The Globe and Mail Adam Mayers Published March 5, 2021
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At the age of 58, when most people start looking ahead to retirement, Catherine Wood launched an investment management company in New York to capture the potential of a coming wave of technological change.
Almost seven years later, Ark Investment Management LLC has grown from a US$15-million venture into one in which the flagship exchange-traded fund (ETF) manages about US$18-billion in assets. Ark Innovation ETF ARKK-A is the largest actively managed ETF on any global exchange. It ranked in the first percentile among 604 funds in its class in 2020, according to Morningstar Research, with a 152.8-per-cent return. The ETF has struggled thus far in 2021, up only 0.5 per cent year-to-date.