Managed accounts group boosts distribution team
Managed accounts group boosts distribution team
The managed accounts provider has added two new executives from major institutions to its distribution team as it positions for further industry growth.
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In a statement, Implemented Portfolios said it had appointed Laura McInerney and Kieran O’Halloran as executives within its partnerships and distribution team, reporting to head of partnerships and distribution Phil Pilgrim.
Ms McInerney began her career as a client service associate with Macquarie Bank and had also recently held roles as a client relationship manager with Private Portfolio Managers and a relationship manager for NSW and Queensland with managed accounts platform Xplore Wealth.
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Editor’s note: This rating and analyst note is applied to the US domiciled version of Ark s exchange-traded-funds. The Ark Global Disruptive Innovation fund is available to Australian investors via the firm s partnership with Nikko Asset Management. The locally distributed version is not rated by Morningstar Australia. While the investment strategy is identical, a different rating may be applied to its local parent.
Thematic-investing specialist ARK Investment Management has been in tune with the market’s unfolding narrative in recent years, but its lone portfolio manager, inexperienced team, and lax risk controls make it ill-prepared to grapple with a major plot twist.
I first presented ARKK as a short idea in the January 3, 2021 of my
Short Seller’s Journal issue at $124.49. And of course like every other insanely overvalued stock or ETF, it continued to run higher, with a high-close of $156 on February 12th. As air seems to be leaking out the stock bubble, ARKK has taken a 25% beating since the high-close. At one point Friday it was down 32% from the high-close. ARKK is an ETF that has attracted a high degree of speculative interest because it has invested heavily in many of the high-beta, Silicon Valley “tech” and bio-tech stocks.
These are stocks that have captured the market’s imagination to such an extreme degree that once again, just like in 1999, earnings or even the potential to generate earnings are irrelevant. The ARKK Invest website describes its investment thesis as “disruptive innovation.” It harkens back to 1999 when earnings were dismissed as “old economy” and the value of dot.com’s was derived from “clicks