Space ETFs Hit Canada With One Tapping Wood’s Ark to Subadvise
(Bloomberg) -- The craze for space exploration exchange traded funds has reached Canada with two new launches this week including one counting Cathie Wood’s ARK Investment Management LLC as a subadviser.
Emerge Canada Inc. and Harvest Portfolios Group Inc. debuted a pair of new funds this week on the NEO and TSX exchanges, furthering the momentum in space-related investments since Wood filed to launch her popular ARK Space Exploration and Innovation ETF earlier this year.
As a subadvisor for Emerge, ARK Invest provides thematic research and investment recommendation for Emerge ETFs, including additional ones focused on disruptive innovation and fintech, Emerge said on its website.
“Cathie Wood’s team is uniquely prepared for the challenge of identifying opportunities that will further space exploration,” Emerge CEO Lisa Langley said in a statement.
The Harvest Space Innovation Index ETF began trading Thursday, while the Emerge ARK Space Exploration ETF launched Tuesday.
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