A large Canadian pension manager unloaded some cannabis investments over the past couple of years while raising its holdings in licensed producers Aphria and Aurora Cannabis, according to regulatory filings with the U.S. Securities and Exchange Commission. Public Sector Pension Investment Board (PSP) filings show that the pension manager did not shy away from adding cannabis stocks to its portfolio despite the young sector’s high volatility. PSP – one of the country’s largest managers of pension investments – halved its stake in Canopy Growth between 2018 to 2020. The board held 232,249 Canopy shares at the end of 2020, about 50% lower compared to the same period in 2018. The fund had about 170 billion Canadian dollars ($135 billion) of net assets under management as of March 2020. PSP invests funds for the pension plans of Canada’s public service and military, among others.

Marijuana Business Daily, 02/24/2021 14:40:00

Open article: https://mjbizdaily.com/canadian-pension-fund-unloads-some-cannabis-shares-adds-aphria/