ARK Invest: big stakes and a short swing

Summary:
ARK Invest is an ETF-provider and fund manager with a vision. Its website speaks in glowing tones about “disruptive innovation”, “genomic revolution” and even making the world a better place. By placing outsized bets on names such as Tesla, Spotify and Zoom, the firm aims to not just generate great returns, but revolutionise technology via the medium of the secondary markets.It’s quite a lot to swallow for a business that makes its money by clipping fees off its investors, but it’s almost impossible to argue it hasn’t worked. Through to the end of January this year, its main ETF — ARK Disruptive Innovation (ticker: ARKK) — had outperformed the Nasdaq by 136 per cent since launch. Flows followed, with the ARK family of funds garnering more assets in January than

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