From ZeroHedge:
As if there wasn't an ETF for literally everything already...
On Thursday of this week, VanEck announced it would be launching a "future of food" ETF that will trade under the ticker YUMY. The actively managed product is going to "provides exposure to companies engaged in agri-food technology and innovation".
VanEck says that YUMY "is the first VanEck ETF to incorporate bottom-up, fundamental company research" and is going to be managed by Shawn Reynolds and Ammar James.
Reynolds, who already oversees VanEck's Environmental Sustainability and Natural Resources Equity Strategies, said: “The growing global population and the concurrent threats from climate change are driving the need for more sustainable agri-food processes and technologies in order to provide for a future with more affordable, nutritious and safe food for all."
He continued: “We are now in the early stages of a multi-decade agri-food system transformation. Growth opportunities in this space currently exist, but the market remains nascent. A number of private firms appear poised to enter the public markets and several established companies are pivoting their business models to embrace the future of food, so an active approach to stock selection will position YUMY and its investors to capitalize on emerging trends.”....
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