• May 27, 2020
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  • Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake

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    South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020.

    Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles. Seoul-based Korea Investment Corp. (KIC) added federally licensed Ontario producer Cronos Group to its portfolio, according to a disclosure filed with the U.S. Securities and Exchange Commission.

    The sovereign wealth fund took on 45,800 Cronos shares, worth roughly $257,000. The KIC also increased its positions in Alberta-based Aurora Cannabis and Ontario-headquartered Canopy Growth.

    Read full article here: https://mjbizdaily.com/korean-sovereign-wealth-fund-dips-into-canadian-cannabis-sector/

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