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Alec Hogg: Magda wants to eat Cathie Wood’s lunch
"Sygnia founder Magda Wierzycka told us she is going head-to-head with Cathie Wood by globally launching themed-ETFs that target identical investors."
- These are not the best of times for 2020's hottest money manager, Cathie Wood (above) of ARK. Her "disruptive innovation" funds, built on high conviction bets (Tesla 11% of portfolio) pulled in tens of billions from investors. But the funds are now struggling to beat the anchor of size (see above). Our partners at The Wall Street Journal outline her challenges in detail this morning in a piece headlined ARK wasn't built for a flood.