Exchange-traded fund enables Canadian investors to bet on marijuana industry

Most investors have heard of funds that track various stock indices.

TRAVIS LUPICK

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Most investors have heard of funds that track various stock indices.

But there’s also a TSX-listed exchange-traded fund focused on the soon-to-be legal cannabis trade.

The Horizons Medical Marijuana Life Sciences ETF has investments in 14 publicly traded companies linked to marijuana.

According to its website, its stake didn’t exceed 10 percent in any individual company, as of April 4.

‘The investment objective of the ETF is to seek to replicate, to the extent possible, the performance of the North American Medical Marijuana Index, net of expenses,’ the company states in its summary document. ‘The North American Medical Marijuana Index is designed to provide exposure to the performance of a basket of North American publicly listed companies with significant business activities in the marijuana industry.’

On Thursday (April 13), the Justin Trudeau–led government will unveil its much-anticipated marijuana-legalization legislation.

It comes a week in advance of Vancouver’s annual 4/20 celebration, which organizers plan on holding at Sunset Beach.

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