Cathie Wood Targets Illiquid Assets and Limits Exits in New Fund
- ‘Interval’ product to target private and restricted securities
- Closed-end fund plan comes as ETFs suffer in tech turmoil
Catherine Wood
Photographer: Kyle Grillot/BloombergThis article is for subscribers only.
Cathie Wood is upping her big bet on disruptive tech companies via a new fund targeting less-liquid markets with limits on how quickly investors can exit.
Wood’s firm ARK Investment Management -- whose lineup of exchange-traded funds is reeling in the U.S. rout in growth stocks -- filed on Thursday for a closed-ended “interval” fund that would expand her flagship strategy into harder-to-trade assets.