WisdomTree and BNY Mellon to offer ETFs

WisdomTree Investment Inc. of New York announced today it will partner with The Dreyfus Corp. of New York, a subsidiary of BNY Mellon Asset Management, on international cash- and fixed-income exchange traded fund products. It has 15 such products in registration that include an exchange-traded U.S. cash fund, South African rand fund, Indian rupee fund and Chinese yuan fund. The new products will be part of the WisdomTree Trust, and will be co-branded and marketed by both organizations. Dreyfus will act as subadvisor to the trust. “This really allows us to leverage the resources of one of the oldest financial institutions in America,” said Jonathan Steinberg, chief executive of WisdomTree. It will also allow The Bank of New York Mellon Corp., the parent of both Dreyfus and BNY Mellon Asset Management, a way “to bring the Dreyfus brand into ETFs,” he said. Concerning to possibility of future collaborations with Dreyfus, Mr. Steinberg said: “I wouldn’t preclude anything.”