Published on 23 Apr 2024 on Benzinga via Yahoo Finance
Cathie Wood's Ark Empire Bleeds As Investor Outflows Spike: 'The Loyal Shareholders Have Become...
Cathie Wood's Ark Empire Bleeds As Investor Outflows Spike: 'The Loyal Shareholders Have Become Frustrated'
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.