“The medical cannabis industry was pioneered in Canada, and we’re thrilled with the opportunity to partner with HANetf to take what we have learned from our Purpose Marijuana Opportunities Fund (MJJ) to Europe. …We are very excited to embark on this journey with HANetf in a global investor market.”

- Som Seif, CEO, Purpose Investments (Jan 2020)

Purpose Investments

Purpose Investments is an asset management company with over $8 billion in assets under management across a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial.

Purpose sought to expand their international footprint in the high growth European market with a the first UCITS ETF in one of their areas of expertise – Cannabis.

Working in close collaboration with legal and regulatory experts HANetf managed a complex ecosystem of counterparties, with various regulatory approaches and legal attitudes towards medical cannabis to develop an approach and methodology that was transparent, compliant and representative of the nascent medical cannabis industry. 

On 14th January 2020, HANetf and Purpose Investments announced the listing of the Medical Cannabis and Wellness UCITS ETF (CBDX) on XETRA - a first for Europe. HANetf, Purpose and the exchange. This was closely followed by listings on the London Stock Exchange and passporting to the Italian market. 

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