"The Green Fund" Hedge Fund- The Best Marijuana
Stocks WNTR http://www.thegreenfund.us/
NEW YORK (MainStreet) — When Republican New York State Assemblyman Steve Katz appeared before members of the ethics committee to explain his involvement in the marijuana industry, he received not one negative reaction from his constituents or fellow Assembly members.
"I've gotten a lot of support and interest," Katz toldMainStreet.
As the state budget proposal comes to vote in New York with a medical marijuana provision tucked into it, Katz is in the process of launching a cannabis mutual fund called Greenstead.
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"The fund will invest in legal marijuana companies and ancillary or support businesses to dispensaries, cultivators and growers," Katz said.
The Greenstead Growth Fund isn't the only cannabis mutual fund preparing to launch. The High Times Growth Fund anticipates building a full portfolio in two years with an average investment size of $2 million and average time to exit of five years, according to the High Times Growth Fund website. Although calls to their office were not returned, the High Times Growth Fund website states that it will invest in businesses across all areas of the rapidly growing domestic cannabis market and that:
"HTG Fund's senior team has, on average, over 18 years of industry experience, covering cannabis companies, income trading, research, investment banking and financial services."
Seeds of Growth and Challenges
Despite not being allied with any established mutual fund company, such as Vanguard or Fidelity, Katz's Greenstead will launch within the next 12 to 24 months.
"We are establishing the Greenstead Fund from scratch," said Katz. "My goal is to create a publicly held mutual fund that will bring the incredible opportunities that exist in this industry to working families and middle class individuals throughout the country."
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