0	(10,500)
Cash provided by (used in) investing activities	4,607	(23,492)
Financing activities
Acquisition of common shares for equity incentive plan	(5,252)	(6,948)
Acquisition of common shares under normal course issuer bid	(4,157)	(3,036)
Cash received on exercise of stock options	0	1,127
Repayment of lease liabilities	(2,224)	(2,329)
Contributions from non-controlling interest	4,216	7,320
Net advances (repayments) from loan facility	(30,200)	25,750
Dividends paid	(25,847)	(25,781)
Cash provided by (used in) financing activities	(63,464)	(3,897)
Effect of foreign exchange on cash balances	(2,024)	(3,234)
Net increase (decrease) in cash and cash equivalents during the year	(31,020)	1,873
Cash and cash equivalents, beginning of the year	51,678	49,805
Cash and cash equivalents, end of the year	20,658	51,678
Cash and cash equivalents:
Cash	20,658	51,494
Short-term deposits	0	184
Total cash and cash equivalents	$ 20,658	$ 51,678

Corporate information

Corporate information	12 Months Ended
	Dec. 31, 2023
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 material accounting

Summary of material accounting policy information	12 Months Ended
	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
Summary of material accounting policy information	Summary of material accounting policy information Statement of compliance These annual audited consolidated financial statements for the years ended December 31, 2023 and 2022 ("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 20, 2024 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 certain financial instruments classified as fair value through profit or loss ("FVTPL") and which are measured at fair value to the extent required or permitted under IFRS and as set out in the relevant accounting policies. The financial statements are presented in U.S. 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 for the same reporting period as the Company and are based on accounting policies consistent with that of the Company. The Company records third-party interest 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 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 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"). During the year, the Company exited its non-core Canadian broker-dealer (Sprott Capital Partners) and non-core asset management business domiciled in Korea ("Korea"). Details of the transactions can be found in Note 5. 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 include equity kickers received as consideration during private strategies, managed equities and broker-dealer activities as well as investments in private companies and are measured at FVTPL. Co-investments Co-investments are investments the Company makes alongside clients of the various fund strategies it manages to demonstrate the commitment and confidence the Company has in investment strategies that they promote and operate. Included in co-investments are the Company's investment in the fund products previously managed by its non-core asset management business domiciled in Korea. Financial instruments Classification and measurement of financial assets Financial assets are measured on initial recognition at fair value, and are classified and subsequently measured at FVTPL, amortized cost or fair value through other comprehensive income ("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 both 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 other comprehensive income. 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 (including digital gold strategies) and alternative investment strategies, while co-investments are investments held in the funds managed or previously 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 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 on the reporting date 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 private strategies 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 the 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 the 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; and • 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 may 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 earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period, after applying 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-of-use asset and a lease liability as at the lease commencement date. The right-of-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-of-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. Reportable segments Effective in the first quarter of this year, the brokerage segment no longer met the definition of a reportable segment under IFRS 8, Operating Segments ("IFRS 8"). Consequently, this segment was retroactively included as part of "All other segments" and all comparative balances have been restated. Please refer to Note 14 for segment information. Contingent consideration The acquisition of the management contracts of the North Shore Global Uranium Mining ETF ("URNM acquisition") in 2022 necessitated the recognition of contingent consideration payable for the amount payable in the future under the terms of the purchase agreement. The consideration is subject to certain financial performance conditions based on the average AUM of the fund over the two-year period from closing of the transaction. The key judgements utilized in the estimation of the contingent consideration were fund flow assumptions. The contingent consideration liability is carried at fair value and included in other accrued liabilities. The contingent consideration estimate as at the acquisition date has been included in the cost of the indefinite life intangible (see Note 7). 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 companies, including goodwill and the identified intangible assets, are included in accumulated other comprehensive income or loss as a separate component within shareholders' equity until there has been a realized reduction in the value of the underlying investment. The Company's presentation currency is the U.S. dollar, and as such, all assets and liabilities are translated using the exchange rate as at the reporting date, while equity transactions are translated at the historical exchange rate at the date of the transaction. The statement of operations has been translated at the average exchange rate of the reporting period. Exchange differences arising on translation are presented in the accumulated other comprehensive loss line in shareholders' equity on the balance sheet. 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. 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. Contingent consideration

Short-term investments

Short-term investments	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Short-term investments	Short-term investments Primarily consist of equity investments in public and private entities the Company receives as consideration during private strategies, managed equitie s and broker-dealer a ctivities (in thousands $): Classification and measurement criteria Dec. 31, 2023 Dec. 31, 2022 Public equities and share purchase warrants FVTPL 754 1,863 Private holdings FVTPL 1,478 1,485 Total short-term investments 2,232 3,348 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, 2023 Dec. 31, 2022 Co-investments in funds (1) FVTPL 93,528 73,573 Total co-investments 93,528 73,573 (1) Includes investments in funds managed and previously managed by the Company Gains and losses on co-investments 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, 2023
Subclassifications of assets, liabilities and equities [abstract]
Co-investments	Short-term investments Primarily consist of equity investments in public and private entities the Company receives as consideration during private strategies, managed equitie s and broker-dealer a ctivities (in thousands $): Classification and measurement criteria Dec. 31, 2023 Dec. 31, 2022 Public equities and share purchase warrants FVTPL 754 1,863 Private holdings FVTPL 1,478 1,485 Total short-term investments 2,232 3,348 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, 2023 Dec. 31, 2022 Co-investments in funds (1) FVTPL 93,528 73,573 Total co-investments 93,528 73,573 (1) Includes investments in funds managed and previously managed by the Company Gains and losses on co-investments 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, 2023
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, 2023 Dec. 31, 2022 Assets attributable to non-controlling interest 15,439 11,301 Fund recoveries and investment receivables 6,658 4,617 Advance on unrealized carried interest 4,517 4,454 Prepaid expenses 4,017 3,741 Other (1) 3,744 2,103 Digital gold strategies (2) 3,412 3,778 Total other assets 37,787 29,994 (1) Includes miscellaneous third-party receivables. (2) 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. Other income Consist of the following (in thousands $): For the years ended Dec. 31, 2023 Dec. 31, 2022 Realization of a previously unrecorded contingent asset (1) 18,588 — Investment income (2) 3,691 1,672 Income attributable to non-controlling interest (934) (522) Total other income 21,345 1,150 (1) In the second quarter, the Company received shares on the realization of an unrecorded contingent asset from a historical acquisition. The Company has no further obligation with respect to these shares. (2) Primarily includes miscellaneous investment fund income, syndication and trailer fee income. Other expenses Consist of the following (in thousands $): For the years ended Dec. 31, 2023 Dec. 31, 2022 Costs related to the exit of non-core businesses (1) 5,142 — Other (2) 3,894 5,537 Foreign exchange (gain) loss 3,212 4,654 Total other expenses 12,248 10,191 (1) During the year, the Company exited its Canadian broker-dealer and its non-core asset management business that was domiciled in Korea. (2) Includes net income (loss) attributable to non-controlling interest of ($0.9) million for the year ended December 31, 2023 (year ended December 31, 2022 - ($0.5) million) as well as non-recurring professional fees and new fund start-up costs. Non-controlling interest assets and liabilities Non-controlling interest consists of third-party interest in the Company's co-investments. The following table provides a summary of amounts attributable to this non-controlling interest (in thousands $): Dec. 31, 2023 Dec. 31, 2022 Assets 15,439 11,301 Liabilities - current (1) (133) (211) Liabilities - long-term (1) (15,306) (11,090) (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, 2023
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, 2021 7,573 2,981 3,036 6,026 12,890 32,506 Additions — 2 126 — — 128 Net exchange differences (484) (160) (160) (372) (531) (1,707) At Dec. 31, 2022 7,089 2,823 3,002 5,654 12,359 30,927 Additions — 154 224 1,157 1,574 3,109 Disposals — (591) (189) (413) (2,684) (3,877) Net exchange differences 170 404 59 123 86 842 At Dec. 31, 2023 7,259 2,790 3,096 6,521 11,335 31,001 Accumulated depreciation At Dec. 31, 2021 — (2,579) (2,882) (4,570) (5,996) (16,027) Depreciation charge for the year — (98) (93) (522) (2,642) (3,355) Net exchange differences — 164 153 278 356 951 At Dec. 31, 2022 — (2,513) (2,822) (4,814) (8,282) (18,431) Depreciation charge for the year — (141) (68) (521) (2,113) (2,843) Disposals — 399 181 201 994 1,775 Net exchange differences — (251) (116) (134) (145) (646) At Dec. 31, 2023 — (2,506) (2,825) (5,268) (9,546) (20,145) Net book value at: Dec. 31, 2022 7,089 310 180 840 4,077 12,496 Dec. 31, 2023 7,259 284 271 1,253 1,789 10,856

