ARK Investment Management LLC

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ARK Investment Management LLC
Private
ISIN🆔
IndustryAsset management
Founded 📆2014; 8 years ago (2014)
Founder 👔Cathie Wood
Headquarters 🏙️New York City
Area served 🗺️
Key people
Cathie Wood, CEO
OwnerCathie Wood (50%),
Members
Number of employees
🌐 Websiteark-invest.com
📇 Address
📞 telephone

ARK Investment Management LLC is an American asset-management company. It was founded by Cathie Wood in 2014.[1][2] Its assets under management stood at US$29.3 billion in September 2020.[3]

History[edit]

Ark Invest was founded in 2014 by economist and financial analyst Cathie Wood. Wood has worked for Capital Group, Jennison Associates and most recently as chief investment officer of global thematic strategies at AllianceBernstein. The name Ark is an acronym for Active Research Knowledge. In 2014, Ark launched its first actively managed fund in ETF format.[4]

In November 2020, Resolute Investment Managers announced it would acquire a majority stake in Ark Invest, based on a 2016 agreement.[5][6][7] In December 2020, this announcement was reversed. Resolute Investment remains a minority shareholder.[8][9]

On January 11, 2021, Bloomberg reported that Wood's Ark Investment Management became one of "the top 10 issuers in the $5.5 trillion exchange-traded fund industry," due to demand for companies in its fund, including Tesla Inc.[10]

Investment strategy[edit]

In its investment strategy, Ark Invest focuses on disruptive technologies and invests specifically in innovative companies that apply them.[11] These technologies include artificial intelligence, DNA sequencing, gene editing, robotics, electric vehicles, energy storage, fintech, 3D printing and blockchain technology. It has also invested in cryptocurrencies. In addition, Ark publishes current analysis, transactions and portfolios, and also opens its research reviews to the public. In addition to financial analysts, Ark also employs scientists and computer scientists, as they can better assess the impact of disruptive technologies.[12][13][14] From 2014 to 2021, the ARK Innovation ETF averaged an annual 39% return on investment, over three times the return of the S&P 500 over the same time.[15]

Funds[edit]

Ark Invest is managing the following funds.[16]

  • ARK Innovation ETF (ARKK)
  • Autonomous Technology & Robotics ETF (ARKQ)
  • Next Generation Internet ETF (ARKW)
  • Genomic Revolution ETF (ARKG)
  • Fintech Innovation ETF (ARKF)
  • The 3D Printing ETF (PRNT)
  • Israel Innovative Technology ETF (IZRL)
  • Space ETF {announced in 2021}[17]

References[edit]

  1. Fitzgerald, Maggie (2020-12-23). "Cathie Wood's Ark Innovation becomes largest actively managed ETF, amid 170% 2020 return". CNBC. Archived from the original on 2021-01-19. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  2. Cuccinello, Hayley C. "'Go For It': America's Richest Self-Made Women On Founding Businesses After 40". Forbes. Archived from the original on 2021-01-19. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  3. "Resolute to take majority ownership of ARK Investment Management". 2020-11-13. Archived from the original on 2021-02-04. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)
  4. "ARK's FAQ". ARK Invest. Archived from the original on 2021-01-12. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)
  5. "Resolute to take majority ownership of ARK Investment Management". Pensions & Investments. 2020-11-13. Archived from the original on 2021-02-04. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)
  6. "Cathie Wood's Ark Invest Rocked as Shareholder Seeks Control". Bloomberg.com. 2020-11-16. Archived from the original on 2021-02-04. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  7. Liu, Evie. "Cathie Wood Might Lose Control of ARK, the Company She Founded". www.barrons.com. Archived from the original on 2020-12-30. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  8. Business Insider. "Cathie Wood retains majority ownership of Ark Invest following bid for control by minority shareholder". Archived from the original on 2021-02-04. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)
  9. "ARK Investment Management and Resolute Investment Managers Reaffirm Long-term Partnership". www.businesswire.com. 2020-12-28. Archived from the original on 2021-01-28. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  10. Ballentine, Claire; Raimonde, Olivia (January 11, 2021). "Cathie Wood's Ark Joins Top 10 ETFs With Tesla-Heavy Fund". Bloomberg. Archived from the original on 2021-01-29. Retrieved 20 January 2021. Unknown parameter |url-status= ignored (help)
  11. "The Best Stock Picker of 2020 Wins With Disruptive DNA". Bloomberg.com. 2020-12-31. Archived from the original on 2021-02-04. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  12. "Secret Sauce Behind Ark's Success Is Cathie Wood's Diverse Team". Bloomberg.com. 2020-09-26. Archived from the original on 2020-11-20. Retrieved 2021-01-24. Unknown parameter |url-status= ignored (help)
  13. Management, ARK Investment. "ARK Investment Management LLC Celebrates Five Years Of Disruptive Innovation Investing". www.prnewswire.com. Archived from the original on 2021-02-04. Retrieved 2021-01-20. Unknown parameter |url-status= ignored (help)
  14. Alster, Norm (2020-10-08). "A New Kind of Fund That Is Stingier With Information". The New York Times. ISSN 0362-4331. Archived from the original on 2021-01-29. Retrieved 2021-01-23. Unknown parameter |url-status= ignored (help)
  15. Zweig, Jason (2021-02-05). "Cathie Wood Has Wall Street's Hottest Hand. Maybe Too Hot". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-02-06.
  16. "ARK Innovation ETFs". ark-funds.com. Archived from the original on 2021-02-04. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)
  17. Root, Al. "5 Stocks That Could Benefit From ARK's Planned Space ETF". www.barrons.com. Archived from the original on 2021-01-15. Retrieved 2021-01-15. Unknown parameter |url-status= ignored (help)


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