Purpose Investments launches first European cannabis ETF

Canadian asset manager Purpose Investments has launched a Ucits medical exchange-traded fund (ETF) in what has been called a first for the European market.

Available via the UK-based ETF infrastructure provider HANetf, the fund offers investors targeted exposure to the medical cannabis industry.

The industry – which develops products for the treatment of conditions such as cancer, epilepsy, and chronic pain – has huge growth potential, according to HANetf co-founder Hector McNeil.

As of 2018, the global medical cannabis market size was $13.4 billion (€11.96 billion). The industry’s market value is expected to reach $148 billion by 2026, HANetf said.

McNeil said: “Until now, European investors have experienced restricted access to the cannabis market.”

The Medical Cannabis and Wellness Ucits ETF (CBSX), which goes live on Deutsche Boerse on January 13, is domiciled in Ireland and has been passported for sale in the UK and Italy.

Som Seif, chief executive of Purpose Investments, said: “We believe that the cannabis sector is still in the infancy stages of a multi-year growth phase and that there is ample opportunity for innovation and new discoveries.”

Purpose Investments managed 8 billion Canadian dollars (€5.5 billion) of assets.

©2020 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST