Investors gain another entry to marijuana investing thanks to the launch of a new actively managed fund. Foothill Capital Management announced the launch of its new open-end mutual fund, the “Cannabis Growth Fund” (CANNX), on Tuesday (February 26). Eric Banhazl, chairman of Foothill Capital Management, said the firm sees cannabis as still in its infancy stage, but that its potential growth makes it worthwhile to open this fund. The fund will be managed by Korey Bauer, a managing director with the firm. Since 2015 Bauer has been co-managing the All Terrain Opportunity Fund (TERIX). “We believe active management is critical when investing in an industry that has frequent and evolving developments in regulation, applications, and acquisition activity.” The fund from the Arizona-based firm will charge a 0.85 percent fee for management services. According to the prospectus for the new fund, the core investment strategies will hone in eight specific business types: Agriculture technology Ancillary products and services Biotechnology Cannabis products and extracts Consulting services Consumption devices Cultivation and retail Industrial hemp Investors can expect this fund to pursue operations all across the globe where cannabis is legal.
Hemp Land, Cannabis Hemp Blog, 05/07/2022 06:18:00
Open article: https://hempland.net/us-based-actively-managed-marijuana-fund-launches/