‘[Cannabis] will be one of the fastest-growing industries globally over the next decade. If anything, it will continue to accelerate as we see legislation across the world move more in favour of medical, recreational or both,’ says Bruce Campbell, founder and portfolio manager at Kelowna, B.C.-based StoneCastle Investment Management Inc.Adam Hennick, an investment advisor at Mackie Research Capital Corp.
Still, many advisors remain wary of the risk their clients could lose money. At the same time, they also run a risk not helping clients invest in cannabis, in turn losing them to an advisor who will. “My personal view is this will be one of the fastest-growing industries globally over the next decade. If anything, it will continue to accelerate as we see legislation across the world move more in favour of medical, recreational or both,” says Bruce Campbell, founder and portfolio manager at Kelowna, B.C.-based StoneCastle Investment Management Inc., which began investing in cannabis companies in 2013, when licensed producers began going public.
The cannabis industry also has been fertile soil for ETF providers as demand from investors has gravitated to these low-cost, diversified baskets of stocks, says Steve Hawkins, president and chief executive officer, Horizons ETFs Managment Inc. “Part of it’s driven by the fact that some of the larger [cannabis] stocks are now included in the [S&P/TSX Composite Index],” he says.