ARK Invest relies heavily on private technology companies.
“It’s a great time to invest in innovation,” the company’s chief futurist Brett Winton told CNBC’s “ETF Edge” this week. “Both venture capitalists and publicly traded innovation companies are now incredibly well valued to make a long-term investment.”
Winton worked with the ARK Invest team to launch ARK Venture Fund (ARKVX), a closed-end interval fund, in September 2022.
Closed-end interval funds allow investors to invest in private companies at their net asset value at any time, regardless of market volatility. Investors can then sell back to the fund on a quarterly basis during certain periods.
According to ARK Invest’s website, Epic Games, SpaceX, Freenome and Anthropic were the fund’s largest private holdings as of April 10.
“Interval funds are specifically designed to allow everyday investors to invest in less liquid assets,” Winton said. “You don’t have to be an accredited investor… and you can invest at net asset value.”
As of Thursday’s close, ARK Venture Fund was up 29% since its inception date. However, the decline has increased by more than 7% since the beginning of the year.
Disclaimer
Don’t miss these exclusives from CNBC PRO
- Here are Thursday’s biggest analyst calls: Nvidia, Meta, Tesla, IBM, UPS, Five Below, Amazon, TJX Companies and more
- Here’s where the pros say you should invest $1 million right now
- Forget Nvidia: Morgan Stanley says Intel’s much-touted AI chip will boost three global stocks
- These five stocks will power the AI revolution as data centers proliferate and power demand doubles, Bank of America says
- Profit Playbook: Your guide to trading with a huge week of reports including meta platforms
Source link
2024-04-25 23:00:01
www.cnbc.com
