Yahoo Finance Wisdom Tree (WT) April AUM Declines 1.2% on Net Outflows
WisdomTree, Inc. WT reported total assets under management (AUM) of $105.96 billion as of Apr 30, 2024, which reflected a 1.2% decline from the prior-month level. The decline was primarily caused by the impacts of total net outflows.
WT, during April, recorded inflows of $185 million, $540 million, $18 million and $18 million from the U.S. equity, international developed market equity, cryptocurrency and alternatives, respectively.
These inflows were partially offset by outflows from emerging market equity, commodity and currency, and fixed income of $221 million, $993 million and $117 million, respectively.
There were no funds from leveraged and inverse strategies.
The company’s strong organic growth profile, along with a solid AUM balance, is likely to aid its top line in the near term. However, a challenging operating environment is a major near-term headwind, which might hurt its financials to some extent.
Over the past six months, WT shares have risen 37.7% compared with 19.9% growth of the industry.
Image Source: Zacks Investment Research
Currently, WisdomTree carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. BEN reported its preliminary AUM of $1.60 trillion as of Apr 30, 2024. This reflected a decrease of 2.5% from the prior month’s level.
The decline in the AUM balance was primarily caused by the impact of negative markets and long-term net outflows, including $5.9 billion related to the $25-billion AUM received from the Great-West Lifeco acquisition.
Virtus Investment Partners, Inc. VRTS recorded a sequential decline of 5.2% in its preliminary AUM balance for April 2024. The company reported a month-end AUM of $170.06 billion, down from the Mar 31, 2024, level of $179.31 billion.
VRTS offered services to $2.6 billion of other fee-earning assets. This was excluded from the above-mentioned AUM balance.
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