WisdomTree To Buy ETF Securities’ European ETC Businesses

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November 13, 2017 9:15am NASDAQ:WETF

NASDAQ:WETF | News, Ratings, and Charts

From StockNews.com: WisdomTree Investments, Inc. (NASDAQ:WETF) will acquire the European exchange-traded commodity, currency, and short-and-leveraged businesses from ETF Securities for $611 million.


ETF Securities’ European ETC platform boasts around $17.5 billion in assets under management (AUM) across a total of 307 products. Its flagship offerings include physical gold products PHAU and GBS.

ETF Stream has more details on the move:

We understand that this transaction does NOT include either the European exchange traded funds business – called Canvas – nor the American or Australian business. Based on the announcement these would seem to be staying with a core ETF Securities business.

This deal follows hot on the heels of Invesco’s recent purchase of both Source and the US based Guggenheim ETFs business. The speed of consolidation amongst ETF providers seems to be increasing and this deal firmly catapults WisdomTree into a more powerful position in Europe – increasingly involving a head to head battle with Powershares Source which also boasts a strong footprint in alternative assets and equities.

WisdomTree is currently the seventh largest ETF issuer in the United States, according to ETF.com, with a total of around $46.6 billion in assets under management.

WisdomTree Investments, Inc. shares rose $0.07 (+0.59%) in premarket trading Monday. Year-to-date, WETF has gained 11.37%, versus a 16.76% rise in the benchmark S&P 500 index during the same period.

WETF currently has a StockNews.com POWR Rating of D (Sell), and is ranked #32 of 35 stocks in the Asset Management category.

WisdomTree Investments, Inc. (WETF) rose $0.31 (+2.6%) in premarket trading Monday. Year-to-date, WETF has gained 10.74%, versus a 16.16% rise in the benchmark S&P 500 index during the same period.


This article is brought to you courtesy of StockNews.com.


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