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Rating:Asset Growth Goes Negative at WisdomTree Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 28, 2011

Asset Growth Goes Negative at WisdomTree

News summary by MFWire's editors

One of the innovative growth stories of the mutual fund industry is WisdomTree [profile]. Yet, the third quarter market downdraft put that growth into reverse. WisdomTree CEO Jonathan Steinberg disclosed Friday that the Manhattan mutual fund firm saw its AUM slip $1.7 billion to $11.2 billion from $12.9 billion at the end of June.

Steinberg's focus, however, was on WisdomTree's 4.1 percent share of ETF flows during the past quarter. That was up from a 2.6 percent share of the ETF net flows industry wide during the same period in 2010.

For a stock sold as a growth play -- and priced as such -- growing market share is a key variable.

Yet, the inflows of $179 million during the quarter could not overcome $1.9 billion of market losses in the portfolios managed at WisdomTree. Total inflows into the mutual fund firm's ETFs were $3.1 billion, showing that the churn in the products remains high.

WisdomTree also showed a positive bottom line. It earned $2.2 million in the third quarter, a strong turnaround from a $7 million loss reported a year ago. 

Edited by: Sean Hanna, Editor in Chief

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