Horizons ETFs Completes Rebalance of its Marijuana Life Sciences Index ETF
TORONTO, March 19, 2018 /CNW/ – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (“HMMJ”) on March 16, 2018. As a result, 10 new companies have been added to HMMJ’s portfolio.
HMMJ was the first and is the world’s largest ETF offering direct exposure to North American-listed securities that are involved with marijuana bioengineering and production.
The HMMJ portfolio recently expanded to include the following constituents:
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index (the “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. The Index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bio-products and other ancillary businesses related to the marijuana industry.
One of the key benefits of HMMJ is its diversification – providing access to a broad cross-section of stocks involved in the marijuana sector. It’s exciting to see an increase in the number of investable companies that qualify to be included in HMMJ’s portfolio. As we move closer to the Canadian government legalizing the recreational use of marijuana, we continue to watch the Cannabis sector rapidly grow in size and breadth.
Steve Hawkins, President and Co-CEO of Horizons ETFs
Rebalancing of the Index, and consequently HMMJ, occurs each calendar quarter. At that point, all stocks eligible for inclusion in the Index are weighted by their respective market capitalization. However, no single stock can exceed 10% of the weight of the Index at the rebalance date. The holdings of HMMJ and its current portfolio weights are regularly updated on our website at www.HorizonsETFs.com/HMMJ.
It is important to note that HMMJ may not hold all of the constituent names in the Index. HMMJ’s manager, through the use of a stratified sampling strategy, may invest in securities that closely match the investment characteristics of the Index, and are consistent with HMMJ’s investment objective and strategy.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has approximately $10 billion of assets under management and 82 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
About Solactive (www.solactive.com)
Solactive AG is an innovative index provider that focuses on the development, calculation and distribution of tailor-made indices over all asset classes. The company was established in 2007 and is headquartered in Frankfurt, Germany. Over 350 international clients, including major investment banks, ETF providers and asset managers have embraced Solactive’s mutually attractive investment ideas. As at March 2018, more than 350 ETFs are linked to Solactive’s indices and over USD $100 billion is invested in products linked to indices calculated by Solactive.