Following the success of the first cannabis-focused exchange-traded fund (ETF), the Horizons Medical Marijuana Life Sciences ETF (TSX: HMMJ) (OTC: HMLSF), which has quickly exceeded C$120mm in assets since its launch in April, Cambria ETF Trust has filed a preliminary prospectus Form N-1A with the SEC to register the Cambria Marijuana Industry ETF. The seven-person firm Cambria Investment Management, based in El Segundo, California, will serve as Investment Adviser, with Mebane Faber and Eric W. Richardson as the portfolio managers. The company currently manages nine ETFs and, in addition to the proposed cannabis ETF, has filed to introduce four others as well.
The preliminary prospectus has few details, but Cambria has secured the NYSE trading symbol “TOKE” for the fund, which has an objective of “capital appreciation from investments in the global equity markets that have exposure to the broad marijuana industry.” The type of companies in which the ETF intends to invest is much less restrictive than the Horizons ETF. Unlike HMMJ and the still pending ETF from ETF Managers announced in February that both included a customized index managed by Soloactive, Cambria, an actively managed ETF, won’t be tracking an index.
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Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV.
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