Cathie Wood’s Ark Buys Rize ETF in Big Bet on European Growth
- Ark is seeking to capture ‘growing appetite’ for active ETFs
- In US, demand for thematic funds cools after the pandemic boom
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Cathie Wood’s Ark Investment Management has acquired a fellow exchange-traded fund issuer in its biggest push yet into Europe’s nascent market for trend-driven investing.
Ark, which has roughly $25 billion in assets, purchased thematic issuer Rize ETF Limited from United Kingdom-based asset manager AssetCo, according to a press release Tuesday. Rize managed more than $450 million across its 11 ETFs through the end of August, the release said.