A new investment risk: Unidentified flying objects
CBSN
A two-year-old investment fund is warning investors about a potential threat to their portfolio that may strike some as out of this world: That "unidentified aerial phenomena" — colloquially known as UFOs — to hurt their investment returns.
The Procure Space ETF, which trades under the ticker "UFO," added the warning to its prospectus this month following a report from a U.S. government task force that documented a number of sightings of unexplained objects. Because the fund invests in space exploration and satellite companies, it added the warning due to the possibility that such unidentified aerial phenomena, or UAPs, could interfere with the operation of satellites or other objects in space. Procure co-founder Andrew Chanin acknowledged in a statement that tales of unidentified flying objects were "once a figment of science fiction." But while fans of "The X-Files" may believe the truth is out there, the government task force report was hardly definitive about what may explain UAPs, finding no evidence that the objects are extraterrestrial.
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