Renowned investor Cathie Wood is the founder, CEO, and CIO of Ark Invest, an investment management firm. Its flagship fund, ARK Innovation ETF (ARKK), seeks to generate long-term capital appreciation by investing in businesses across the globe that seek to benefit from disruptive innovation.
Following the pandemic highs, the growth companies favored by Wood have fared poorly this year as the Federal Reserve unleashed its most aggressive monetary policy tightening in decades to contain inflation. The central bank’s benchmark overnight lending rate currently sits in the target range of 4.25% and 4.5%, the highest level in 15 years.
