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WisdomTree makes GAAP net loss of USD5m in Q4


WisdomTree, an exchange-traded fund sponsor and asset manager, has reported a GAAP net loss of USD5.0 m in the fourth quarter of 2009, flat with the third quarter.

Proforma operating net loss, which excludes stock-based compensation, depreciation and amortization, and interest and investment income, was USD1.5m in the fourth quarter, a 37.7 per cent improvement from a proforma operating net loss of USD2.4m in the third quarter.

For the full year, net loss was USD21.2m compared to USD27.0m in 2008.

Proforma operating net loss for the full year was USD11.3m, a 39.8 per cent improvement from proforma operating net loss of USD18.7m in 2008.

WisdomTree chief executive Jonathan Steinberg says: “WisdomTree achieved our best fourth quarter in company history. We are encouraged to see the market responding to our innovations in the emerging markets – namely the industry’s first India, and emerging markets small cap ETFs, as well as the first “1940 Act” family of currency ETFs which collectively were responsible for the majority of the USD911 m net inflows in the fourth quarter.”

As of 31 December 2009, assets under management managed by WisdomTree or against WisdomTree Indexes by third parties under license from WisdomTree was USD6.7bn and ETF AUM was USD6.0bn, both up 22 per cent from 30 September 2009.

Net inflows into WisdomTree ETFs were USD911m in the fourth quarter primarily in emerging market currency and emerging market equity ETFs. For the full year, ETF AUM increased 88 per cent and net inflows were USD1.8bn.

WisdomTree’s fundamentally weighted ETFs experienced relatively strong investment performance through the fourth quarter. Approximately 76 per cent of the USD5.1bn invested in WisdomTree’s 42 equity ETFs on 31 December 2009 were in funds that, since their respective inceptions, have outperformed their benchmarks through that date. Twenty six of WisdomTree’s 42 equity ETFs outperformed their comparable benchmarks since inception and through the fourth quarter of 2009.

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