Hazlet, New Jersey (February 26, 2019)—PRESS RELEASE—Foothill Capital Management, a specialized asset management firm focused on emerging, innovative and fast-growing markets, has announced the launch of the Cannabis Growth Fund (Ticker: CANNX).
The Fund, one of the first open-end mutual funds to invest primarily in companies related to the cannabis industry, seeks to provide investors access to the quickly growing industry.
“We are excited to provide investors and advisors who serve them with access to an exciting, growing industry,” said Eric Banhazl, chairman of Foothill Capital Management. “There has been an extraordinary level of attention due to its wide application in the medicinal, consumer and recreational arenas. We believe that the cannabis industry is in its infancy stages and that the potential growth runway represents a compelling investment opportunity.”
“The Cannabis Growth Fund offers investors professional portfolio management, which we believe is important in a rapidly changing industry,” stated Korey Bauer, portfolio manager of the Cannabis Growth Fund. “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 plans to invest primarily in exchange listed equity securities of companies in the cannabis industry. These companies are located around the globe and engaged exclusively in legal activities under national and local laws, including U.S. federal and state law, as applicable. Many companies that the Fund seeks to hold legally participate in activities including agriculture technology, biotechnology, cultivation and retail, products and extracts, industrial hemp, and ancillary products and services that complement the cannabis industry. In addition, the manager has the flexibility to invest in options in an attempt to enhance the Fund’s return and reduce volatility.
Published at Thu, 07 Mar 2019 21:34:00 +0000