Advertisement
Canada markets open in 2 hours 23 minutes
  • S&P/TSX

    22,107.08
    +194.56 (+0.89%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CAD/USD

    0.7354
    -0.0018 (-0.24%)
     
  • CRUDE OIL

    82.19
    +0.84 (+1.03%)
     
  • Bitcoin CAD

    96,162.58
    +927.91 (+0.97%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,233.30
    +20.60 (+0.93%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • NASDAQ futures

    18,496.75
    -7.00 (-0.04%)
     
  • VOLATILITY

    12.99
    +0.21 (+1.64%)
     
  • FTSE

    7,955.72
    +23.74 (+0.30%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6813
    +0.0008 (+0.12%)
     

Sweden’s Government Is Adding Pot Stocks To Their Public Pension Fund

Back in 2018 Sweden's government-run AP7 pension fund acquired shares of Aurora and Canopy Growth, according to Swedish business magazine Affärsvärlden. The initial investment by the fund was 63 million Swedish kronor (~6.8M USD), with the valuation since then soaring to 100 million Swedish kronor this spring, according to a report from Sweden's public television broadcaster, SVT News. Why is Sweden’s government pension fund investing in pot? There’s actually a fairly simple explanation for this. The AP7 Equity Fund invests in pretty much all stocks that are included in the MSCI ACWI Index. The only exceptions are stocks that AP7 has blacklisted for one reason or another. The fund seeks to diversify bee creating a wide global exposure to equities with, and it makes perfect sense that the fund uses the MCSI ACWI Index to achieve this goal considering the index's holdings include more than 2,700 stocks across 11 sectors in 23 developed markets and 24 emerging markets. Once Aurora Cannabis and Canopy Growth were added to the MSCI ACWI Index in 2018, the AP7 ... Click here to view full article