Article – Financial Times (UK) High demand prompts launch of Europe’s first cannabis ETF

Article – Financial Times (UK) High demand prompts launch of Europe’s first cannabis ETF

We don’t usually report these pieces but as it is in the FT the information is probably worth the once over. Here’s their introduction to the piece European savers will soon be offered their first opportunity to invest in an exchange traded fund focused on the fast-growing legal marijuana industry. Canadian fund group Purpose Investments plans to launch the Medical Cannabis and Wellness ETF from January 13, which will be Europe’s first such product. The fund will be listed in Germany and made available to investors in the UK, Italy and Ireland. Marijuana funds have proved popular in North America, despite a poor year for the sector. The world’s largest cannabis ETF, the US-listed ETFMG Alternative Harvest, which has $673m of assets according to data compiler ETFGI, lost 28.5 per cent last year. The second largest fund, the $327m Horizons Medical Marijuana Life Sciences ETF, listed in Canada, lost 33.8 per cent. Purpose, which manages C$8bn of assets in Canada including the C$34.2m Marijuana Opportunities Fund, worked with ETF issuer HANetf on the European launch. The fund will charge 80 basis points, or 80 cents for every €100 committed, and invest in public companies with legal activities in the medical…

Excerpt only …
READ MORE BELOW
Source : CANNANNEW REPORT
Link to original : Article – Financial Times (UK) High demand prompts launch of Europe’s first cannabis ETF
reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.