Cathie Wood of Ark Invest has defended her firm’s innovation-focused portfolio, saying she still expects to see “spectacular returns” over the next 5 years.
Her comments come after her firm’s flagship fund has been caught in the recent tech-led sell-off with the Ark Innovation ETF nearly halving in the past 12 months.
Wood said, however, the firm has seen “significant inflows” since Jan. 17.
Indeed, the AARK fund has seen inflows of nearly $1 billion during that period, according to ETF.com.
“You’d be amazed if you average down over time, how quickly a strategy can come back above that average. And if we’re right, significantly above that average over the next five years,” Wood said.
Wood said the world is currently facing “all kinds of problems” and innovation is set be the answer.
Woods described her firm as the closest thing to a venture capital fund in the public markets, which value these frontier technology companies differently than private markets.
