Foothill Capital Management Announces the Cannabis Growth ETF
GLENDORA, Calif.--(BUSINESS WIRE)--Foothill Capital Management www.foothillcap.com announced today the conversion of its Cannabis Growth Fund (CANIX), which launched in 2019, into the Cannabis Growth ETF (BUDX) www.cannabisgrowthfunds.com.
The specialized asset manager believes that the new structure could bring investors all the potential benefits of focused exposure to the dynamic and growing scope of cannabis, combined with the accessibility, flexibility and costs of an active ETF.
“We decided to embrace the ETF as we believe it could be the best vehicle to bring investors a product with lower expenses, intraday trading, lower transaction costs and greater tax efficiency,” said Eric Banhazl, Chairman of Foothill Capital.
The Cannabis Growth ETF will be traded on the NYSE™, and will pursue the identical investment objective, apply the same investment policies and use the same principal investment strategies as the Fund.
About Foothill Capital
Foothill focuses on markets we view as innovative, fast-growing, or emerging to provide investors with an aggressive growth component in their equity portfolios. The Cannabis Growth ETF will provide exposure to a sector undergoing global legalization, expanded medical and recreational use, and robust M&A activity.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from 888.885.0588. Please read the prospectus carefully before you invest.
Investing involves risk, including possible loss of principal. The cannabis industry is subject to rapidly evolving laws, rules and regulations, and increasing competition which may cause such companies to change business model, shrink or suddenly close. These may limit access to banks, and create significant burdens on company resources due to litigation, enforcement actions, receipt of necessary permits and authorizations to engage in medical cannabis research or to otherwise cultivate, possess or distribute cannabis. Possession and use of cannabis is illegal under federal and certain states’ laws, which may negatively impact the value of Fund investments.
Where legalized by states, cannabis possession and use remains a violation of federal law. The companies in which the Fund invests are subject to various laws and regulations relating to the manufacture, management, transportation, storage and disposal of cannabis, including health and safety, conduct of operations, and environmental protection. Even if a company’s operations are permitted under current law, they may not be permitted in the future, and a company may not be able to continue operations in its current location. Controlled substance legislation differs significantly between countries and may limit a company’s ability to sell products. Please see the prospectus for details of these and other risks.
Distributed by IMST Distributors, LLC. Foothill Capital Management is not affiliated with IMST Distributors.
Contacts
Max Banhazl
Managing Director – Sales and Marketing
1-626-385-5791
max.banhazl@foothillcap.com