Investor apathy prompts shutdown of Canada’s first gender-diversity ETF GlobeBusiness
This translation has been automatically generated and has not been verified for accuracy.Canadian asset manager Evolve Funds Group Inc. is shuttering three of its niche investment funds, including a pioneering gender-diversity exchange-traded fund that failed to draw investor interest.
There are four gender-focused funds in Canada, all struggling to draw investor interest. Despite major financial companies such as Goldman Sachs announcing they would not support companies that did not improve their gender-diversity policies and practices, investors have not flocked to the concept. Evolve first entered the sector in February, 2018. SEED had just less than $6-million in assets as of Jan. 24, while USMJ had about $2-million. At one point, SEED was the best-performing pot ETF in the country, hitting a high of $30.66 a unit after it initially launched at $20.48. It is currently trading at $11.61, as of Jan. 27.
However, he said the crisis over vaping-related health problems"has stalled any of the U.S presidential candidates from putting cannabis legalization on any of their platforms for election or re-election.”
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