Horizons ETFs Management (Canada) Inc. is set to launch its second marijuana-focused fund, this time tapping into small-cap companies in the industry.
With the ticker HMJR, the Horizons Emerging Marijuana Growers Index ETF seeks to replicate the performance of the Emerging Marijuana Growers Index. The underlying index is designed to provide exposure to the performance of a basket of primarily North American publicly listed small-capitalization companies primarily involved in the cultivation, production and/or distribution of marijuana.
Stocks within the Index generally must have a market capitalization greater than $50-million but less than $500-million for initial inclusion.
"HMJR will give investors direct exposure to a growing group of Canadian and global marijuana cultivation and distribution companies," said Steve Hawkins, President and Co-CEO of Horizons ETFs in a statement. "Marijuana producers are generally well-positioned to take part in the anticipated global expansion of the marijuana sector."