First Trust Portfolios, an Illinois-based fund manager that oversees more than $100 billion, has filed paperwork to establish an investment vehicle containing medical marijuana stocks.
The move underscores how mainstream investment firms increasingly are targeting the cannabis industry.
In a filing with the Security and Exchange Commission, First Trust spelled out its plans for a Medical Cannabis Portfolio Series – FT 6766, which aims to achieve above-average capital appreciation. According to the filing, FT 6766 is a series of a unit investment trust, itself a fixed portfolio of securities such as stocks.
Forbes reported the