A portfolio manager doesn’t expect to see additional marijuana-centered funds due to lack of demand. Nawan Butt, portfolio manager with Purpose Investment, told the Investing News Network (INN) despite the success of managed funds with a direct focal point in pot stocks, he isn’t sure there is a lot of money available for more funds. “There’s really no more flow of money into the space right now, everyone seems to have just paused,” he said. Butt described the landscape of marijuana funds as “limiting” when asked about the possibility of Purpose Investment launching a second fund in addition to its Purpose Marijuana Opportunities Fund (NEO: MJJ). “I don’t think there’s enough demand, just right now,” the portfolio manager said. However, one catalyst that he expects could change this outlook is the legalization of cannabis in the US. With the growth and establishment of the marijuana landscape, the potential entry of institutional investors has intrigued companies and observers of the market. He told INN Purpose Investment has noticed “a lot more institutional investment behind marijuana.” Butt highlighted the entry of the California Public Employees’ Retirement System.
Hemp Land, Cannabis Hemp Blog, 03/21/2022 14:37:00
Open article: https://hempland.net/dont-expect-more-cannabis-funds-says-portfolio-manager/