WisdomTree Provides Update on Company Progress
NEW YORK--(BUSINESS WIRE)--
WisdomTree Investments, Inc. (Pink Sheets: WSDT) made the following announcements today:
WisdomTree Revises Timeframe to Re-list on the NASDAQ Global Market
The Company has revised plans to re-list on the NASDAQ Global Market. In view of market conditions and a $5 minimum stock price requirement, the Company does not expect to re-list until the second quarter of 2008, at the earliest.
WisdomTree Provides Update on Company Growth
In the three years since the group led by Michael Steinhardt made the initial $9 million investment in WisdomTree, the Company has raised an additional $66 million in financing and currently has more than $47 million in cash and U.S. government securities on its balance sheet.
In the 17 months since the launch of its first ETFs, the Company has listed a total of 39 equity funds through the WisdomTree Trust, attracting more than $4.6 billion in assets under management. The Company currently offers the most comprehensive lineup of international ETFs with 27 funds covering the developed world, emerging markets and non-U.S. sectors. The Company states that more than 75% of total assets under management are invested in its international product set.
The Company has also expanded its sales and operations functions to rapidly commercialize its intellectual property through diverse channels including licensing and institutional separate accounts. In addition, the Company has assumed a leadership role in bringing ETFs into the $3 trillion retirement market, by launching the WisdomTree 401(k) platform -- the first open-architecture platform to combine ETFs and no-load mutual funds.
WisdomTree CEO, Jonathan Steinberg comments, "The last three years have been exciting for WisdomTree, and we expect continued growth as the ETF industry matures. Today, nearly $12 trillion are invested in traditional mutual funds and approximately $2 trillion in hedge funds. In view of the size of the market, the $500 million domestic ETF market has tremendous potential, and we believe WisdomTree will contribute significantly to the future growth of the industry. In 2008 we look forward to becoming the first fully reporting, publicly traded ETF sponsor."
WisdomTree, whose common stock is currently traded on the pink sheets, has voluntarily been making its financial statements (both audited annual statements and reviewed quarterly statements) available to the public since September 2005. These statements are accessible at www.pinksheets.com.
About WisdomTree Investments, Inc.
WisdomTree Investments, Inc. has developed the first family of fundamentally weighted indexes and ETFs. The WisdomTree Indexes cover all major market capitalizations, both domestically and internationally. In contrast to capitalization-weighted indexes, the WisdomTree Indexes anchor the initial weights of individual stocks to a measure of fundamental value. The company believes its approach provides investors with a viable alternative to market cap-weighted indexes. WisdomTree launched its first ETF products on June 16, 2006 and currently manages over $4.6 billion in assets.
(C) 2007 WisdomTree Investments, Inc. "WisdomTree" is a service mark of WisdomTree Investments, Inc. WisdomTree Investments, Inc. has patents pending on the methodology and operation of its indexes
Source: WisdomTree Investments, Inc.
Released November 12, 2007