WisdomTree Investments, Inc, an exchange-traded fund (ETF) sponsor and asset manager, has reported net income of USD1.4 million for the third quarter of 2011 as compared to a net loss of USD1.5 million for the third quarter of 2010 and a net income of USD0.7 million in the prior quarter. Revenue increased 75.1% from the third quarter of last year and 6.1% from the second quarter.
WisdomTree CEO Jonathan Steinberg (pictured), says: “I am pleased that WisdomTree generated record revenues and doubled net income from the prior quarter. These numbers represent solid results in a challenging market environment.
“There continues to be significant interest in dividend based strategies as investors deal with volatile market conditions and historically low bond yields. Against this backdrop, we are extremely encouraged by the strong relative performance track records our equity strategies are generating.
“We achieved continued improvement in our year to date market share of industry inflows. We also continued to expand our international fixed income product line, adding the WisdomTree Euro Debt Fund and the WisdomTree Australia & New Zealand Debt Fund in the month of October.”