Saturday, September 13, 2025

BMO Ends Partnership with Cathie Wood’s ARK Investment, Shutters Funds

Bank of Montreal (TSX: BMO) is terminating its partnership with Cathie Wood’s ARK Investment Management and closing all six associated funds, according to a regulatory filing last week.

The Canadian bank will delist three mutual funds and their exchange-traded fund versions from the Cboe Canada exchange on July 7. Investors can continue trading units until that date.

The discontinued products include the BMO ARK Innovation Fund, BMO ARK Genomic Revolution Fund, and BMO ARK Next Generation Internet Fund.

“We regularly evaluate our product shelf to ensure our products are highly competitive and well-positioned to serve Canadians’ investment needs,” BMO Global Asset Management spokesperson Jeff Roman said in an email to the Globe and Mail, declining to elaborate on specific reasons for ending the partnership.

The funds, launched in late 2022 after the US technology sector had already declined significantly, failed to attract substantial capital. The BMO ARK Innovation ETF accumulated only about C$27 million ($19.7 million) in assets, while the other two ETFs each held approximately C$5.5 million and C$5.9 million, respectively, as of April 20.

Wood rose to prominence during the 2020-2021 technology boom when some of her U.S. funds gained more than 360%. However, her flagship ARK Innovation ETF now trades nearly 70% below its 2021 peak and has declined over 28% year-to-date.

The termination represents another setback for Wood’s Canadian presence. Her previous partnership with Emerge Canada Inc. faces regulatory scrutiny, with Ontario’s securities watchdog investigating allegations that Emerge improperly borrowed $6 million from investor funds to cover operating expenses.

BMO directed investors seeking technology sector exposure to consider its BMO Global Innovators Fund as an alternative.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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