HANetf and Purpose Investments partner for first European cannabis ETF

Focus on medical cannabis

Purpose Investments have launched Europe’s first medical cannabis-focused ETF, The Medical Cannabis and Wellness UCITS ETF, through HANetf’s white-label platform.

The fund will launch on 13 January on Deutsche Boerse, making it the first and only European UCITS ETF to "deliver targeted exposure to the rapidly expanding medical cannabis industry", the firms said. The fund will track the rules-cased Medical Cannabis and Wellness Equity Index, provided by Solactive. It will be domiciled in Ireland and has been passported for sale in the UK and Italy. As of 2018, the global medical cannabis market size was $13.4bn, which is predicted to rise to $148bn by 2026, according to Reports and Data. The UK itself is now the largest producer and export...