COVID-19: A Message from WisdomTree Founder & CEO
As we begin a new week after a few turbulent weeks in the markets, I wanted to express my commitment to the health and wellbeing of all of our stakeholders – our employees and their families, our clients and their clients, our stockholders and our entire franchise – in the wake of COVID-19.
For our employees, I am so proud of how we have all responded. We quickly established a committee of our most senior leaders to monitor and stay ahead of developments. Our priority has been to protect our most important assets, our employees and their families. We quickly suspended all travel and have instituted a work from home policy. I am impressed with my team and how well the entire business has been run remotely.
For our clients, we have the most modern infrastructure as well as a business model that leverages the strengths of the largest and best capitalized financial services firms. Additionally, we believe the ETF product structure offers the best transparency, liquidity, and tax efficiency in the asset management industry. While these are difficult times, we remain committed to helping our clients make sense of these markets. Overnight, the status quo has been turned upside-down and it is now a critical time to reposition for this new reality and for the future. We believe that this also is a time to review asset allocations with a view towards reducing fixed income weightings and increasing weightings in quality, dividend paying ETFs.
Finally, we are committed to the health and wellbeing of our franchise. Like all asset managers, market declines have impacted our business, but WisdomTree remains differentiated, confident and well positioned. We are the only pure play global ETF manager in the world, with a long history of, and commitment to, innovation and noteworthy fund performance. While maintaining these commitments, we are also good stewards of our business and are responsibly managing costs.
We have found that past market dislocations have been followed by large market share gains for ETFs, and we are prepared for that same scenario when the markets eventually rebound.
As they say, crisis does not build character, it reveals it. During this crisis, WisdomTree is revealing its tremendous character. For you our stakeholders, please know that we are confident and optimistic about the future, and here to support you in any way we can.
Be safe and be well.
WisdomTree Founder and CEO