After announcing plans to shutter 10 of its exchange-traded funds last month, WisdomTree Investments Inc. said it remains focused on adding products.
Luciano Siracusano, chief investment strategist, said during a call that it has no plans to close any more funds. "This is a one-and-done decision to streamline," he said. The funds were closed to "free up bandwidth" and allow WisdomTree "to focus on funds that have been better received by the marketplace."
Amit Muni, WisdomTree's chief financial officer, said the company realized $700,000 to $800,000 in annual cash savings by closing the 10 funds.