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2023
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, 2021 132,251 160,973 36,587 329,811 Additions — 20,410 — 20,410 Transfers — 9,088 (9,088) — Net exchange differences — (11,858) — (11,858) At Dec. 31, 2022 132,251 178,613 27,499 338,363 Net exchange differences — 4,289 — 4,289 At Dec. 31, 2023 132,251 182,902 27,499 342,652 Accumulated amortization At Dec. 31, 2021 (113,102) — (27,499) (140,601) Amortization charge for the year — — — — At Dec. 31, 2022 (113,102) — (27,499) (140,601) Amortization charge for the year — — — — At Dec. 31, 2023 (113,102) — (27,499) (140,601) Net book value at: At Dec. 31, 2022 19,149 178,613 — 197,762 At Dec. 31, 2023 19,149 182,902 — 202,051 Goodwill The Company has identified 5 cas h generating units ("CGU") as follows: • Exchange listed products • Managed equities • Private strategies • Brokerage • Corporate As at December 31, 2023, the Company had allocated $19.1 million ( December 31, 2022 - $19.1 million) of goodwill between the exchange listed products CGU ($17.9 million) and the managed equities CGU ($1.2 million). Goodwill was allocated on a relative value approach basis. Indefinite life fund management contracts As at December 31, 2023, the Company had indefinite life intangibles related to fund management contracts of $182.9 million (December 31, 2022 - $178.6 million). These contracts are held within the exchange listed products and managed equities CGUs. Impairment assessment of goodwill and indefinite life fund management contracts In the normal course, goodwill and indefinite life fund management contracts are 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. As part of the Company’s annual impairment testing process, the recoverable amounts associated with goodwill and indefinite life fund management contracts are calculated based on a five year value-in-use model with a terminal multiple. The value-in-use model estimates future earnings based on: (1) external pricing estimates for commodities (gold, silver and uranium), (2) analyst price forecasts for the underlying equity indices; and (3) fund flow assumptions based on historical experience. These inputs are used to estimate future cash flows which are discounted at 9.25% and compared to the CGUs and the intangible assets carrying value. During the annual impairment testing process, there was no impairment in either the exchange listed products or the managed equities CGUs.

Shareholders' equity

Shareholders' equity	12 Months Ended
	Dec. 31, 2023
Share Capital, Reserves and Other Equity Interests [Abstract]
Shareholders' equity	Shareholders' equity 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, 2021 24,991,620 417,425 Shares acquired for equity incentive plan (180,594) (6,948) Shares issued on exercise of stock options 115,102 1,807 Shares released on vesting of equity incentive plan 324,568 12,867 Shares issued on vesting of RSUs 80,345 2,210 Shares issued to purchase management contracts 72,464 4,000 Shares acquired and canceled under normal course issuer bid (81,538) (3,036) Shares issued under dividend reinvestment program 3,927 150 At Dec. 31, 2022 25,325,894 428,475 Shares acquired for equity incentive plan (154,131) (5,252) Shares released on vesting of equity incentive plan 331,672 14,247 Shares acquired and canceled under normal course issuer bid (126,353) (4,157) Shares issued on vesting of RSUs 31,680 1,402 Shares issued under dividend reinvestment program 1,389 49 At Dec. 31, 2023 25,410,151 434,764 Contributed surplus consists of stock option expense, earn-out shares expense, equity incentive plans' expense, and additional purchase consideration. Stated value At Dec. 31, 2021 35,357 Shares issued on exercise of stock options (680) Shares released on vesting of equity incentive plan (12,867) Stock-based compensation 17,041 Released on vesting of RSUs (5,135) At Dec. 31, 2022 33,716 Shares released on vesting of equity incentive plan (14,247) Released on vesting of RSUs (4,599) Stock-based compensation 20,411 At Dec. 31, 2023 35,281 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, 2023 (year ended December 31, 2022 - Nil). There were no stock options exercised during the year ended December 31, 2023 (year ended December 31, 2022 - 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. As at December 31, 2023, there are 12,500 options outstanding (December 31, 2022 - 12,500) with a weighted average exercise price of CAD$27.30 and 2.4 years remaining on their contractual life. 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 63,128 RSUs granted during the year ended December 31, 2023 (year ended December 31, 2022 - 372,000). Number of Unvested common shares held by the Trust, Dec. 31, 2021 774,405 Acquired 180,594 Released on vesting (324,568) Unvested common shares held by the Trust, Dec. 31, 2022 630,431 Acquired 154,131 Released on vesting (331,672) Unvested common shares held by the Trust, Dec. 31, 2023 452,890 Included in the compensation line of the consolidated statements of operations and comprehensive income is $20.4 million of stock-based compensation for the year ended December 31, 2023 (year ended December 31, 2022 - $17 million). 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, 2023 Dec. 31, 2022 Numerator (in thousands $): Net income - basic and diluted 41,799 17,632 Denominator (number of shares in thousands): Weighted average number of common shares 25,892 25,923 Weighted average number of unvested shares purchased by the Trust (662) (857) Weighted average number of common shares - basic 25,230 25,066 Weighted average number of dilutive stock options 13 13 Weighted average number of unvested shares under EIP 827 1,107 Weighted average number of common shares - diluted 26,070 26,186 Net income per common share Basic 1.66 0.70 Diluted 1.60 0.67 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 to 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). 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, 2023 and 2022, all entities were in compliance with their respective capital requirements.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
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, 2023 Dec. 31, 2022 Current income tax expense Based on taxable income of the current period 8,060 8,096 Adjustments in respect to previous years (570) (649) Total current income tax expense 7,490 7,447 Deferred income tax expense (recovery) Origination and reversal of temporary differences 1,148 (187) Adjustments in respect to previous years (146) 187 Total deferred income tax expense (recovery) 1,002 — Income tax expense reported in the consolidated statements of operations 8,492 7,447 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, 2023 Dec. 31, 2022 Income before income taxes 50,291 25,079 Tax calculated at domestic tax rates applicable to profits in the respective countries 13,408 6,679 Tax effects of: Non-deductible stock-based compensation 71 (21) Non-taxable capital (gains) and losses (3,377) 884 Adjustments in respect to previous years (716) (462) Temporary differences not currently utilized and (not benefited previously) (981) 318 Rate differences and other 87 49 Tax charge 8,492 7,447 The weighted average statutory tax rate was 26.7% (December 31, 2022 - 26.6%). The Company h as $1.8 million (December 31, 2022 - $1.1 million) of capital 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, 2023 Dec. 31, 2022 Recognized in income Exchange rate differences Dec. 31, 2023 Deferred income tax assets Stock-based compensation 5,768 1,090 160 7,018 Non-capital and capital losses 1,324 2,742 113 4,179 Other 614 (27) 4 591 Total deferred income tax assets 7,706 3,805 277 11,788 Deferred income tax liabilities Fund management contracts 14,796 1,445 598 16,839 Unrealized gains (losses) (2,249) 3,197 10 958 Advance on unrealized carried interest 1,180 (12) 28 1,196 Fixed assets and other 523 177 (151) 549 Total deferred income tax liabilities 14,250 4,807 485 19,542 Net deferred income tax assets (liabilities) (1) (6,544) (1,002) (208) (7,754) For the year ended December 31, 2022 Dec. 31, 2021 Recognized in income Exchange rate differences Dec. 31, 2022 Deferred income tax assets Stock-based compensation 4,177 1,928 (337) 5,768 Non-capital and capital losses 1,061 344 (81) 1,324 Other 1,007 (635) 242 614 Total deferred income tax assets 6,245 1,637 (176) 7,706 Deferred income tax liabilities Fund management contracts 13,732 2,231 (1,167) 14,796 Unrealized gains (losses) (978) (1,337) 66 (2,249) Advance on unrealized carried interest — 1,231 (51) 1,180 Fixed assets and other 519 (488) 492 523 Total deferred income tax liabilities 13,273 1,637 (660) 14,250 Net deferred income tax assets (liabilities) (1) (7,028) — 484 (6,544) (1)

