Ark Invest, led by tech investor Cathie Wood, has experienced a dramatic 80% decline in assets under management over the past three years, falling from a peak of $59 billion to just $11.1 billion. This downturn is largely attributed to high interest rates and disillusioned investors withdrawing a substantial $2.24 billion from Wood’s actively managed funds in the third week of April 2024 alone. Ark’s flagship fund, the ARK Innovation ETF (ARKK) has witnessed outflows exceeding $1.3 billion this year, surpassing the $578 million outflow seen in 2023.