Launch of the first legal cannabis fund on the Toronto Stock Exchange
Last week, the first cannabis-focused ETF was launched in Toronto amid much fanfare. A brief explanation is in order for those interested in investing in cannabis.
An ETF?
What is an ETF? This acronym stands for «exchange-traded funds»; it is the French equivalent of UCITS. “That doesn’t really clarify things much,” you might say… To put it simply, it’s an investment fund focused on a specific industry—in our case, cannabis. It uses complex mathematical tools to replicate the performance of the stocks in its portfolio.
What is it for?
In the case of’Horizons Medical Marijuana Life Sciences ETF, this allows investors to invest directly in the entire cannabis sector without having to conduct endless research on every company operating in the cannabis market. The portfolio manager at HMMJ has selected 16 companies in the sector and allocated them according to the following proportions. Its objective is medium- to long-term management and performance. Among these 16 companies are the giants Canopy Growth and GW Pharmaceuticals.
I'm French. Can I invest?
Even though the substance remains illegal in France, there’s nothing stopping you from investing in cannabis companies on the stock market (there are nearly 400 listed on the OTC, Nasdaq, TSX, etc.). As for this ETF, French citizens can invest in it, but not through a PEA and its tax treatment (HMMJ is primarily composed of U.S. and Canadian stocks), but a simple brokerage account will get you started.
So, who's paying?
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April 15, 2017 at 14 h 36 min
Hello, could you please tell me (by email if necessary) the complete steps to get started?
Best regards,
T.
Helen Vanessa Estrada
28 April 2017 at 9 h 44 min
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