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2023
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, 2023 and December 31, 2022 (in thousands $). Short-term investments Dec. 31, 2023 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 708 44 2 754 Private holdings — — 1,478 1,478 Total recurring fair value measurements 708 44 1,480 2,232 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 1,012 804 47 1,863 Private holdings — — 1,485 1,485 Total recurring fair value measurements 1,012 804 1,532 3,348 Co-investments Dec. 31, 2023 Level 1 Level 2 Level 3 Total Co-investments (1) 15,357 78,171 — 93,528 Total recurring fair value measurements 15,357 78,171 — 93,528 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Co-investments (1) 10,279 63,294 — 73,573 Total recurring fair value measurements 10,279 63,294 — 73,573 (1) Co-investments also include investments made in funds which the Company consolidates that directly hold publicly traded equities or precious metals. Other assets Dec. 31, 2023 Level 1 Level 2 Level 3 Total Digital gold strategies — — 3,412 3,412 Assets attributable to non-controlling interest 1,706 13,733 — 15,439 Total recurring fair value measurements 1,706 13,733 3,412 18,851 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Digital gold strategies — — 3,778 3,778 Assets attributable to non-controlling interest 3,248 8,053 — 11,301 Total recurring fair value measurements 3,248 8,053 3,778 15,079 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, 2023 Dec. 31, 2022 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2023 Share purchase warrants 47 48 (37) (56) 2 Private holdings 1,485 — — (7) 1,478 Total 1,532 48 (37) (63) 1,480 Changes in the fair value of Level 3 measurements - Dec. 31, 2022 Dec. 31, 2021 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2022 Share purchase warrants 135 (44) — (44) 47 Private holdings 2,020 — — (535) 1,485 Total 2,155 (44) — (579) 1,532 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2023 Dec. 31, 2022 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2023 Digital gold strategies 3,778 — — (366) 3,412 Total 3,778 — — (366) 3,412 Changes in the fair value of Level 3 measurements - Dec. 31, 2022 Dec. 31, 2021 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2022 Digital gold strategies 7,060 — — (3,282) 3,778 Total 7,060 — — (3,282) 3,778 During the year ended December 31, 2023, the Company transferred public equities o f $0.1 million (December 31, 2022 - $0.8 million) from Level 2 to Level 1 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, precious metals and share purchase warrants Fair values are determined using publicly available prices or 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 and share purchase warrants. The significant unobservable inputs used in these valuation techniques can vary considerably over time, and include gray market financing prices, volatility and discount rates. A significant change in any of these inputs in isolation would result in a material impact in fair value measureme nt. The potential impact of a 5% change in the significant unobservable inputs on profit or loss would be approximately $0.2 million ( December 31, 2022 - $0.3 million). Financial instruments not carried at fair value The carrying amounts of fees receivable, other assets, accounts payable and accrued liabilities and compensation payable represent a reasonable approximation of fair value.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
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, 2023 Dec. 31, 2022 Fixed salaries and benefits 4,655 4,998 Variable incentive-based compensation 6,139 7,913 Share-based compensation 9,915 11,881 20,709 24,792 The DSU plan for independent directors of the Company vests annually over a three-year period and may only be settled in cash upon retirement. DSUs issued in lieu of directors' fees and dividends vest immediately. There were 15,782 DSUs issued during the year (December 31, 2022 - 16,820 ). In the second quarter of the year, the Company completed the sale of its Canadian broker-dealer to its former management team. The net assets of the Canadian broker-dealer at the time of the transaction were $6.3 million. In the third quarter, the Company completed the sale of its non-core asset management business in Korea to its management teams. The total charge taken on the exit of Korea was $3.6 million, the majority of which pertains to its historical book value. Details of the transactions can be found in Note 5.

Dividends

Dividends	12 Months Ended
	Dec. 31, 2023
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends	Dividends The following dividends were declared by the Company during the year ended December 31, 2023: Record date Payment date Cash dividend Total dividend amount (in thousands $) November 13, 2023 - Regular dividend Q3 2023 November 28, 2023 $0.25 6,458 August 21, 2023 - Regular dividend Q2 2023 September 5, 2023 $0.25 6,467 May 15, 2023 - Regular dividend Q1 2023 May 30, 2023 $0.25 6,482 March 6, 2023 - Regular dividend Q4 2022 March 21, 2023 $0.25 6,489 Dividends declared in 2023 (1) 25,896 (1) Subsequent to year end, on February 20, 2024, a regular dividend of $0.25 per common share was declared for the quarter ended December 31, 2023. This dividend is payable on March 19, 2024 to shareholders of record at the close of business on March 4, 2024.

Risk management activities

Risk management activities	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Risk management activities	Risk management activities The Company's exposure to market, credit, liquidity and concentration 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 $ 5 million for the year (December 31, 2022 - $4 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, SAM US and RCIC. 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 assets and liabilities. The Company’s earnings, particularly through its co-investment in private strategies LPs and outstanding balance on the Company's line of credit, are exposed to volatility as a result of sudden changes in interest rates. As at December 31, 2023, the Company had no fixed income securities (December 31, 2022 - $Nil). 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 U.S. dollar. The Company may employ certain hedging strategies to mitigate foreign currency risk. The US entities assets are all denominated in U.S. dollars 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, 2023 , approximately $73.2 million (December 31, 2022 - $55.2 million) of total Canadian assets were invested in proprietary investments priced in U.S. dollars. A total of $9.7 million (December 31, 2022 - $12.9 million) of cash, $6.8 million (December 31, 2022 -$4 million) of accounts receivable and $8.2 million (December 31, 2022 - $5.4 million) of other assets were denominated in USD. As at December 31, 2023 , if the exchange rate between the U.S. dollar 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 $4.9 million for the year (December 31, 2022 - $3.9 million). Credit risk Credit risk is the risk that a borrower will not honor its commitments and a loss to the Company may result. Loans receivable The Company incurs credit risk indirectly through co-investments made in the private strategies 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 the Company's interests; and • 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. Investments The Company incurs credit risk when entering into, settling and financing various proprietary transactions. As at December 31, 2023 and 2022, the Company's most significant proprietary investments counterparty was Royal Bank of Canada ("RBC") which acts as a custodian for most of the Company's proprietary investments. RBC is registered as an investment dealer subject to regulation by the Canadian Investment Regulatory Organization; 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, 2023 and 2022, 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 $75 million committed line of credit with a major Canadian Schedule I bank. As at December 31, 2023, the Company had $20.7 million or 5% (December 31, 2022 - $51.7 million or 13%) of its total assets in cash and cash equivalents. In addition, approximately $39.7 million or 40% (December 31, 2022 - $32 million or 40%) 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 its' co-investments in private strategies LPs arises from fluctuations in cash flows from making capital calls and receiving capital distributions. The Company manages its 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, 2023, the Company had $5.9 million in co-investment commitments from the private strategies segment (December 31, 2022 - $6.1 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, 2023 (in thousands $): Contractual obligations Carrying Less 1-3 4-5 More Operating accounts payable 11,749 11,749 — — — Compensation payable 7,822 7,822 — — — Contingent consideration on URNM acquisition 4,470 4,470 — — — Lease obligation 2,096 765 1,244 87 — Loan facility 24,237 — — 24,237 — Total contractual obligations 50,374 24,806 1,244 24,324 — 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 an d critical materials.

Segmented information

Segmented information	12 Months Ended
	Dec. 31, 2023
Operating Segments [Abstract]
Segmented information	Segmented information For management purposes, the Company is organized into business units based on its products, services and geographical locations and has four 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 management services to the Company's alternative investment strategies managed in-house and on a sub-advisory basis; • Private strategies (reportable), which provides lending and streaming activities through limited partnership vehicles; • Corporate (reportable), which provides capital, balance sheet management and enterprise shared services to the Company's subsidiaries; and • All other segments (non-reportable), which do not meet the definition of reportable segments per IFRS 8. Effective in the first quarter of this year, the brokerage segment no longer met the definition of a reportable segment. Consequently, this segment was retroactively included as part of "All other segments". 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 investments (as if such gains and losses had not occurred), other (income) and expenses, amortization of 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, 2023 Exchange listed products Managed Private strategies Corporate Consolidation, elimination and all other segments Consolidated Total revenue 103,301 30,180 28,183 (198) 7,555 169,021 Total expenses 29,306 26,222 15,604 33,776 13,822 118,730 Income (loss) before income taxes 73,995 3,958 12,579 (33,974) (6,267) 50,291 Adjusted base EBITDA 62,303 7,756 12,361 (11,047) 514 71,887 For the year ended December 31, 2022 Exchange listed products Managed Private strategies Corporate Consolidation, elimination and all other segments Consolidated Total revenue 76,819 29,710 16,984 (3,288) 24,957 145,182 Total expenses 27,221 25,634 12,400 31,246 23,602 120,103 Income (loss) before income taxes 49,598 4,076 4,584 (34,534) 1,355 25,079 Adjusted base EBITDA 56,948 9,932 9,207 (10,518) 5,433 71,002 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, 2023 Dec. 31, 2022 Canada 154,941 130,397 United States 14,080 14,785 169,021 145,182

Loan facility

Loan facility	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Loan facility	Loan facility As at December 31, 2023, the Company had $24.2 million (December 31, 2022 - $54.4 million) outstanding on its credit facility, all of which is due on August 8, 2028. The decrease in the year was due to the repayment of $30.2 million of the loan facility. As at December 31, 2023, the Company was in compliance with all covenants, terms and conditions under the credit facility. The Company has access to a credit facility of $75 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. Key terms under the current credit facility are noted below: Structure • 5-year, $75 million revolver with "bullet maturity" August 8, 2028 Interest rate • U.S. prime rate + 105 bps; or • Canadian prime rate + 55 bps; Covenant terms • Minimum AUM: CAD$15.4 billion; • Debt to EBITDA less than or equal to 2.5:1; and •

Commitments and provisions

Commitments and provisions	12 Months Ended
	Dec. 31, 2023
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Commitments and provisions	Commitments and provisions The Company has commitments to make co-investments in private strategies LPs or commitments to make co-investments in fund strategies in the Company's other segments. As at December 31, 2023, the Company had $4 million in co-investment commitments in private strategies LPs due within one year (December 31, 2022 - $5.7 million), and $1.9 million due after 12 months (December 31, 2022 - $0.4 million). During the year, the Company signed a new lease for its existing Toronto office location that is set to commence on January 1, 2024.

