In turn, the stock rout highlighted the seriousness of COVID-19, not only galvanizing government policymakers into sweeping moves to mitigate and reverse its impact on the global economy, but also impressing upon individuals and businesses the importance of contributing to the solution with social distancing and better hygiene. In our view, the markets discounted a significant amount of bad news and overdid it in March. Although reinvestment of dividend and interest payments is assumed, no expenses are netted against an index’s returns.īecause the panic appeared to have peaked and most countries have “bent the curve”, equities - as measured by the MSCI World Index - have recovered more than half of this year’s loss. You cannot invest directly in an index, securities in an ARK ETF will not exactly match those in an index, and performance of an ARK ETF will differ from the performance of an index. Index performance information was furnished by sources deemed reliable and is believed to be accurate, however, no warranty or representation is made as to the accuracy thereof and the information is subject to correction. Securities indexes assume reinvestment of all distributions and interest payments and do not take into account brokerage fees or taxes. Returns shown for the MSCI World Index are net of foreign withholding taxes applicable to U.S. The MSCI World Index represents large and mid-cap equity performance across 23 developed markets. The S&P 500 Index is a widely recognized capitalization-weighted index that measures the performance of the large-capitalization sector of the U.S. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.Ī registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. Registrant’s telephone number, including area code: (212) 426-7040įorm N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). (Address of principal executive offices) (Zip code) (Exact name of registrant as specified in charter)
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