The Bank of New York Appointed Servicer and Sub-Advisor for New AMEX WisdomTree ETFs
NEW YORK, March 7, 2007 -- The Bank of New York, a global leader in securities servicing and asset management, has been appointed servicer and sub-advisor for six new WisdomTree earnings-weighted exchange traded funds (ETFs) that are listed on the American Stock Exchange. The Bank will provide worldwide custody, accounting, fund administration and specialized ETF services, as well as serve as sub-advisor for each of the new ETFs. The Bank already serves a similar role for 30 other WisdomTree ETFs that currently trade on the New York Stock Exchange.
Introduced in June 2006, the WisdomTree indices are designed to deliver broad market exposure across major market capitalizations, both domestically and internationally. To date, the WisdomTree ETFs have $2.6 billion in assets.
Jonathan Steinberg, chief executive officer of WisdomTree Investments, said, “The Bank of New York is a valued partner and played an important role in supporting the introduction of Wisdom Tree’s ETFs to investors. We are excited to expand our relationship with our new earnings-weighted funds.”
Edward McGann, managing director and head of U.S. client relationship management at The Bank of New York, said, “The Bank of New York has well-established and broad-based capabilities to service and advise the ETF industry. This expansion of our relationship with WisdomTree is further evidence of our leadership role as well as our commitment to partnering with clients to bring new products to market quickly and effectively.”
Through BNY Asset Management, the investment management arm of the firm, the Bank will serve as sub-advisor to the funds and perform the day-to-day portfolio management functions.
The Bank of New York and its affiliates support a comprehensive and flexible range of fund structures around the world, including open and closed end funds, exchange-traded funds, hedge funds, and unit investment trusts. Teams of dedicated experts are located worldwide, including Bermuda, Brussels, Cayman, Dublin, Florida, Jersey/Guernsey/Isle of Man, London, Luxembourg, New York and Singapore.
BNY Asset Management offers corporations, public funds, Taft/Hartley plans, nonprofit organizations and high net-worth individuals and families a broad range of equity, fixed-income and alternative investment products. With $131 billion in assets under management as of December 31, 2006, BNY Asset Management is one of the largest investment managers in the world.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
WisdomTree Trust is a Delaware statutory trust registered as an open-end investment company with the Securities and Exchange Commission. Each WisdomTree ETF is a series of WisdomTree Trust. As of February 2007, assets under management in the WisdomTree Trust are $2.4 billion.
WisdomTree Funds are distributed by ALPS Distributors, Inc.
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