Will the prominent U.S. fund manager Cathie Wood play in Europe?
We’ll soon find out. Her Ark Investment exchange-traded funds are now available there.
Leverage Shares, a London-based, exchange-traded products company, is offering them. On Tuesday they were listed through Leverage Shares ETPs on the London Stock Exchange, and on Thursday they will be listed on Euronext Amsterdam and Euronext Paris, Leverage Shares said.
Investors can purchase the funds through their local brokers, as they would any other stock or ETF. The funds will be listed in dollars, pounds and euros.
Ark Founder Wood’s funds, which emphasize the theme of disruption, have proved quite popular with U.S. investors. But their performance has been mixed.
Ark ETFs are available inside Leverage Shares’ ETPs. These ETPs physically own the underlying ETFs, so no swaps or derivatives will be used to gain exposure, it said.
The ETPs also are available with three-times leverage, going both long and short.
Unlevered funds have fees of 0.35% a year, while the levered ones have fees of 0.75%.
Last Thursday, Ark bought 969,890 shares of robotic software company UiPath (PATH) - Get UiPath Inc Class A Report, as it fell 6%. The stock’s drop came despite a stronger-than-expected earnings report.
Ark’s kitty was valued at $45.6 million as of Thursday’s close. And it was worth $41.9 million recently.