Cathie Wood's ARK Losing Its Shine? Flagship Fund Sees $717M Exodus From Investors In A Year
Cathie Wood's ARK Losing Its Shine? Flagship Fund Sees $717M Exodus From Investors In A Year
Investors have reportedly been pulling money out of Cathie Wood's flagship exchange-traded fund, the $ARK Innovation ETF (ARKK.US)$, despite its rally of over 50% this year.
据报道，投资者一直在从中提取资金 凯茜伍德的旗舰交易所交易基金 $ARK Innovation ETF (ARKK.US)$，尽管今年涨幅超过50％。
What Happened: Over the past 12 months, investors have withdrawn a net $717 million from the fund, the Wall Street Journal reported Sunday, citing FactSet data.
发生了什么:《华尔街日报》周日援引FactSet的数据报道，在过去的12个月中，投资者从该基金中净提取了7.17亿美元。
This marks a significant shift as the fund had previously been attracting investor cash since its inception in 2014. The fund's assets under management have reportedly shrunk from nearly $30 billion to approximately $9 billion, largely due to investment losses.
这标志着一个重大转变，因为该基金自2014年成立以来一直在吸引投资者的现金。据报道，该基金管理的资产已从近300亿美元缩减至约90亿美元，这主要是由于投资损失。
The ARK Innovation ETF, also known as ARKK, gained popularity during the COVID-19 pandemic for its successful bets on unprofitable and "disruptive" technology companies. It experienced significant inflows, including a $6.5 billion influx in the first quarter of 2021, the Journal reported.
这个 方舟创新ETF，也被称为 ARKK，在 COVID-19 疫情期间因成功押注无利可图和 “颠覆性” 的科技公司而广受欢迎。据《华尔街日报》报道，它经历了大量资金流入，包括2021年第一季度的65亿美元流入。
However, the valuations of unprofitable growth companies took a hit when the Federal Reserve implemented an aggressive interest rate hike campaign. As a result, shares of ARKK plunged 67% in 2022.
但是，无利可图的成长型公司的估值受到打击 美联储 实施了激进的加息运动。结果，ARKK的股价在2022年暴跌了67％。
Now, analysts suggest that investors who experienced significant losses are choosing to exit the fund for good, as per the Journal.
现在，据《华尔街日报》报道，分析师认为，遭受重大损失的投资者选择永久退出该基金。
Despite the recent rally, ARKK shares are still trading approximately 70% below their all-time high. This is in contrast to the S&P 500, which has climbed 17% this year. The ARK fund's top holdings include $Tesla (TSLA.US)$, $Coinbase (COIN.US)$, $Roku Inc (ROKU.US)$, $Zoom Video Communications (ZM.US)$, and Jack Dorsey's $Block (SQ.US)$. Only Tesla and Zoom were profitable last year, the Journal reported.
尽管最近有所上涨，但ARKK股票的交易价格仍比历史最高水平低约70％。这与标准普尔500指数形成鲜明对比，后者今年上涨了17％。ARK 基金的最大持股量包括 $特斯拉 (TSLA.US)$， $Coinbase (COIN.US)$， $Roku Inc (ROKU.US)$， $Zoom视频通讯 (ZM.US)$，以及 杰克·多尔西的$Block (SQ.US)$。据《华尔街日报》报道，去年只有特斯拉和Zoom实现了盈利。
Why It Matters: Investors appear to have less interest and patience for companies that are not expected to turn a profit soon, especially with higher interest rates leading to a higher opportunity cost.
为什么重要：投资者对预计不会很快盈利的公司的兴趣和耐心似乎较少，尤其是在更高的利率导致更高的机会成本的情况下。
The Journal's report also noted that the ARK brand has also lost some of its appeal due to the fund's significant fall and missed opportunities, such as selling its $NVIDIA (NVDA.US)$ position before the stock's massive rally.
《华尔街日报》的报道还指出，由于该基金大幅下跌和错过了出售其机会，ARK品牌也失去了部分吸引力 $英伟达 (NVDA.US)$ 在股票大幅上涨之前的头寸。
While the outflows at ARK have been significant, other ETFs have been attracting investor money. June saw strong equity ETF flows, and active funds have received over $100 billion in inflows over the past 12 months, according to the report.
尽管ARK的资金流出量很大，但其他交易所买卖基金一直在吸引投资者的资金。报告称，6月份股票ETF流量强劲，活跃基金在过去12个月中获得了超过1000亿美元的流入。
The ARK Innovation ETF has generated significant fee revenue for ARK Investment Management, despite the recent outflows, according to the Journal.
据《华尔街日报》报道，尽管最近出现了资金外流，但ARK Innovation ETF为ARK Investment Management创造了可观的