Horizons applies to list medical marijuana ETF

By Staff | February 27, 2017 | Last updated on February 27, 2017
1 min read

On February 21, 2017, Horizons ETFs Management filed the preliminary prospectus to list a medical marijuana ETF on the TSX.

Read: Echelon Wealth to advise medical cannabis producer

The Horizons Medical Marijuana Life Sciences ETF (HMMJ) would seek to replicate the performance of the North American Medical Marijuana Index, net of expenses. The index provides exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry. The prospectus notes investors in HMMJ would incur the risk of transacting on smaller exchanges, which can have less liquidity, higher volatility, higher transaction fees than major exchanges. There could also be settlement delays.

The ETF would be unhedged, and the annual management fee would equal 0.75% of its net asset value, plus applicable sales tax.

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Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.