The firm is offering the first platform-traded fund to have exposure to the cannabis market
Canada’s first and only fund distribution platform for purchasing and redeeming mutual funds as simply as ETFs, has welcomed a new fund from Ninepoint Partners.
Series PTF securities of the Ninepoint Alternative Health Fund are now available on the NEO Connect platform under the symbol ALTHE. Ninepoint’s alternative health fund primarily invests in equity securities of companies engaged in nutrition, nutraceuticals, and new firms of medicines and pharmaceutical solutions including Canadian licensed producers of marijuana and related service providers.
James Fox
“In today’s world, we see increasing demand for alternative healthcare, especially driven by aging demographics and today’s legalization of Cannabis in Canada,” said James Fox, Co-CEO and managing partner at Ninepoint Partners. ““Our Alternative Health PTF gives investment advisors and their clients access to an early stage growth sector, while aiming to reduce the fund’s volatility risk through the active management of our Faircourt Asset Management sub-advisor team.”
With the launch of ALTHE, Ninepoint has become the fourth fund manufacturer to distribute its products on the NEO Connect platform, and the second participant to offer PTFs. Aside from requiring no minimum investment, PTFs allow for bulk trading, letting advisor purchase and redeem units with the same ease and efficiency they experience trading ETFs, with trade orders being executed at the end of the day at NAV without bid/ask spreads.
Jos Schmitt
“The Ninepoint Alternative Health PTF is the first PTF with exposure to the Cannabis market, and it is exclusively available on our NEO Connect platform,” said NEO President and CEO Jos Schmitt. “We very much welcome this outside-the-box thinking from Ninepoint and are pleased we can make their innovative product available to our ever-growing community of NEO Connect users.”
The NEO Connect platform now distributes 48 funds from four asset managers across 15 dealer networks.
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