Summary of material accountin_2

Summary of material accounting policy information (Policies)	12 Months Ended
	Dec. 31, 2023
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 certain financial instruments classified as fair value through profit or loss ("FVTPL") and which are measured at fair value to the extent required or permitted under IFRS and as set out in the relevant accounting policies. The financial statements are presented in U.S. 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 for the same reporting period as the Company and are based on accounting policies consistent with that of the Company. The Company records third-party interest 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 line of the consolidated statements of operations and comprehensive income .
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 include equity kickers received as consideration during private strategies, managed equities and broker-dealer activities as well as investments in private companies and are measured at FVTPL. Co-investments
Financial instruments	Financial instruments Classification and measurement of financial assets Financial assets are measured on initial recognition at fair value, and are classified and subsequently measured at FVTPL, amortized cost or fair value through other comprehensive income ("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 both 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 other comprehensive income. 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 (including digital gold strategies) and alternative investment strategies, while co-investments are investments held in the funds managed or previously 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 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 on the reporting date 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 private strategies 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 the 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. Any loss resulting from the impairment of intangible assets is expensed in the period the impairment is identified. Any gain resulting from an impairment reversal of intangible assets is recognized in the period the impairment reversal is identified but cannot exceed the carrying amount that would have been determined (net of amortization and impairment) had no impairment loss been recognized for the intangible asset in prior periods.
Business combinations and goodwill	Business combinations and goodwill The purchase price of an acquisition accounted for under the acquisition method is allocated based on the fair values of the net identifiable assets acquired. The excess of the purchase price over the fair values of such identifiable net assets is recorded as goodwill. Goodwill, which is measured at cost less any accumulated impairment losses, is not amortized, but rather, is assessed for impairment indicators at each reporting date, or more frequently if changes in circumstances indicate that the carrying value may be impaired. In addition to quarterly impairment indicator assessments, goodwill must be tested annually for impairment. For the purpose of impairment testing, goodwill is allocated to each of the Company's cash generating units ("CGUs") that are expected to benefit from the acquisition. The recoverable amount of a CGU is compared to its carrying value plus any goodwill allocated to the CGU. If the recoverable amount of a CGU is less than its carrying value plus allocated goodwill, an impairment charge is recognized, first against the carrying value of the goodwill, with any remaining difference being applied against the carrying value of assets contained in the impacted CGUs. Impairment losses on goodwill are recorded in the consolidated statements of operations and comprehensive income and cannot be subsequently reversed.
Income taxes	Income taxes Income tax is comprised of current and deferred tax. Income tax is recognized in the consolidated statements of operations and comprehensive income except to the extent that it relates to items recognized directly in other comprehensive income or elsewhere in equity, in which case, the related taxes are also recognized in other comprehensive income (loss) or elsewhere in equity. Deferred taxes are recognized using the liability method for temporary differences that exist between the carrying amounts of assets and liabilities in the consolidated balance 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; and • Taxable temporary differences arising on the initial recognition of goodwill. The Company records a provision for uncertain tax positions if it is probable that the Company will have to make a payment to tax authorities upon their examination of a tax position. This provision is measured at the Company's best estimate of the amount expected to be paid. Provisions are reversed to income in the period in which management assesses they are no longer required or determined by statute. The measurement of tax assets and liabilities requires an assessment of the potential tax consequences of items that can only be resolved through agreement with the tax authorities. While the ultimate outcome of such tax audits and discussions cannot be determined with certainty, management estimates the level of provisions required for both current and deferred taxes.
Share-based payments	Share-based payments The Company uses the fair value method to account for equity settled share-based payments with employees and directors. Compensation expense is determined using the Black‑Scholes option valuation model for stock options. Compensation expense for the share incentive program is determined based on the fair value of the benefit conferred on the employee. Compensation expense for deferr ed stock units ("DSU") is determined based on the value of the Company's common shares at the time of grant. Compensation expense for earn-out shares is determined using appropriate valuation models. Compensation expense related to the Company's Employee Profit Sharing Plan is determined based on the value of the Company's common shares purchased by the Trust as of the grant date. Compensation expense is recognized over the vesting period wit h a corresponding increase to contributed surplus other than for the Company's DSUs where the corresponding increase is to liabilities. Stock options and common shares held by the Trust vest in installments which may 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 earnings per share are computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period, after applying 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-of-use asset and a lease liability as at the lease commencement date. The right-of-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-of-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.
Reportable segments	Reportable segments
Contingent consideration	Contingent consideration
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.
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. 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. Contingent consideration

Short-term investments (Tables)

Short-term investments (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Short-term investments	Primarily consist of equity investments in public and private entities the Company receives as consideration during private strategies, managed equitie s and broker-dealer a ctivities (in thousands $): Classification and measurement criteria Dec. 31, 2023 Dec. 31, 2022 Public equities and share purchase warrants FVTPL 754 1,863 Private holdings FVTPL 1,478 1,485 Total short-term investments 2,232 3,348

Co-investments (Tables)

Co-investments (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Co-investments	Consists of the following (in thousands $): Classification and measurement criteria Dec. 31, 2023 Dec. 31, 2022 Co-investments in funds (1) FVTPL 93,528 73,573 Total co-investments 93,528 73,573 (1) Includes investments in funds managed and previously managed by the Company

Other assets, income, expense_2

Other assets, income, expenses and non-controlling interest (Tables)	12 Months Ended
	Dec. 31, 2023
Interest in Other Entities [Abstract]
Components of other assets	Consist of the following (in thousands $): Dec. 31, 2023 Dec. 31, 2022 Assets attributable to non-controlling interest 15,439 11,301 Fund recoveries and investment receivables 6,658 4,617 Advance on unrealized carried interest 4,517 4,454 Prepaid expenses 4,017 3,741 Other (1) 3,744 2,103 Digital gold strategies (2) 3,412 3,778 Total other assets 37,787 29,994 (1) Includes miscellaneous third-party receivables. (2) 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.
Components of other income	Consist of the following (in thousands $): For the years ended Dec. 31, 2023 Dec. 31, 2022 Realization of a previously unrecorded contingent asset (1) 18,588 — Investment income (2) 3,691 1,672 Income attributable to non-controlling interest (934) (522) Total other income 21,345 1,150 (1) In the second quarter, the Company received shares on the realization of an unrecorded contingent asset from a historical acquisition. The Company has no further obligation with respect to these shares. (2) Primarily includes miscellaneous investment fund income, syndication and trailer fee income.
Components of other expenses	Consist of the following (in thousands $): For the years ended Dec. 31, 2023 Dec. 31, 2022 Costs related to the exit of non-core businesses (1) 5,142 — Other (2) 3,894 5,537 Foreign exchange (gain) loss 3,212 4,654 Total other expenses 12,248 10,191 (1) During the year, the Company exited its Canadian broker-dealer and its non-core asset management business that was domiciled in Korea. (2) Includes net income (loss) attributable to non-controlling interest of ($0.9) million for the year ended December 31, 2023 (year ended December 31, 2022 - ($0.5) million) as well as non-recurring professional fees and new fund start-up costs.
Components of non-controlling interests	Non-controlling interest consists of third-party interest in the Company's co-investments. The following table provides a summary of amounts attributable to this non-controlling interest (in thousands $): Dec. 31, 2023 Dec. 31, 2022 Assets 15,439 11,301 Liabilities - current (1) (133) (211) Liabilities - long-term (1) (15,306) (11,090) (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, 2023
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, 2021 7,573 2,981 3,036 6,026 12,890 32,506 Additions — 2 126 — — 128 Net exchange differences (484) (160) (160) (372) (531) (1,707) At Dec. 31, 2022 7,089 2,823 3,002 5,654 12,359 30,927 Additions — 154 224 1,157 1,574 3,109 Disposals — (591) (189) (413) (2,684) (3,877) Net exchange differences 170 404 59 123 86 842 At Dec. 31, 2023 7,259 2,790 3,096 6,521 11,335 31,001 Accumulated depreciation At Dec. 31, 2021 — (2,579) (2,882) (4,570) (5,996) (16,027) Depreciation charge for the year — (98) (93) (522) (2,642) (3,355) Net exchange differences — 164 153 278 356 951 At Dec. 31, 2022 — (2,513) (2,822) (4,814) (8,282) (18,431) Depreciation charge for the year — (141) (68) (521) (2,113) (2,843) Disposals — 399 181 201 994 1,775 Net exchange differences — (251) (116) (134) (145) (646) At Dec. 31, 2023 — (2,506) (2,825) (5,268) (9,546) (20,145) Net book value at: Dec. 31, 2022 7,089 310 180 840 4,077 12,496 Dec. 31, 2023 7,259 284 271 1,253 1,789 10,856

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2021 132,251 160,973 36,587 329,811 Additions — 20,410 — 20,410 Transfers — 9,088 (9,088) — Net exchange differences — (11,858) — (11,858) At Dec. 31, 2022 132,251 178,613 27,499 338,363 Net exchange differences — 4,289 — 4,289 At Dec. 31, 2023 132,251 182,902 27,499 342,652 Accumulated amortization At Dec. 31, 2021 (113,102) — (27,499) (140,601) Amortization charge for the year — — — — At Dec. 31, 2022 (113,102) — (27,499) (140,601) Amortization charge for the year — — — — At Dec. 31, 2023 (113,102) — (27,499) (140,601) Net book value at: At Dec. 31, 2022 19,149 178,613 — 197,762 At Dec. 31, 2023 19,149 182,902 — 202,051

