Cathie Wood Fans Buckle Up as ETF Assets Fall to $40 Billion
- Flagship fund ARKK falls more than 35% from February peak
- Minimal outflows in 2021 show followers sticking to funds
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With tech’s recent pummeling, the cash Cathie Wood is managing in her ETF lineup has just dropped below $40 billion -- but her loyal fan base is largely hanging on for the ride.
The founder of Ark Investment Management LLC now controls $39.7 billion in her U.S. exchange-traded funds, down from more than $60 billion at a peak in February, according to data compiled by Bloomberg. The firm is now the 11th largest issuer in the U.S., compared with seventh place earlier this year.