Analysis: Cathie Wood's ARK funds still in favor despite poor first-quarter performance

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By David Randall
NEW YORK (Reuters) - Cathie Wood failed to repeat her stellar 2020 performance with ARK Invest funds in the first quarter, but the celebrity fund manager still managed to attract a steady pile of cash into her red-hot funds.
Wood outperformed every other actively managed equity mutual or exchange-traded fund manager last year, according to Morningstar, helping propel the firm's assets under management of its flagship ARK Innovation fund from $1.86 billion at the end of 2019 to nearly $22 billion as of March, according to Lipper data.
    But for the first quarter her flagship fund is down 10.7% through March 29, ranking in the worst 1 percentile of the 601 U.S. mid-cap growth funds, according to Morningstar data https://ift.tt/39wNRx0. Over a five-year period, its annualized gain is 44.6%.
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