Shareholders' equity (Tables)

Shareholders' equity (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2021 24,991,620 417,425 Shares acquired for equity incentive plan (180,594) (6,948) Shares issued on exercise of stock options 115,102 1,807 Shares released on vesting of equity incentive plan 324,568 12,867 Shares issued on vesting of RSUs 80,345 2,210 Shares issued to purchase management contracts 72,464 4,000 Shares acquired and canceled under normal course issuer bid (81,538) (3,036) Shares issued under dividend reinvestment program 3,927 150 At Dec. 31, 2022 25,325,894 428,475 Shares acquired for equity incentive plan (154,131) (5,252) Shares released on vesting of equity incentive plan 331,672 14,247 Shares acquired and canceled under normal course issuer bid (126,353) (4,157) Shares issued on vesting of RSUs 31,680 1,402 Shares issued under dividend reinvestment program 1,389 49 At Dec. 31, 2023 25,410,151 434,764 Contributed surplus consists of stock option expense, earn-out shares expense, equity incentive plans' expense, and additional purchase consideration. Stated value At Dec. 31, 2021 35,357 Shares issued on exercise of stock options (680) Shares released on vesting of equity incentive plan (12,867) Stock-based compensation 17,041 Released on vesting of RSUs (5,135) At Dec. 31, 2022 33,716 Shares released on vesting of equity incentive plan (14,247) Released on vesting of RSUs (4,599) Stock-based compensation 20,411 At Dec. 31, 2023 35,281
Schedule of outstanding common shares under Equity incentive plan	Number of Unvested common shares held by the Trust, Dec. 31, 2021 774,405 Acquired 180,594 Released on vesting (324,568) Unvested common shares held by the Trust, Dec. 31, 2022 630,431 Acquired 154,131 Released on vesting (331,672) Unvested common shares held by the Trust, Dec. 31, 2023 452,890
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, 2023 Dec. 31, 2022 Numerator (in thousands $): Net income - basic and diluted 41,799 17,632 Denominator (number of shares in thousands): Weighted average number of common shares 25,892 25,923 Weighted average number of unvested shares purchased by the Trust (662) (857) Weighted average number of common shares - basic 25,230 25,066 Weighted average number of dilutive stock options 13 13 Weighted average number of unvested shares under EIP 827 1,107 Weighted average number of common shares - diluted 26,070 26,186 Net income per common share Basic 1.66 0.70 Diluted 1.60 0.67

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 Dec. 31, 2022 Current income tax expense Based on taxable income of the current period 8,060 8,096 Adjustments in respect to previous years (570) (649) Total current income tax expense 7,490 7,447 Deferred income tax expense (recovery) Origination and reversal of temporary differences 1,148 (187) Adjustments in respect to previous years (146) 187 Total deferred income tax expense (recovery) 1,002 — Income tax expense reported in the consolidated statements of operations 8,492 7,447
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, 2023 Dec. 31, 2022 Income before income taxes 50,291 25,079 Tax calculated at domestic tax rates applicable to profits in the respective countries 13,408 6,679 Tax effects of: Non-deductible stock-based compensation 71 (21) Non-taxable capital (gains) and losses (3,377) 884 Adjustments in respect to previous years (716) (462) Temporary differences not currently utilized and (not benefited previously) (981) 318 Rate differences and other 87 49 Tax charge 8,492 7,447 The weighted average statutory tax rate was 26.7% (December 31, 2022 - 26.6%). The Company h as $1.8 million (December 31, 2022 - $1.1 million) of capital 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, 2023 Dec. 31, 2022 Recognized in income Exchange rate differences Dec. 31, 2023 Deferred income tax assets Stock-based compensation 5,768 1,090 160 7,018 Non-capital and capital losses 1,324 2,742 113 4,179 Other 614 (27) 4 591 Total deferred income tax assets 7,706 3,805 277 11,788 Deferred income tax liabilities Fund management contracts 14,796 1,445 598 16,839 Unrealized gains (losses) (2,249) 3,197 10 958 Advance on unrealized carried interest 1,180 (12) 28 1,196 Fixed assets and other 523 177 (151) 549 Total deferred income tax liabilities 14,250 4,807 485 19,542 Net deferred income tax assets (liabilities) (1) (6,544) (1,002) (208) (7,754) For the year ended December 31, 2022 Dec. 31, 2021 Recognized in income Exchange rate differences Dec. 31, 2022 Deferred income tax assets Stock-based compensation 4,177 1,928 (337) 5,768 Non-capital and capital losses 1,061 344 (81) 1,324 Other 1,007 (635) 242 614 Total deferred income tax assets 6,245 1,637 (176) 7,706 Deferred income tax liabilities Fund management contracts 13,732 2,231 (1,167) 14,796 Unrealized gains (losses) (978) (1,337) 66 (2,249) Advance on unrealized carried interest — 1,231 (51) 1,180 Fixed assets and other 519 (488) 492 523 Total deferred income tax liabilities 13,273 1,637 (660) 14,250 Net deferred income tax assets (liabilities) (1) (7,028) — 484 (6,544) (1)

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 and December 31, 2022 (in thousands $). Short-term investments Dec. 31, 2023 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 708 44 2 754 Private holdings — — 1,478 1,478 Total recurring fair value measurements 708 44 1,480 2,232 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Public equities and share purchase warrants 1,012 804 47 1,863 Private holdings — — 1,485 1,485 Total recurring fair value measurements 1,012 804 1,532 3,348 Co-investments Dec. 31, 2023 Level 1 Level 2 Level 3 Total Co-investments (1) 15,357 78,171 — 93,528 Total recurring fair value measurements 15,357 78,171 — 93,528 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Co-investments (1) 10,279 63,294 — 73,573 Total recurring fair value measurements 10,279 63,294 — 73,573 (1) Co-investments also include investments made in funds which the Company consolidates that directly hold publicly traded equities or precious metals. Other assets Dec. 31, 2023 Level 1 Level 2 Level 3 Total Digital gold strategies — — 3,412 3,412 Assets attributable to non-controlling interest 1,706 13,733 — 15,439 Total recurring fair value measurements 1,706 13,733 3,412 18,851 Dec. 31, 2022 Level 1 Level 2 Level 3 Total Digital gold strategies — — 3,778 3,778 Assets attributable to non-controlling interest 3,248 8,053 — 11,301 Total recurring fair value measurements 3,248 8,053 3,778 15,079 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, 2023 Dec. 31, 2022 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2023 Share purchase warrants 47 48 (37) (56) 2 Private holdings 1,485 — — (7) 1,478 Total 1,532 48 (37) (63) 1,480 Changes in the fair value of Level 3 measurements - Dec. 31, 2022 Dec. 31, 2021 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2022 Share purchase warrants 135 (44) — (44) 47 Private holdings 2,020 — — (535) 1,485 Total 2,155 (44) — (579) 1,532 Other assets Changes in the fair value of Level 3 measurements - Dec. 31, 2023 Dec. 31, 2022 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2023 Digital gold strategies 3,778 — — (366) 3,412 Total 3,778 — — (366) 3,412 Changes in the fair value of Level 3 measurements - Dec. 31, 2022 Dec. 31, 2021 Purchases and reclassifications Sales Net unrealized gains (losses) included in net income Dec. 31, 2022 Digital gold strategies 7,060 — — (3,282) 3,778 Total 7,060 — — (3,282) 3,778
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, precious metals and share purchase warrants Fair values are determined using publicly available prices or 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, 2023
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, 2023 Dec. 31, 2022 Fixed salaries and benefits 4,655 4,998 Variable incentive-based compensation 6,139 7,913 Share-based compensation 9,915 11,881 20,709 24,792

Dividends (Tables)

Dividends (Tables)	12 Months Ended
	Dec. 31, 2023
Share Capital, Reserves and Other Equity Interests [Abstract]
Dividends Declared	The following dividends were declared by the Company during the year ended December 31, 2023: Record date Payment date Cash dividend Total dividend amount (in thousands $) November 13, 2023 - Regular dividend Q3 2023 November 28, 2023 $0.25 6,458 August 21, 2023 - Regular dividend Q2 2023 September 5, 2023 $0.25 6,467 May 15, 2023 - Regular dividend Q1 2023 May 30, 2023 $0.25 6,482 March 6, 2023 - Regular dividend Q4 2022 March 21, 2023 $0.25 6,489 Dividends declared in 2023 (1) 25,896 (1) Subsequent to year end, on February 20, 2024, a regular dividend of $0.25 per common share was declared for the quarter ended December 31, 2023. This dividend is payable on March 19, 2024 to shareholders of record at the close of business on March 4, 2024.

