WisdomTree Investments (Nasdaq:WETF), the ETF firm behind the
asset-gathering juggernaut DXJ, today posted a 56 percent jump in
second-quarter net income, the result largely of stellar asset
gathering that has nearly doubled its total assets under management
in the year ended June 30.
'Our robust asset growth is translating into excellent financial
results with record revenues and net income in the second quarter,"
WisdomTree Chief Executive Officer Jonathan Steinberg said in a
The New York-based company, the only pure-play publicly traded
ETF company, earned $12.2 million, or 9 cents a diluted share,
compared with $100,000 in the same year-earlier quarter.
Revenues jumped 83 percent to $37.3 million, driven by a near
doubling of AUM to $29 billion at the end of the current-year
second quarter, from $15 billion as of June 30, 2012, WisdomTree
said today in the press release.
The company's stock, which has more than doubled this year,
climbed 2.23 percent today to $13.74 a share.
'With $5.0 billion in net inflows for the quarter and nearly $11
billion in the first half of 2013, we continued our positive
momentum from the first quarter to achieve a strong second quarter
with record market share gains," Steinberg said, adding that his
firm was the No. 3 asset gatherer among U.S. mutual fund and ETF
complexes in the quarter.
The WisdomTree Japan Hedged Equity Fund (NYSEArca:DXJ), the No.
1 U.S.-listed ETF so far this year in terms of asset gathering,
pulled in $4.22 billion in the second quarter and $8.23 billion in
the first half, according to IndexUniverse's ETF Fund Flows tool.
The ETF has benefited from so-called Abenomics, the nickname for
Japan yen-weakening plans to boost growth.
As of yesterday's close on Thursday, July 25, DXJ had $11.78
billion in assets, or more than a third of WisdomTree's total
assets under management of $31.44 billion, according to
IndexUniverse's latest daily "ETF League Table."
"While we believe the ETF industry is still in its early innings
of growth, WisdomTree is already proving the efficiency and scale
of our business model:We achieved a 33 percent pre-tax margin on a
base of $28.4 billion in average assets,' Steinberg said.
WisdomTree is now the No. 5 U.S. ETF sponsor by assets.
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