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WisdomTree (NASDAQ: WETF) has announced the renaming and enhancements of the WisdomTree Modern Tech Platforms Fund to the WisdomTree Growth Leaders Fund (PLAT). Key improvements include a reduction in expense ratio from 45 bps to 20 bps, a new requirement for at least 7% revenue growth, and limitations on non-U.S. exposure. The fund targets high growth, mid- and large-cap companies beyond the FAANG stocks, focusing on the dominant platform business model. The adjustments reflect WisdomTree's strategy to enhance index performance and cater to investor demand.
WisdomTree Investments reported a 14.6% increase in assets under management (AUM), reaching $57.6 billion in Q2 2020, benefiting from market recovery following COVID-19 declines. However, the company posted a net loss of $13.3 million, driven by $23 million in non-cash charges. Operating revenues fell 9% to $58.1 million due to lower average AUM and advisory fees. The firm executed a $150 million convertible notes issuance and repurchased 6.7 million shares, indicating improved financial flexibility amidst ongoing market volatility.
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On July 27, 2020, WisdomTree (NASDAQ: WETF) announced the addition of its Modern Alpha® ETF Model Portfolios to leading advisor fintech platforms, including Carson Group, Riskalyze, Kwanti, ETFLogic, and Orion. This expansion reflects WisdomTree’s commitment to providing robust investment solutions to advisors. The portfolios are designed to meet diverse investor needs, from conservative to aggressive strategies, and feature a combination of active and passive approaches. WisdomTree emphasizes the importance of model portfolios for scaling advisor businesses and improving client services.
WisdomTree Investments, Inc. (NASDAQ: WETF) will disclose its second-quarter results on July 31, 2020, at 7:00 a.m. ET, followed by a conference call at 9:00 a.m. ET. The call will feature insights on the company’s financial performance and future outlook. Investors can access the live conference via the web or by dialing specific international and toll-free numbers. As of now, WisdomTree manages approximately $58.8 billion in assets globally, offering a range of products across various asset classes.
WisdomTree Investments (NASDAQ: WETF) announced a private offering of $150 million in convertible senior notes due 2023, with an additional $22.5 million option. Proceeds will be used to repay senior secured term loans and repurchase $25 million in common stock. The notes are convertible under specific conditions and may be redeemed by WisdomTree starting June 2021. The offering is targeted at qualified institutional buyers and is not registered under the Securities Act.
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