Ark Innovation ETF [ARKK]

Hello there,

Please can you add the Ark Innovation ETF [ARKK] to the platform.

Other ARK Invest ETF’s would also be welcome additions, tickers below:

  • ARKG
  • ARKF
  • ARKW
  • ARKQ

Best wishes,
~
Wyndham

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The other ark funds can’t be added because they are not UCITS compliant. I think there will be a long wait for Ark innovation. There seems to be difficulty in adding US etfs. The WCLD etf has been requested for several months now.

Thanks for the reply Nick, I’ll have to invest through a different company in that case, at least in the short term

Which company are you going to use to invest in ARK?

I’ve tried through Fidelity & Degiro but to no avail… I assume the same issues as quoted above

Do you fully understand what the issue is?

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Unfortunately not, I’m hoping an admin may be able to enlighten us

ARK (so far) refuse to comply with EU law. Thus it’s illegal to sell their products in the EU (with some caveats).

We don’t need an admin, I’m suggesting you become familiar with the products and assets you want to invest in. A lot of people ‘going in blind’ at the minute and that’s bloody dangerous if you don’t understand what you’re getting into.

UCITS is specific to Europe and so applies to European mutual funds and securities. If an ETF is not UCITS compliant it can’t be marketed and/or sold here.

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It’s seems complicated for US funds that are UCITS compliant. Both WCLD and Ark innovation say they are compliant:

I’m really not sure what makes it complicated. But we’ll just have to be patient.

Unpopular opinion: Hopefully with Brexit, once we are free to make our own laws again we can make some deals with the US. But then again, UK is probably more of a nanny state than the EU. So who knows.

WCLD won’t be an issue. That’s fine. Can be traded in Europe.

No ARK funds currently produce the European mandatory KIID.

That’s your issue.

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There is one, I seem to remember it was the Ark Innovation one, that did produce KIIDs if you accessed it through an intermediary, but that was quite expensive.

Here is the link:

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I could be wrong. But I thought that having a kiid is requirement of being a ucits compliant fund.

Nope. You can UCITS but not kiids.

Kiids are mandated by mifid and priips regs not UCITS

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Super interesting. Nice find. But that’s not gonna fly as a KIID as far as I can see

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If you access Ark Innovation through Nikko, it does have a KIID.

See the post I linked earlier.

Edit: @Finky, why does that not qualify?

You mean the one headed ‘PRESS RELEASE’ ?

Or am I missing another link to a KIID?

https://www.centralbank.ie/regulation/industry-market-sectors/funds/ucits

I stand corrected
In which case ARK are presumably wrong about their status as UCITS compliant or they are failing in their obligation to create a KIID
Super weird

I think this is it :slight_smile:.

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