The investment objective of the Fund is to seek long-term capital growth. The Fund invests primarily in companies involved in disruptive innovation, which ARK Investment Management LLC (the "Investment Manager") defines as the introduction of a technologically enabled new product or service that potentially changes the way the world works. Under normal circumstances, the Fund will invest 75-85% of its Net Asset Value ("NAV") in shares or other securities of private companies (which will generally be private The investment objective of the Fund is to seek long-term capital growth. The Fund invests primarily in companies involved in disruptive innovation, which ARK Investment Management LLC (the "Investment Manager") defines as the introduction of a technologically enabled new product or service that potentially changes the way the world works. Under normal circumstances, the Fund will invest 75-85% of its Net Asset Value ("NAV") in shares or other securities of private companies (which will generally be private