Bringing you live news and features since 2006 

Redwood launches actively managed, marijuana-focused ETF

RELATED TOPICS​

Redwood Asset Management (Redwood), a wholly owned subsidiary of Purpose Investments, has launched the Marijuana Opportunities Fund, an actively managed, marijuana-focused ETF.

Redwood has completed the initial public offering of ETF shares and the Fund is trading on the Aequitas NEO Exchange under the ticker symbol “MJJ”. The Fund is also available in mutual fund Series A (RAM1420) and Series F (RAM2420) through Fundserv.
 
“We are thrilled to be able to offer Canadians the first actively managed ETF with an exclusive focus on the burgeoning cannabis industry,” says Peter Shippen, President and Chief Executive Officer of Redwood Asset Management. “The marijuana market is growing quickly, particularly with the expected legalisation of recreational use in Canada this year. While passive funds to date have provided investors with broad access to the market, the significant volatility of the sector and the ongoing evolution of the regulatory environment of cannabis space have made active management the preferable way to invest.” 
 
Marijuana Opportunities Fund will be managed by leading Portfolio Manager Greg Taylor, CFA, and will benefit significantly from the breadth and depth of expertise of the broader team at Purpose, both as ETF pioneers and as innovative investment managers focused on building products designed to help Canadians achieve their investment goals.
 
“MJJ represents another important new frontier for investors,” says Taylor. “We strongly believe the Fund’s institutional-style active approach – which will include fundamental and technical analysis, the ability to sell short, and tactical management of cash to take advantage of volatility in valuations – offers a better way to participate in the significant growth potential of the cannabis market.”

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by