To Enter Europe Through Majority Stake in U.K. ETP Group Boost ETF Market Veterans Hector McNeil and Nik Bienkowski to Lead Build-Out of WisdomTree Europe WisdomTree and Boost Product Ranges to Serve European Investors, Largest ETP Market After U.S. With More Than $400 Billion in AUM
NEW YORK and LONDON, Jan. 31, 2014 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund ("ETF") sponsor and asset manager with $33.7 billion in assets under management, announced today it will expand into Europe through a majority investment in U.K. based ETP provider Boost. WisdomTree will invest $20 million in working capital to fund the build-out of a local European platform and operations to be led by ETF industry veterans Hector McNeil and Nik Bienkowski. Through this platform, WisdomTree intends to launch a select range of UCITS ETFs under the WisdomTree brand and continue to manage and grow the Boost lineup of short and leveraged fully collateralized ETPs under the Boost brand.
Leading independent ETP group to provide local European solutionsWisdomTree launched its first U.S. listed ETFs in June of 2006 and is the only publicly traded asset manager exclusively focused on the ETF industry. WisdomTree's range of 61 ETFs across Equities, Fixed Income, Currency Income and Alternatives asset classes has approximately $33.7 billion in assets under management. WisdomTree is a market leader in fundamentally weighted ETFs, currency hedged equity ETFs and actively managed ETFs. In seven years, WisdomTree has become the fifth largest ETF provider in the U.S. and the eighth largest globally. "We continue to successfully execute our growth plans in the U.S., the world's largest ETF market, and today's announcement marks the latest in a series of measured steps we have taken to participate in global ETF market growth," said WisdomTree CEO and President Jonathan Steinberg. "We have an important marketing relationship with the Compass Group to serve Latin America and we have made some of our ETFs available for sale in Mexico and Japan. As the second largest ETP market after the U.S., Europe is a strategically important market and is the next natural step given our stage of development. Europe will represent our most significant international effort to date, and we are pleased to enter this market with an accomplished team."