A Swedish state-owned pension fund has invested in cannabis businesses for the very first time.
A lot more government-run pension funds are dipping into substantial-cap cannabis stocks, a sign that such investments are going much more mainstream.
Canada’s Public Sector Pension Investment Board lately boosted its stake in Ontario’s Canopy Development and took positions in 3 much more multinational Canadian marijuana firms.
The Swedish fund, AP7, is viewed as a greater danger – and potentially greater – return investment.
AP7 picked up shares in Alberta-primarily based Aurora Cannabis and Canopy in 2018, the Stockholm-primarily based enterprise magazine Affärsvärlden reported.
The Canadian licensed cannabis businesses have been integrated just after getting added to Morgan Stanley Capital International’s All Nation Planet Index (MSCI ACWI), an AP7 fund spokesperson told the magazine.
AP7 invests in all MSCI ACWI businesses, “with one particular exception – the businesses we blacklist,” the spokesperson stated.
Canopy Growth’s shares trade on the New York Stock Exchange (NYSE) beneath the ticker symbol CGC and on the Toronto Stock Exchange (TSX) as WEED.
Aurora trades as ACB on the NYSE and TSX.