TORONTO, Jan. 14, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Purpose Investments Inc. has launched the Medical Cannabis & Wellness UCITS ETF, representing Purpose’s first offering in the European market. The fund is being made available through Purpose’s partnership with HANetf, an independent European ETF specialist backed by renowned investor Steve Cohen’s Point72 Ventures.
The first of its kind for European investors, the fund listed Jan. 14 on the Deutsche Boerse XETRA exchange in Germany. It will be listed on the London Stock Exchange in the UK and the Borsa Italiana in Italy later this month.
“The medical cannabis industry was pioneered in Canada, and we’re thrilled with the opportunity to partner with HANetf to take what we have learned from our Purpose Marijuana Opportunities Fund (MJJ) to Europe. 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. We are very excited to embark on this journey with HANetf in a global investor market,” said Som Seif, CEO and founder of Purpose Investments.
The fund offers European investors unique exposure to the global medical cannabis market and the CBD wellness sector. Additionally, the fund invests in ancillary services that support companies within the medical cannabis and CBD categories.
“Up until now, European investors have experienced restricted access to the cannabis market. With the launch of this truly innovative ETF, there is now a product for investors who want exposure to the cannabis industry through a pre-screened basket of cannabis securities and in a regulated UCITS ETF. Due to the operational and legal due diligence that has gone into developing this truly innovative ETF, investors can readily access an investment vehicle which can significantly reduce their legal risk versus investing directly in single cannabis securities. It is also is a great way to diversify as investors don’t need to research each individual security and the ETF may help to withstand the short-term volatility of individual securities, potentially making for a lower risk, longer-term investment,” said Hector McNeil, co-founder and co-CEO of HANetf.
For more information on the Fund, please visit https://www.hanetf.com/product/6/fund/the-medical-cannabis-and-wellness-ucits-etf-acc.