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WisdomTree and BNY Mellon’s Dreyfus to launch cash and fixed-income ETFs

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WisdomTree Investments has announced plans to partner with the Dreyfus Corporation, a subsidiary of BNY Mellon Asset Management, on international cash and fixed-income exchange-traded fund

WisdomTree Investments has announced plans to partner with the Dreyfus Corporation, a subsidiary of BNY Mellon Asset Management, on international cash and fixed-income exchange-traded funds.

The products will be part of the WisdomTree Trust family of ETFs and will be co-branded and marketed by both firms, with Dreyfus acting as sub-advisor to the funds.

‘BNY Mellon Asset Management comprises asset management companies with individual proprietary investment expertise, and this combination of talent fosters the development of innovative investment products,’ says chief executive Ron O’Hanley. ‘The creation of new ETFs complements what BNY Mellon Asset Management does already.’

BNY Quantitative Equity Management Group already sub-advises for WisdomTree, among other ETF providers. ‘BNY Mellon Asset Management’s ability to distribute new ETFs in the marketplace extends our capabilities to new products that are becoming increasingly important in the retail and intermediary business,’ O’Hanley says.

‘The ETF business is an increasingly vibrant segment of asset management,’ says Phil Maisano, chief investment strategist of BNY Mellon Asset Management and chief investment officer of Dreyfus. ‘The strategic venture between Dreyfus and WisdomTree creates a formidable player as both companies bring their respective expertise to the venture.’

WisdomTree chief executive Jonathan Steinberg adds: ‘We believe there is significant opportunity for ETFs to provide exposure to cash products around the world. Although US cash is a USD3trn market segment, today’s US investors are surprisingly limited in their ability to easily hold cash in non-US cash investments. We are pleased to work with a widely recognised industry leader in BNY Mellon Asset Management.’

Through its asset servicing business, Bank of New York Mellon will provide fund accounting and administration services for the new ETFs.

WisdomTree Investments has pioneered fundamentally-weighted indices and ETFs covering major markets in the US and abroad. In contrast with capitalisation-weighted indexes, the WisdomTree Indexes anchor the initial weights of individual stocks to a measure of fundamental value.

WisdomTree Trust is a Delaware statutory trust registered as an open-end investment company of which each WisdomTree ETF is a sub-fund. At the beginning of this year, assets under management in the WisdomTree trust exceeded USD4bn.

Established in 1951 and headquartered in New York, Dreyfus currently manages more than USD260bn in mutual funds, separately managed accounts and institutional portfolios. BNY Mellon Asset Management offers a broad range of equity, fixed-income, hedge and liquidity management products through individual asset management companies and multiple distribution channels.

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