Toronto-based investment firm Redwood Asset Management, a subsidiary of Purpose Investments, has listed the Marijuana Opportunities fund on Toronto's NEO exchange.
The ETF, providing exposure to global issuers with interest in marijuana or marijuana-related industries, will be actively managed by Greg Taylor.
"The fund represents another important new frontier for investors. We strongly believe the Fund's institutional-style active approach - which will include fundamental and technical analysis, the ability to sell short, and tactical management of cash to take advantage of volatility in valuations - offers a better way to participate in the significant growth potential of the cannabis market," said Taylor.
Peter Shippen, president and CEO of Redwood Asset Management, highlighted that the marijuana market is rising quickly, in particular with the expected legalisation of recreational use in Canada this year.
"While passive funds to date have provided investors with broad access to the market, the significant volatility of the sector and the ongoing evolution of the regulatory environment of cannabis space have made active management the preferable way to invest," he added.
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