NEW YORK, June 21(Reuters) - Individual investors have given a cold shoulder to Cathie Wood’s ARK Innovation Fund during their searing run this year, but some market watchers believe that may change if risk appetite keeps improving.
The $8 billion fund, which outperformed all U.S. equity funds during the pandemic rally of 2020 but suffered a steep fall last year, is up nearly 37% year-to-date, outpacing broader markets.
ARK Invest, the fund's parent company, did not respond to a request for comment.
Domestic equity funds and ETFs posted a total of $151.3 billion in outflows year to date through June 7th, according to data from trade group the Investment Company Institute.
Optimism among individual investors vaulted to a 19-month high in the latest American Association of Individual Investors (AAII) Sentiment Survey.
Persons:
Todd Rosenbluth, Rosenbluth, Virag Shah, Van, Morgan Stanley, Shah, David Randall, Ira Iosebashvili, David Gregorio Our
Organizations:
YORK, Innovation Fund, Invest, Investment Company Institute, Van Leeuwen & Company, American, of, Tesla, Roku Inc, Sciences, Thomson
Locations:
Van Leeuwen