TORONTO, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Redwood Asset Management Inc. ("Redwood"), a wholly owned subsidiary of Purpose Investments Inc. (“Purpose”) is very pleased to announce the launch of Marijuana Opportunities Fund (“the Fund”), the world’s first actively managed, marijuana-focused ETF. Redwood has completed the initial public offering of ETF shares and the Fund will commence trading on the Aequitas NEO Exchange today under the ticker symbol “MJJ”. The Fund is also available in mutual fund Series A (RAM1420) and Series F (RAM2420) through Fundserv.
“We are thrilled to be able to offer Canadians the first actively managed ETF with an exclusive focus on the burgeoning cannabis industry,” said Peter Shippen, President and Chief Executive Officer of Redwood Asset Management. “The marijuana market is growing quickly, particularly with the expected legalization of recreational use in Canada this year. While passive funds to date have provided investors with broad access to the market, the significant volatility of the sector and the ongoing evolution of the regulatory environment of cannabis space have made active management the preferable way to invest.”
Marijuana Opportunities Fund will be managed by leading Portfolio Manager Greg Taylor, CFA, and will benefit significantly from the breadth and depth of expertise of the broader team at Purpose, both as ETF pioneers and as innovative investment managers focused on building products designed to help Canadians achieve their investment goals.
“MJJ represents another important new frontier for investors,” said Mr. Taylor. “We strongly believe the Fund’s institutional-style active approach – which will include fundamental and technical analysis, the ability to sell short, and tactical management of cash to take advantage of volatility in valuations – offers a better way to participate in the significant growth potential of the cannabis market.”
Marijuana Opportunities Fund
Marijuana Opportunities Fund aims to generate attractive long-term capital growth by investing in global issuers with interest in marijuana or marijuana-related industries.
Information on this fund can be found at https://www.redwoodasset.com or by speaking with your investment advisor.
About Redwood Asset Management
Redwood Asset Management is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management is a wholly owned subsidiary of Purpose Investments Inc., which has over $4.9 billion in assets under management. More information about Redwood's product offerings is available at www.redwoodasset.com.
For more information please contact:
Peter Shippen
President & CEO, Redwood Asset Management
T: 416.304.6811
pshippen@redwoodasset.com
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.