Horizons ETFs Management has completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (TSX) and the Horizons Emerging Marijuana Growers Index ETF (NEO).
HMMJ is the world’s first and largest ETF offering direct exposure to North American publicly listed life sciences companies with significant business activities in the marijuana industry. Once again, the ETF has added more companies to its portfolio as more firms have become eligible for inclusion in its underlying index – the North American Marijuana Index.
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index, net of expenses. This index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry. The index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bio-products and other ancillary businesses related to the marijuana industry.
“The HMMJ portfolio continues to grow as more companies achieve a size and scale that allows them to be eligible for inclusion in the North American Marijuana Index,” says Steve Hawkins, President and Co-CEO of Horizons ETFs. “Now that we have confirmed that the official start-date of recreational marijuana legalization will commence on October 17, 2018, we expect that more companies in Canada will continue to ramp-up their marijuana-focused activities over the next quarter.”