WisdomTree and BNY Mellon to offer ETFs

The firms will join forces to offer international cash- and fixed-income exchange traded fund products.
JAN 25, 2008
By  Bloomberg
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.”

Latest News

No succession plan? No worries. Just practice in place
No succession plan? No worries. Just practice in place

While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.

Research highlights growing need for personalized retirement solutions as investors age
Research highlights growing need for personalized retirement solutions as investors age

New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.

Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones
Advisor moves: RIA Farther hails Q2 recruiting record, Raymond James nabs $300M team from Edward Jones

With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.

Insured Retirement Institute urges Labor Department to retain annuity safe harbor
Insured Retirement Institute urges Labor Department to retain annuity safe harbor

A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.

LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors
LPL Financial sticking to its guns with retaining 90% of Commonwealth's financial advisors

"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.