High hopes for cannabis fund
While exposure to the drug is not intended to be the "sole focus point" of the American Growth Fund Series Two Class E, the fund's prospectus on July 29 said it will now be focused mostly on “common stocks and securities convertible into common stock in companies involved in at least some way in the legal cannabis business." That includes legally registered, publicly traded companies in fields like agriculture, pharmaceuticals, hydroponic or tobacco companies, the firm says.
The Denver-based fund manager says the offering may also invest in REITs, "if the investment committee believes that it could be advantageous to the stockholders."
"The cannabis industry is a very young, fast evolving industry with possible increased exposure to rule changes, changes in laws, increasing regulations, increasing competition which may cause businesses to suddenly close or businesses to shrink as well as the possibility that a company currently operating legally may suddenly...
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