Risk management activities (Tab

Risk management activities (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Remaining contractual maturities of financial liabilities	Contractual obligations Carrying Less 1-3 4-5 More Operating accounts payable 11,749 11,749 — — — Compensation payable 7,822 7,822 — — — Contingent consideration on URNM acquisition 4,470 4,470 — — — Lease obligation 2,096 765 1,244 87 — Loan facility 24,237 — — 24,237 — Total contractual obligations 50,374 24,806 1,244 24,324 —

Segmented information (Tables)

Segmented information (Tables)	12 Months Ended
	Dec. 31, 2023
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, 2023 Exchange listed products Managed Private strategies Corporate Consolidation, elimination and all other segments Consolidated Total revenue 103,301 30,180 28,183 (198) 7,555 169,021 Total expenses 29,306 26,222 15,604 33,776 13,822 118,730 Income (loss) before income taxes 73,995 3,958 12,579 (33,974) (6,267) 50,291 Adjusted base EBITDA 62,303 7,756 12,361 (11,047) 514 71,887 For the year ended December 31, 2022 Exchange listed products Managed Private strategies Corporate Consolidation, elimination and all other segments Consolidated Total revenue 76,819 29,710 16,984 (3,288) 24,957 145,182 Total expenses 27,221 25,634 12,400 31,246 23,602 120,103 Income (loss) before income taxes 49,598 4,076 4,584 (34,534) 1,355 25,079 Adjusted base EBITDA 56,948 9,932 9,207 (10,518) 5,433 71,002
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, 2023 Dec. 31, 2022 Canada 154,941 130,397 United States 14,080 14,785 169,021 145,182

Summary of material accountin_3

Summary of material accounting policy information (Details)	12 Months Ended
	Dec. 31, 2023
Disclosure of detailed information about property, plant and equipment [line items]
Financial performance period	2 years
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, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Public equities and share purchase warrants	$ 754	$ 1,863
Private holdings	1,478	1,485
Total short-term investments	$ 2,232	$ 3,348

Co-Investments (Details)

Co-Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Co-investments in funds	$ 93,528	$ 73,573
Total co-investments	$ 93,528	$ 73,573

Other assets, income, expense_3

Other assets, income, expenses and non-controlling interest - Other assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Interest in Other Entities [Abstract]
Assets attributable to non-controlling interest	$ 15,439	$ 11,301
Fund recoveries and investment receivables	6,658	4,617
Advance on unrealized carried interest	4,517	4,454
Prepaid expenses	4,017	3,741
Other	3,744	2,103
Digital gold strategies	3,412	3,778
Total other assets	$ 37,787	$ 29,994

Other assets, income, expense_4

Other assets, income, expenses and non-controlling interest - Other income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest in Other Entities [Abstract]
Realization of a previously unrecorded contingent asset	$ 18,588	$ 0
Investment income	3,691	1,672
Income attributable to non-controlling interest	(934)	(522)
Total other income	$ 21,345	$ 1,150

Other assets, income, expense_5

Other assets, income, expenses and non-controlling interest - Other expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest in Other Entities [Abstract]
Costs related to the exit of non-core businesses	$ 5,142	$ 0
Other	3,894	5,537
Foreign exchange (gain) loss	3,212	4,654
Total other expenses	12,248	10,191
Profit (loss), attributable to non-controlling interests	$ (900)	$ (500)

Other assets, income, expense_6

Other assets, income, expenses and non-controlling interest - Non-controlling interests (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of associates [line items]
Assets	$ 378,835	$ 383,748
Liabilities - current	(21,449)	(25,752)
Non-controlling interests
Disclosure of associates [line items]
Assets	15,439	11,301
Liabilities - current	(133)	(211)
Liabilities - long-term	$ (15,306)	$ (11,090)

Property and equipment (Details

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	$ 12,496
Property, plant and equipment at end of period	10,856	$ 12,496
Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	30,927	32,506
Additions / Depreciation charge for the year	3,109	128
Disposals	(3,877)
Net exchange differences	842	(1,707)
Property, plant and equipment at end of period	31,001	30,927
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(18,431)	(16,027)
Additions / Depreciation charge for the year	(2,843)	(3,355)
Disposals	1,775
Net exchange differences	(646)	951
Property, plant and equipment at end of period	(20,145)	(18,431)
Artwork
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,089
Property, plant and equipment at end of period	7,259	7,089
Artwork | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	7,089	7,573
Additions / Depreciation charge for the year	0	0
Disposals	0
Net exchange differences	170	(484)
Property, plant and equipment at end of period	7,259	7,089
Artwork | Accumulated depreciation
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	310
Property, plant and equipment at end of period	284	310
Furniture and fixtures | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	2,823	2,981
Additions / Depreciation charge for the year	154	2
Disposals	(591)
Net exchange differences	404	(160)
Property, plant and equipment at end of period	2,790	2,823
Furniture and fixtures | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,513)	(2,579)
Additions / Depreciation charge for the year	(141)	(98)
Disposals	399
Net exchange differences	(251)	164
Property, plant and equipment at end of period	(2,506)	(2,513)
Computer hardware and software
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	180
Property, plant and equipment at end of period	271	180
Computer hardware and software | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	3,002	3,036
Additions / Depreciation charge for the year	224	126
Disposals	(189)
Net exchange differences	59	(160)
Property, plant and equipment at end of period	3,096	3,002
Computer hardware and software | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(2,822)	(2,882)
Additions / Depreciation charge for the year	(68)	(93)
Disposals	181
Net exchange differences	(116)	153
Property, plant and equipment at end of period	(2,825)	(2,822)
Leasehold improvements
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	840
Property, plant and equipment at end of period	1,253	840
Leasehold improvements | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	5,654	6,026
Additions / Depreciation charge for the year	1,157	0
Disposals	(413)
Net exchange differences	123	(372)
Property, plant and equipment at end of period	6,521	5,654
Leasehold improvements | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(4,814)	(4,570)
Additions / Depreciation charge for the year	(521)	(522)
Disposals	201
Net exchange differences	(134)	278
Property, plant and equipment at end of period	(5,268)	(4,814)
Right of use assets
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	4,077
Property, plant and equipment at end of period	1,789	4,077
Right of use assets | Cost
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	12,359	12,890
Additions / Depreciation charge for the year	1,574	0
Disposals	(2,684)
Net exchange differences	86	(531)
Property, plant and equipment at end of period	11,335	12,359
Right of use assets | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Property, plant and equipment at beginning of period	(8,282)	(5,996)
Additions / Depreciation charge for the year	(2,113)	(2,642)
Disposals	994
Net exchange differences	(145)	356
Property, plant and equipment at end of period	$ (9,546)	$ (8,282)

Goodwill and intangible asset_2

Goodwill and intangible assets - Reconciliation of intangible assets and goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	$ 197,762
Intangible assets and goodwill at end of period	202,051	$ 197,762
Cost
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	338,363	329,811
Additions and amortization charge for the period		20,410
Transfers		0
Net exchange differences	4,289	(11,858)
Intangible assets and goodwill at end of period	342,652	338,363
Accumulated amortization
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract]
Intangible assets and goodwill at beginning of period	(140,601)	(140,601)
Additions and amortization charge for the period	0	0
Intangible assets and goodwill at end of period	(140,601)	(140,601)
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	178,613
Intangible assets and goodwill at end of period	182,902	178,613
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	178,613	160,973
Additions and amortization charge for the period		20,410
Transfers		9,088
Net exchange differences	4,289	(11,858)
Intangible assets and goodwill at end of period	182,902	178,613
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	0
Intangible assets and goodwill at end of period	0	0
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	27,499	36,587
Additions and amortization charge for the period		0
Transfers		(9,088)
Net exchange differences	0	0
Intangible assets and goodwill at end of period	27,499	27,499
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	(27,499)	(27,499)
Additions and amortization charge for the period	0	0
Intangible assets and goodwill at end of period	$ (27,499)	$ (27,499)

Goodwill and intangible asset_3

Goodwill and intangible assets - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) cash_generating_unit	Dec. 31, 2022 USD ($)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Number of cash-generating units | cash_generating_unit	5
Goodwill	$ 19,149	$ 19,149
Intangible assets	202,051	197,762
Goodwill impairment	0
Managed equities
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	1,200	1,200
Exchange listed products
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Goodwill	17,900	17,900
Fund management contracts (indefinite life)
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	$ 182,902	$ 178,613
Fund management contracts (indefinite life) | Discount Rate
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Measurement input, discount rate (percent)	0.0925

