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WisdomTree AUM up 11 per cent to record USD7.4bn


WisdomTree, an exchange-traded fund sponsor and asset manager, had assets under management of USD7.4bn at 31 March 2010, up 11 per cent from 31 December 2009.

ETF AUM was USD6.7bn, up 12 per cent from 31 December 2009.

Net inflows into WisdomTree ETFs were USD582m in the first quarter, primarily in emerging market currency and emerging market equity ETFs. Included in this amount was USD152m of outflows related to previously announced fund liquidations which occurred on 29 March 2010.

The company made a GAAP net loss of USD3.6m in the first quarter of 2010, as compared to USD5.0m for the fourth quarter of 2009.

Proforma operating net loss, which excludes stock-based compensation, depreciation and amortization, and interest and investment income, was just below USD1.0m in the first quarter, a 34.3 per cent improvement from a proforma operating net loss of USD1.5min the fourth quarter.

WisdomTree chief executive Jonathan Steinberg (pictured) says: "WisdomTree garnered more than seven per cent of the ETF industry market share in the first quarter and continued to raise assets in emerging market equities and currencies. We continued to build awareness of emerging market currencies as an asset class, led by the WisdomTree Dreyfus Chinese Yuan Fund. CYB is now our second largest fund and is poised to benefit from the potential appreciation of the Chinese yuan, a trend many investors are watching."

On 29 March, WisdomTree completed the planned closure and liquidation of ten ETFs.

On 1 April, the WisdomTree Japan Total Dividend Fund was renamed the WisdomTree Japan Hedged Equity Fund and began to hedge its Japanese yen exposure. Since the change was made, the fund has taken in approximately USD38m.

On 27 April, nine of WisdomTree’s ETFs were cross-listed in Mexico on the Bolsa Mexicana De Valores.

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