Too much money” is not a phrase heard often on Wall Street, but for a thematic fund specialist like Ark, it could be a headache. The business Wood founded seven years ago invests in future-focused trends like genomics and robotics, and there are only so many stocks that fit the bill.
NEW YORK: While many active stock-pickers these days are worrying about money walking out of the door, Cathie Wood will soon have the opposite problem. Her firm, Ark Investment Management, could be getting too successful for its own good.
Already in February, Ark’s small lineup of exchange-traded funds (ETFs) has added another US$7bil in assets. That’s on top of January’s roughly US$8bil flow, taking the money manager’s ETF assets to US$58bil.
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