Shareholders' equity - Capital

Shareholders' equity - Capital stock and contributed surplus (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Stated value
Equity at beginning of period	$ 277,271	$ 291,219
Shares acquired for equity incentive plan	(5,252)	(6,948)
Shares issued on exercise of stock options		1,127
Stock-based compensation	20,411	17,041
Shares issued on vesting of RSUs	(3,197)	(2,925)
Shares issued to purchase management contracts		4,000
Shares acquired and canceled under normal course issuer bid	(4,157)	(3,036)
Shares issued under dividend reinvestment program	(25,847)	(25,781)
Equity at end of period	$ 305,705	$ 277,271
Capital stock
Number of shares
Number of shares outstanding at beginning of period (shares)	25,325,894	24,991,620
Shares acquired for equity incentive plan (shares)	(154,131)	(180,594)
Shares issued on exercise of stock options (shares)		115,102
Shares released on vesting of equity incentive plan (shares)		324,568
Shares issued and released on vesting of RSUs (shares)	31,680	80,345
Shares issued to purchase management contract (shares)	331,672	72,464
Shares acquired and canceled under normal course issuer bid (shares)	(126,353)	(81,538)
Shares issued under dividend reinvestment program (shares)	1,389	3,927
Number of shares outstanding at end of period (shares)	25,410,151	25,325,894
Stated value
Equity at beginning of period	$ 428,475	$ 417,425
Shares acquired for equity incentive plan	(5,252)	(6,948)
Shares issued on exercise of stock options		1,807
Shares released on vesting of equity incentive plan	14,247	12,867
Shares issued on vesting of RSUs	1,402	2,210
Shares issued to purchase management contracts		4,000
Shares acquired and canceled under normal course issuer bid	(4,157)	(3,036)
Shares issued under dividend reinvestment program	49	150
Equity at end of period	434,764	428,475
Contributed surplus
Stated value
Equity at beginning of period	33,716	35,357
Shares issued on exercise of stock options		(680)
Stock-based compensation	20,411	17,041
Shares released on vesting of equity incentive plan	(14,247)	(12,867)
Shares issued on vesting of RSUs	(4,599)	(5,135)
Shares acquired and canceled under normal course issuer bid	0
Shares issued under dividend reinvestment program		0
Equity at end of period	$ 35,281	$ 33,716

Shareholders' equity - Stock op

Shareholders' equity - Stock option plan (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 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%
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 exercisable (shares)	12,500	12,500
Number of options exercisable (shares)	12,500	12,500
Weighted average share price (in CAD per share) | $ / shares	$ 27.30
Weighted average remaining contractual life of outstanding share options	2 years 4 months 24 days

Shareholders' equity - Equity i

Shareholders' equity - Equity incentive plan (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based compensation expense | $	$ 20.4	$ 17
RSU's
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of RSU's granted (shares)	63,128	372,000
Trust acquired shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares held by the Trust at the beginning of the period (shares)	630,431	774,405
Acquired (shares)	154,131	180,594
Released on vesting (shares)	(331,672)	(324,568)
Number of shares held by the Trust at the end of the period (shares)	452,890	630,431

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, 2023	Dec. 31, 2022
Numerator (in thousands $):
Net income - basic	$ 41,799	$ 17,632
Net income - diluted	$ 41,799	$ 17,632
Denominator (number of shares in thousands):
Weighted average number of common shares	25,892	25,923
Weighted average number of unvested shares purchased by the Trust	(662)	(857)
Weighted average number of common shares - basic	25,230	25,066
Weighted average number of dilutive stock options	13	13
Weighted average number of unvested shares under EIP	827	1,107
Weighted average number of common shares - diluted	26,070	26,186
Net income per common share
Basic net income per common share (in USD per share)	$ 1.66	$ 0.70
Diluted net income per common share (in USD per share)	$ 1.60	$ 0.67

Income taxes - Major components

Income taxes - Major components of income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Taxes [Abstract]
Based on taxable income of the current period	$ 8,060	$ 8,096
Adjustments in respect to previous years	(570)	(649)
Total current income tax expense	7,490	7,447
Origination and reversal of temporary differences	1,148	(187)
Adjustments in respect to previous years	(146)	187
Total deferred income tax expense (recovery)	1,002	0
Income tax expense reported in the consolidated statements of operations	$ 8,492	$ 7,447

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, 2023	Dec. 31, 2022
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Income before income taxes	$ 50,291	$ 25,079
Tax calculated at domestic tax rates applicable to profits in the respective countries	13,408	6,679
Non-deductible stock-based compensation	71
Non-deductible stock-based compensation		(21)
Non-taxable capital (gains) and losses	(3,377)	884
Adjustments in respect to previous years	(716)	(462)
Temporary differences not currently utilized and (not benefited previously)	(981)	318
Rate differences and other	87	49
Income tax expense reported in the consolidated statements of operations	$ 8,492	$ 7,447
Weighted average statutory tax rate (percent)	26.70%	26.60%
Unused tax losses for which no deferred tax asset recognised	$ 1,800	$ 1,100

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, 2023	Dec. 31, 2022
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	$ 7,706	$ 6,245
Deferred tax liabilities	14,250	13,273
Deferred tax liability (asset)	(6,544)	(7,028)
Recognized in income	3,805	1,637
Recognized in income	4,807	1,637
Recognized in income	(1,002)	0
Exchange rate differences	277	(176)
Exchange rate differences	485	(660)
Exchange rate differences	(208)	484
Deferred tax assets	11,788	7,706
Deferred tax liabilities	19,542	14,250
Deferred tax liability (asset)	(7,754)	(6,544)
Deferred tax assets net by legal jurisdiction	3,053	1,683
Deferred tax liabilities net by legal jurisdiction	10,807	8,227
Stock-based compensation
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	5,768	4,177
Recognized in income	1,090	1,928
Exchange rate differences	160	(337)
Deferred tax assets	7,018	5,768
Non-capital and capital losses
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	1,324	1,061
Recognized in income	2,742	344
Exchange rate differences	113	(81)
Deferred tax assets	4,179	1,324
Other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax assets	614	1,007
Recognized in income	(27)	(635)
Exchange rate differences	4	242
Deferred tax assets	591	614
Fund management contracts
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	14,796	13,732
Recognized in income	1,445	2,231
Exchange rate differences	598	(1,167)
Deferred tax liabilities	16,839	14,796
Unrealized gains (losses)
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	(2,249)	(978)
Recognized in income	3,197	(1,337)
Exchange rate differences	10	66
Deferred tax liabilities	958	(2,249)
Advance on unrealized carried interest
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	1,180	0
Recognized in income	(12)	1,231
Exchange rate differences	28	(51)
Deferred tax liabilities	1,196	1,180
Fixed assets and other
Reconciliation of changes in deferred tax liability (asset) [abstract]
Deferred tax liabilities	523	519
Recognized in income	177	(488)
Exchange rate differences	(151)	492
Deferred tax liabilities	$ 549	$ 523

Fair value measurements - Recur

Fair value measurements - Recurring fair value measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Disclosure of fair value measurement of assets [line items]
Assets	$ 378,835	$ 383,748
Recurring fair value measurements | Current investments
Disclosure of fair value measurement of assets [line items]
Assets	2,232	3,348
Recurring fair value measurements | Current investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	708	1,012
Recurring fair value measurements | Current investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	44	804
Recurring fair value measurements | Current investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	1,480	1,532
Recurring fair value measurements | Public equities and share purchase warrants
Disclosure of fair value measurement of assets [line items]
Assets	754	1,863
Recurring fair value measurements | Public equities and share purchase warrants | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	708	1,012
Recurring fair value measurements | Public equities and share purchase warrants | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	44	804
Recurring fair value measurements | Public equities and share purchase warrants | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	2	47
Recurring fair value measurements | Private holdings
Disclosure of fair value measurement of assets [line items]
Assets	1,478	1,485
Recurring fair value measurements | Private holdings | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Private holdings | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Private holdings | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	1,478	1,485
Recurring fair value measurements | Total Co-investments
Disclosure of fair value measurement of assets [line items]
Assets	93,528	73,573
Recurring fair value measurements | Total Co-investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	15,357	10,279
Recurring fair value measurements | Total Co-investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	78,171	63,294
Recurring fair value measurements | Total Co-investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Co-investments
Disclosure of fair value measurement of assets [line items]
Assets	93,528	73,573
Recurring fair value measurements | Co-investments | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	15,357	10,279
Recurring fair value measurements | Co-investments | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	78,171	63,294
Recurring fair value measurements | Co-investments | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	0	0
Recurring fair value measurements | Total Other assets
Disclosure of fair value measurement of assets [line items]
Assets	18,851	15,079
Recurring fair value measurements | Total Other assets | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	1,706	3,248
Recurring fair value measurements | Total Other assets | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	13,733	8,053
Recurring fair value measurements | Total Other assets | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	3,412	3,778
Recurring fair value measurements | Digital gold strategies
Disclosure of fair value measurement of assets [line items]
Assets	3,412	3,778
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	3,412
Recurring fair value measurements | Assets attributable to non-controlling interest
Disclosure of fair value measurement of assets [line items]
Assets	15,439	11,301
Recurring fair value measurements | Assets attributable to non-controlling interest | Level 1
Disclosure of fair value measurement of assets [line items]
Assets	1,706	3,248
Recurring fair value measurements | Assets attributable to non-controlling interest | Level 2
Disclosure of fair value measurement of assets [line items]
Assets	13,733	8,053
Recurring fair value measurements | Assets attributable to non-controlling interest | Level 3
Disclosure of fair value measurement of assets [line items]
Assets	$ 0	$ 0

