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Ark Investment Management chief executive Cathie Wood has stepped down as portfolio manager of the company’s two index funds, in the third shake-up of the firm’s portfolio management roster in as many months.
Will Scherer, until now a trading manager at the firm, has been appointed portfolio manager of the $192mn 3D Printing and $110mn Israel Innovative Technology exchange traded funds, the firm has disclosed. Wood remains Ark’s chief investment officer, as well as portfolio manager on the actively managed funds.
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