Ark Invest founder Cathie Wood (pictured) and Rize ETF’s co-founder Stuart Forbes – now head of Ark Invest Europe – speak to Portfolio Adviser in the wake of the firm’s acquisition of specialist ETF issuer Rize ETF from AssetCo, discussing the reasons behind the acquisition and the firm’s expansion into Europe. “We have been looking for a partner in Europe for a number of years now,” Wood said. “We’re thrilled to be able to give Rize more access to the management teams in the US. AssetCo will partner with Ark and the new Invest Europe platform to launch several ETFs for River & Mercantile – the active equity management subsidiary of AssetCo. However, Martin Gilbert’s firm wrote down the value of Rize by £5m in June, stating the ETF provider was “materially behind plan”.

Source: Forbes October 02, 2023 11:52 UTC