Fair value measurements - Chang

Fair value measurements - Changes in fair value of Level 3 measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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	$ 100	$ 800
Percentage increase in unobservable input (percent)	5%	5%
Percentage decrease in unobservable input (percent)		5%
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss	$ 200	$ 300
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss	200	300
Recurring fair value measurements | Current investments | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	1,532	2,155
Purchases and reclassifications	48	(44)
Sales	(37)	0
Net unrealized gains (losses) included in net income	(63)	(579)
Financial assets at end of period	1,480	1,532
Recurring fair value measurements | Share purchase warrants | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	47	135
Purchases and reclassifications	48	(44)
Sales	(37)	0
Net unrealized gains (losses) included in net income	(56)	(44)
Financial assets at end of period	2	47
Recurring fair value measurements | Private holdings | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	1,485	2,020
Purchases and reclassifications	0	0
Sales	0	0
Net unrealized gains (losses) included in net income	(7)	(535)
Financial assets at end of period	1,478	1,485
Recurring fair value measurements | Total Other assets | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	3,778	7,060
Purchases and reclassifications	0	0
Sales	0	0
Net unrealized gains (losses) included in net income	(366)	(3,282)
Financial assets at end of period	3,412	3,778
Recurring fair value measurements | Digital gold strategies | Level 3
Changes in fair value measurement, assets [abstract]
Financial assets at beginning of period	3,778	7,060
Purchases and reclassifications	0	0
Sales	0	0
Net unrealized gains (losses) included in net income	(366)	(3,282)
Financial assets at end of period	$ 3,412	$ 3,778

Related party transactions (Det

Related party transactions (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Jun. 30, 2023 USD ($)
Disclosure of transactions between related parties [line items]
Fixed salaries and benefits		$ 4,655	$ 4,998
Variable incentive-based compensation		6,139	7,913
Share-based compensation		9,915	11,881
Remuneration of directors and other key management personnel		20,709	24,792
Charge taken on exit from non-core asset management business		$ 5,142	$ 0
Key management personnel of entity or parent | DSU Plan
Disclosure of transactions between related parties [line items]
Vesting period		3 years
Number of DSU's issued during the year (shares) | shares		15,782	16,820
Key management personnel of entity or parent | Non-core asset management business | Disposed of By Sale [Member]
Disclosure of transactions between related parties [line items]
Charge taken on exit from non-core asset management business	$ 3,600
Former management team | Canadian broker-dealer | Disposed of By Sale [Member]
Disclosure of transactions between related parties [line items]
Net assets				$ 6,300

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands						12 Months Ended
	Feb. 20, 2024	Nov. 28, 2023	Sep. 05, 2023	May 30, 2023	Mar. 21, 2023	Dec. 31, 2023
Disclosure of non-adjusting events after reporting period [line items]
Dividends paid, ordinary shares (in USD per share)		$ 0.25	$ 0.25	$ 0.25	$ 0.25
Total dividend amount		$ 6,458	$ 6,467	$ 6,482	$ 6,489	$ 25,896
Regular dividend declared
Disclosure of non-adjusting events after reporting period [line items]
Regular dividends declared (in USD per share)	$ 0.25

Risk management activities - Na

Risk management activities - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Assets	$ 378,835,000	$ 383,748,000
Cash	20,658,000	51,494,000
Other assets	37,787,000	29,994,000
Cash and cash equivalents	20,658,000	51,678,000	$ 49,805,000
Co-investment commitments	93,528,000	73,573,000
Reportable segments | Private strategies
Disclosure of detailed information about financial instruments [line items]
Co-investment commitments	$ 5,900,000	6,100,000
Price risk
Disclosure of detailed information about financial instruments [line items]
Percentage change in unobservable input (percent)	5%
Change in fair value measurement due to reasonably possible change in unobservable input, recognised in profit or loss	$ 5,000,000	4,000,000
Interest rate risk
Disclosure of detailed information about financial instruments [line items]
Current debt instruments held	$ 0	0
Foreign currency risk | US Dollars
Disclosure of detailed information about financial instruments [line items]
Percentage change in unobservable input (percent)	5%
Change in fair value measurement due to reasonably possible change in unobservable input, recognised in profit or loss	$ 4,900,000	3,900,000
Assets	73,200,000	55,200,000
Cash	9,700,000	12,900,000
Accounts receivable	6,800,000	4,000,000
Other assets	8,200,000	5,400,000
Liquidity risk
Disclosure of detailed information about financial instruments [line items]
Maximum borrowing capacity under borrowing facilities	75,000,000
Cash and cash equivalents	$ 20,700,000	$ 51,700,000
Liquidity risk | Cash and cash equivalents
Disclosure of detailed information about financial instruments [line items]
Proprietary investments, percentage	5%	13%
Liquidity risk | Current investments
Disclosure of detailed information about financial instruments [line items]
Cash and cash equivalents	$ 39,700,000	$ 32,000,000
Proprietary investments, percentage	40%	40%

Risk management activities - Re

Risk management activities - Remaining contractual maturities of financial liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Operating accounts payable	$ 11,749
Compensation payable	7,822
Contingent consideration on URNM acquisition	4,470
Lease obligation	2,096
Loan facility	24,237
Non-derivative financial liabilities, undiscounted cash flows	50,374
Less than 1 year
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Operating accounts payable	11,749
Compensation payable	7,822
Contingent consideration on URNM acquisition	4,470
Lease obligation	765
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	24,806
1-3 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Operating accounts payable	0
Compensation payable	0
Contingent consideration on URNM acquisition	0
Lease obligation	1,244
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	1,244
4-5 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Operating accounts payable	0
Compensation payable	0
Contingent consideration on URNM acquisition	0
Lease obligation	87
Loan facility	24,237
Non-derivative financial liabilities, undiscounted cash flows	24,324
More than 5 years
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Operating accounts payable	0
Compensation payable	0
Contingent consideration on URNM acquisition	0
Lease obligation	0
Loan facility	0
Non-derivative financial liabilities, undiscounted cash flows	$ 0

Segmented information - Company

Segmented information - Company Segment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Disclosure of operating segments [line items]
Number of reportable segments | segment	4
Total revenue	$ 169,021	$ 145,182
Total expenses	118,730	120,103
Income (loss) before income taxes	50,291	25,079
Adjusted base EBITDA	71,887	71,002
Reportable segments | Exchange listed products
Disclosure of operating segments [line items]
Total revenue	103,301	76,819
Total expenses	29,306	27,221
Income (loss) before income taxes	73,995	49,598
Adjusted base EBITDA	62,303	56,948
Reportable segments | Managed equities
Disclosure of operating segments [line items]
Total revenue	30,180	29,710
Total expenses	26,222	25,634
Income (loss) before income taxes	3,958	4,076
Adjusted base EBITDA	7,756	9,932
Reportable segments | Private strategies
Disclosure of operating segments [line items]
Total revenue	28,183	16,984
Total expenses	15,604	12,400
Income (loss) before income taxes	12,579	4,584
Adjusted base EBITDA	12,361	9,207
Reportable segments | Corporate
Disclosure of operating segments [line items]
Total revenue	(198)	(3,288)
Total expenses	33,776	31,246
Income (loss) before income taxes	(33,974)	(34,534)
Adjusted base EBITDA	(11,047)	(10,518)
Consolidation, elimination and all other segments | Consolidation, elimination and all other segments
Disclosure of operating segments [line items]
Total revenue	7,555	24,957
Total expenses	13,822	23,602
Income (loss) before income taxes	(6,267)	1,355
Adjusted base EBITDA	$ 514	$ 5,433

Segmented information - Revenue

Segmented information - Revenue by geographic location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Canada
Disclosure of geographical areas [line items]
Total revenue	$ 154,941	$ 130,397
United States
Disclosure of geographical areas [line items]
Total revenue	14,080	14,785
Total revenue	$ 169,021	$ 145,182

Loan facility (Details)

Loan facility (Details) $ in Millions, $ in Billions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Nov. 13, 2020
Revolving Credit Facility Maturing December 14, 2025
Disclosure of detailed information about borrowings [line items]
Amounts outstanding on Company's credit facility	$ 24.2	$ 15.4	$ 54.4
Maximum borrowing capacity under borrowing facilities	$ 75
Term of credit facility	5 years
Revolving Credit Facility Maturing December 14, 2025 | Bottom of range
Disclosure of detailed information about borrowings [line items]
Covenant terms - EBITDA to interest expense				2.5
Revolving Credit Facility Maturing December 14, 2025 | Top of range
Disclosure of detailed information about borrowings [line items]
Covenant terms - debt to EBITDA				2.5
Revolving Credit Facility Maturing December 14, 2025 | U.S. Prime Rate
Disclosure of detailed information about borrowings [line items]
Basis spread on floating rate (percent)	1.05%	1.05%
Revolving Credit Facility Maturing December 14, 2025 | Canadian Prime Rate
Disclosure of detailed information about borrowings [line items]
Basis spread on floating rate (percent)	0.55%	0.55%
Loan Facility
Disclosure of detailed information about borrowings [line items]
Repayments of current borrowings	$ 30.2

Commitments and provisions (Det

Commitments and provisions (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Less than 1 year
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Co-investment commitments	$ 4	$ 5.7
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
Co-investment commitments	4	5.7
Later than one year
Other Provisions, Contingent Liabilities and Contingent Assets [Abstract]
Co-investment commitments	1.9	0.4
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items]
Co-investment commitments	$ 1.9	$ 0.4