Toronto-based Horizons ETFs Management (Canada) Inc. has completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (HMMJ) on Dec.15, the company announced Monday. As a result, 11 new holdings have been added to ETF’s portfolio.
The ETF seeks to replicate, to the extent possible, the performance of the North American marijuana index, net of expenses. The index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry.
“Cannabis has been one of the newest and fastest-growing asset classes of 2017, presently valued at approximately $23 billion,” says Steve Hawkins, president and co-CEO of Horizons ETFs, in a statement. “The continued expansion of HMMJ’s index and portfolio demonstrates how quickly this sector has evolved and why it should be considered a long-term, domestic investment opportunity for Canadian investors.”
The rebalance was in conjunction with the recently announced index rebalance by Germany-based Solactive AG, the index provider.
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