Evolve Funds Group Inc. (Evolve ETFs) announced Jan. 12 that it has filed a preliminary prospectus with Canadian securities regulators for an actively managed marijuana ETF, The Marijuana ETF ("SEED").
Evolve ETFs says SEED would be Canada’s first actively managed marijuana ETF. It is designed to provide investors with long-term capital appreciation by actively investing in a diversified mix of equity securities of issuers that are involved in the marijuana industry.
SEED may invest in equity securities of companies listed domestically and globally, and other companies which have business activities in the recreational and/or medical marijuana industry.
Next wave of growth
"Globalization could be the next wave of growth in the marijuana industry," said Raj Lala, President & CEO of Evolve ETFs. "SEED is a way for investors to benefit from active management, as the marijuana industry continues to develop domestically and globally."