Catherine Wood, ARK’s Founder and Chief Executive Officer

The New York-based disruptive innovation adviser, Ark Investment Management (LLC) has launched the ARK Fintech Innovation ETF (ARKF), its fifth actively managed exchange-traded fund (ETF), and seventh ETF overall. This new fund has publicly begun trading on the New York Stock Exchange Arca from the 4th of February.

The ARK Fintech Innovation ETF (ARKF) invests in equity securities of companies that ARK believes are shifting financial services and economic transactions to technology infrastructure platforms, ultimately revolutionizing financial services by creating simplicity and accessibility while driving down costs.

“Launching ARKF was a natural progression that builds on the success of our sub-advised fintech mutual fund with Nikko Asset Management in Japan, which received the Morningstar Fund of the Year 2017 Global Equity Award,” stated ARK’s Chief Operating Officer, Tom Staudt. “We believe all investors, both retail and institutional, should have access to investment opportunities in disruptive innovation and are excited that ARKF will fill a hole in US public equity markets for an actively managed, research-based fintech fund.”

“Powered by innovations within mobile, artificial intelligence, and blockchain technology, companies within fintech are working to disintermediate or bypass incumbent financial players and challenge traditional institutions by offering new solutions that are better, cheaper, faster, and more novel and secure,” stated ARK’s Founder and Chief Executive Officer, Catherine Wood. “Fintech reimagines the generation, transfer, and storage of value in today’s increasingly digital economy, and its impact will extend across every industry. Through facilitating peer-to-peer transfers, gifting, intermediary products, and other non-GDP related economic activity, the companies in ARKF, in our view, will touch more than the $80 trillion in GDP today.”

Headquartered in New York City, ARK Investment Management LLC is a federally registered investment adviser and privately held investment firm with approximately $6.5 billion assets under management as of January 30, 2019.

ARK’s ETF suite accounts for over $2.25 billion, with ARKF joining existing innovation funds: ARK Innovation ETF (ARKK), ARK Web x.0 ETF (ARKW), ARK Genomic Revolution ETF (ARKG), ARK Industrial Innovation ETF (ARKQ), The 3D Printing ETF (PRNT), and ARK Israel Innovative Technology ETF (IZRL).

In July 2016, Resolute Investment Managers, Inc., the parent company of American Beacon Advisors, Inc., announced that it had taken an investment of a minority interest in ARK

In August 2017, Nikko Asset Management acquired a minority stake in ARK to enhance its disruptive innovation focused investment solutions. These partnerships are providing ARK with distribution across the United States and the Asia Pacific regions.

 

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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