Evolve Funds Group Inc. plans to launch an actively managed marijuana ETF, the Toronto-based investment manager announced Friday.
Evolve has filed a preliminary prospectus with Canadian securities regulators for The Marijuana ETF (SEED).
The ETF is designed to provide Canadian investors with long-term capital appreciation by actively investing in a diversified mix of equity securities of companies listed domestically and globally, with business activities in the recreational and/or medical marijuana industry.
"Globalization could be the next wave of growth in the marijuana industry," says Raj Lala, president and CEO of Evolve, in a statement. "SEED is a way for investors to benefit from active management, as the marijuana industry continues to develop domestically and globally."
The ETF may invest in equity securities of companies listed domestically and globally, and other companies, with business activities in the recreational and/or medical marijuana industry.
SEED has a management fee of 0.75%.
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