The Globe and Mail reports in its Tuesday edition that BMO's asset management arm has ended its ill-timed partnership with Cathie Wood, the prominent U.S. portfolio manager whose firm rose to stardom during the American tech boom. The Globe's Clare O'Hara writes that BMO Investments Inc. and ARK Investment Management launched three mutual funds and three exchange-traded funds in late 2022, a year after the U.S. tech bubble burst. At the time, Ms. Wood's flagship ARK Innovation ETF in the U.S., which invests in stocks such as Tesla, had plummeted 67 per cent. However, she remained notoriously optimistic about the disruptive innovation sector and said a structural shift that would benefit its companies would continue to play out. While many technology stocks did rebound from the 2022 lows, the ARK Innovation ETF never found its footing again. The fund closed Monday at $44.39 (U.S.), down nearly 70 per cent from its 2021 peak. BMO is terminating all three BMO mutual fund ARK investments, as well as the three ETF versions. Investors who hold units in the BMO ARK Genomic Revolution Fund, BMO ARK Innovation Fund and BMO ARK Next Generation Internet Fund will be able to redeem and trade their investments up until July 7.