WisdomTree sees net income of USD4.5m in Q3
Exchange-traded fund sponsor and asset manager WisdomTree Investments has reported net income of USD4.5m for the third quarter of 2012, up from USD1.4m in the third quarter of 2011 and USD0.1m in the second quarter of 2012.
Excluding non-operating expenses related to litigation, shareholder proxy and initial exchange listing fees, proforma operating income was USD4.8m for the third quarter of 2012, up from proforma operating income of USD1.6m in the third quarter of 2011 and USD3.1m in the second quarter of 2012.
Jonathan Steinberg (pictured), WisdomTree chief executive and president, says: "WisdomTree gathered USD1bn in net inflows and further bolstered our equity ETF offerings, launching a China-focused ETF and refining a European currency-hedged equity strategy during the quarter. At a time when many ETF sponsors are competing directly against each other in market capitalisation-weighted, beta exposures, WisdomTree's commitment to innovative, differentiated products has strengthened our competitive position in the industry."
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