Ark CEO Cathie Wood Wins Battle for Control

Gene Needles, Resolute's chairman and CEO, said his firm is "pleased to continue being an instrumental part of Ark's growth," noting that the firm's minority stake in Ark dates back to 2016.

Since that time, Ark has emerged as the sponsor of some of the best-performing actively managed ETFs that focus on disruptive technologies. This year alone, its Genomic Revolution ETF (ARKG) is up more than 210% year to date. Its Next Generation Internet ETF (ARKW) and Innovation ETF (ARKK) have each gained more than 160% year to date, and its Fintech Innovation ETF (ARKF) and Autonomous Technology & Robotics ETF (ARKQ) have each doubled in price since the beginning of the year.

It was this superlative performance that apparently led Resolute to try to seize control of ARK and Wood's determination to retain it.

"We believe the global economy is undergoing the largest technological changes in history and ARK's goal is to expose as many investors as possible to this transformation," said Wood in her statement.

As of Nov. 30, Ark Investment Management LLC, headquartered in New York City, had approximately $43.6 billion in assets under management.

— Related on ThinkAdvisor:

• Takeover Battle Subsides as Cathie Wood's Ark Targets 20% ETF Returns
• Takeover Battle Emerges for Cathie Wood's Ark in Stellar Year