In early 2021, Ark Invest, led by tech investor Cathie Wood, managed a staggering $59 billion across six funds, making it the world’s largest active ETF manager.
Three years later, a significant 80% downturn occurred, with assets under management in those funds plummeting to just $11.1 billion. This decline can be attributed to a combination of factors, including high interest rates dampening Wood’s long-term speculative tech investments and the subsequent wave of outflows from disillusioned investors.
To give a sense of the scale, investors had withdrawn a substantial $2.24 billion from Wood’s actively managed funds by the end of the third week of April 2024, nearly tripling the outflows seen throughout all of 2023.
Notably, Ark’s flagship fund, the ARK Innovation ETF (NYSE:ARKK), experienced outflows exceeding $1.3 billion in less than four months this year, far surpassing the $578 million seen in 2023.
Below is a breakdown of the fund flows for Ark’s actively managed ETFs in 2024 compared to 2023:
ARK Actively Managed ETFs
YTD 2024 Fund Flows (as of Apr. 19)
2023 Fund Flows
ARK Innovation ETF
-1.37 B
-578.15 M
ARK Next Generation Internet ETF (NYSE:ARKW)
-211.66 M
-63.93 M
ARK Genomic Revolution ETF (BATS:ARKG)
-363.74 ...Full story available on Benzinga.com
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