Cathie Wood steps back from two ARK funds

Sep. 23, 2022 12:35 AM ET3D Printing ETF (PRNT), IZRLBy: Gaurav Batavia, SA News Editor75 Comments
  • According to a regulatory filing, ARK Invest founder and CEO Cathie Wood has stepped down from her role as the portfolio manager at two of the investment management firm’s exchange-traded funds.
  • William Scherer will be portfolio manager of The 3D Printing ETF (BATS:PRNT) and ARK Israel Innovative Technology ETF (BATS:IZRL). Mr. Scherer is a trading manager and has been employed by the firm since 2014.
  • The 3D printing-focused fund (PRNT) has an AUM of $196.68M while ARK Israel has $115.39M in assets under management.
  • Cathie Wood is still chief investment officer of ARK and portfolio manager for the actively managed exchange traded funds.
  • YTD IZRL and PRNT funds lost approx. 40% of value, while S&P 500 lost 22% and Nasdaq 100 Index lost 30%.
  • Previously: Cathie Wood has seen nearly 50% of her assets vanish in 2022 across all nine ARK ETFs.

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