Nikko Shifts Global Equities Strategy, Replaces Ark Invest

Nikko Investment Management New Zealand is revising its global equities strategy by removing Cathie Wood’s Ark Invest and adding three traditional fund managers: Royal London, JP Morgan, and WCM Investment Management. Ark's focus on disruptive technology had previously delivered strong performance but is down 15% year-to-date. Nikko’s head of diversified funds, Alan Clarke, noted that while Ark worked well in a low-interest, pre-Covid environment, it no longer aligns with their strategy. JP Morgan and WCM will now drive the growth segment of the portfolio, while property investments will also be integrated. Nikko's adjustments reflect a more diversified asset class and regional approach, with changes expected to be completed by mid-September. Despite this shift, Ark will remain a stand-alone investment option in Nikko’s GoalsGetter platform, which also offers a range of KiwiSaver and other investment funds.

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