BNY Mellon Asset Servicing, a unit of Bank of New York Mellon Corp., has been chosen to serve exchange-traded funds in the WisdomTree Dreyfus family of currency ETFs.
The agreement includes fund accounting, administration, global custody, and transfer agency services, the servicing unit said on Thursday.
WisdomTree Investments and Dreyfus Corp., one of the investment boutiques within BNY Mellon Asset Management, have collaborated to start several actively managed exchange-traded funds that offer exposure to foreign currencies. Mellon Capital Management, also an investment boutique within BNY Mellon Asset Management, is the funds' subadviser.
The five currency ETFs are the Wisdom Tree Dreyfus Chinese Yuan Fund, Indian Rupee Fund, Brazilian Real Fund, Japanese Yen Fund, and Euro Fund.
The ETFs seek to earn current income reflective of money market rates available to foreign investors in the specified country.
WisdomTree has developed the first family of fundamentally weighted indexes and ETFs.
