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Cathie Wood's ARKK lures almost US$1 billion even as ETF sells off

Bloomberg3/11/2022 11:06 PM GMT+08  • 4 min read
Cathie Wood's ARKK lures almost US$1 billion even as ETF sells off
Wood has stuck to her thesis even amid the slump
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Cathie Wood’s flagship exchange-traded fund is down almost 40% this year. Some investors, though, are piling in -- wary of missing out on potential gains should the tide turn in its favour.

The US$11 billion ARK Innovation ETF (ticker ARKK) is on track to see its fifth straight week of inflows totalling roughly US$1.3 billion, according to data compiled by Bloomberg. Traders have added money to the fund for three consecutive months now, the longest such streak in a year, with a net intake of US$965 million for 2022 so far.

That’s happening as Wood’s growth-centric ETF gets hit on multiple fronts. The Federal Reserve is commencing a rate-hiking cycle, while the war in Ukraine pushes up commodity prices, leading to concerns that economic growth and corporate profits could slow.

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