NEW YORK (Reuters) – Star stock picker Cathie Wood of ARK Invest on Tuesday reiterated her call that slowing economic activity in the United States will bolster growth stocks. Her flagship $21.1 billion ARK Innovation fund was the top-performing actively managed U.S. equity fund tracked by Morningstar last year. “We do believe that the market will start rotating back toward growth and innovation,” she added. Wood’s portfolio, which is heavy in growth stocks such as Tesla Inc, Teladoc Health Inc and Unity Software Inc, is down 5.5% for the year to date, well behind the nearly 19% gain for the benchmark S&P 500. The performance ranks in the lowest percentile among the 593 U.S. mid-cap growth funds, according to Morningstar.

Source: MetroXpress September 14, 2021 18:56 UTC