FT'S LEX COLUMN
THE LEX COLUMN: Canadian fund to launch cannabis ETF in Europe
Investments in the medical cannabis market may cause anxiety
Roll up! European savers are invited to savour a novel investment opportunity focused on the marijuana industry. The pioneering Medical Cannabis and Wellness exchange traded fund (ETF) is coming to the continent via Canadian fund group Purpose Investments.
Those buying a stake in the fund — which is set to invest in public companies with legal activities in the medical cannabis market — should brace themselves for a rollercoaster ride. Similar funds dropped nearly a third in 2019 after the smoke came out of an overhyped market. Cannabis investments sometimes look a bit like cryptocurrencies, and not just because of the anti-establishment vibe.