Cathie Wood’s Ark Investment Management is launching its first three active exchange traded funds in Europe, courting a new continent of investors after a run of poor performance and outflows in the US. The investor known for highly concentrated and volatile portfolios capable of massive gains and losses planned to bring her flagship strategy to several European exchanges starting on Thursday, Ark said in a statement. The migration to Europe comes as Ark has lost market share in the $8.
Ark’s flagship Innovation ETF soared more than 150 per cent in 2020, a level of performance that beat virtually every other competitor and put the firm on the map. The fund held about $2bn in assets at the start of 2020 but took in nearly $8bn in net new flows over the second half of that year, ending 2020 with more than $17bn in assets, according to Morningstar Direct. The fund dropped 23 per cent and 67 per cent in 2021 and 2022, respectively, before returning with a 68 per cent gain in 2023.
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