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.
據報道，投資者一直在從中提取資金 凱茜伍德的旗艦交易所交易基金 $ARK Innovation ETF (ARKK.US)$，儘管今年漲幅超過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What Happened: Over the past 12 months, investors have withdrawn a net $717 million from the fund, the Wall Street Journal reported Sunday, citing FactSet data.
發生了甚麼:《華爾街日報》週日援引FactSet的數據報道，在過去的12個月中，投資者從該基金中淨提取了7.17億美元。
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.
這標誌着一個重大轉變，因爲該基金自2014年成立以來一直在吸引投資者的現金。據報道，該基金管理的資產已從近300億美元縮減至約90億美元，這主要是由於投資損失。
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.
這個 方舟創新ETF，也被稱爲 ARKK，在 COVID-19 疫情期間因成功押注無利可圖和 “顛覆性” 的科技公司而廣受歡迎。據《華爾街日報》報道，它經歷了大量資金流入，包括2021年第一季度的65億美元流入。
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，無利可圖的成長型公司的估值受到打擊 美聯儲 實施了激進的加息運動。結果，ARKK的股價在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.
現在，據《華爾街日報》報道，分析師認爲，遭受重大損失的投資者選擇永久退出該基金。
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.
儘管最近有所上漲，但ARKK股票的交易價格仍比歷史最高水平低約70％。這與標準普爾500指數形成鮮明對比，後者今年上漲了17％。ARK 基金的最大持股量包括 $特斯拉 (TSLA.US)$， $Coinbase (COIN.US)$， $Roku Inc (ROKU.US)$， $Zoom視頻通訊 (ZM.US)$，以及 傑克·多爾西的$Block (SQ.US)$。據《華爾街日報》報道，去年只有特斯拉和Zoom實現盈利。
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.
爲甚麼重要：投資者對預計不會很快盈利的公司的興趣和耐心似乎較少，尤其是在更高的利率導致更高的機會成本的情況下。
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.
《華爾街日報》的報道還指出，由於該基金大幅下跌和錯過了出售其機會，ARK品牌也失去了部分吸引力 $英偉達 (NVDA.US)$ 在股票大幅上漲之前的頭寸。
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.
儘管ARK的資金流出量很大，但其他交易所買賣基金一直在吸引投資者的資金。報告稱，6月份股票ETF流量強勁，活躍基金在過去12個月中獲得了超過1000億美元的流入。
The ARK Innovation ETF has generated significant fee revenue for ARK Investment Management, despite the recent outflows, according to the Journal.
據《華爾街日報》報道，儘管最近出現了資金外流，但ARK Innovation ETF爲ARK Investment Management創造了可觀的