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T. Rowe Price Group, Inc. (TROW) - free report >>
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Wisdom Tree's (WT) July AUM Rises 4% on Favorable Markets
WisdomTree, Inc. (WT - Free Report) reported total assets under management (AUM) of $97.45 billion as of July 31, 2023, which reflected an increase of 4% from the prior-month level. The rise was primarily due the impact of favorable markets and total net inflows.
WT, during the month of July, recorded inflows from the U.S. equity, international developed market equity, emerging market equity, fixed income, cryptocurrency, and leveraged and inverse strategies of $322 million, $226 million, $212 million, $223 million, $5 million and $30 million, respectively.
These inflows were partially offset by outflows from commodity and currency, and alternatives of $673 million and $9 million, respectively.
The year-to-date net inflows of the company have jumped 18.9% to $9 billion, reflecting its organic growth. Further, WisdomTree has generated net inflows year to date in six out of its eight major product categories.
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.
Nonetheless, over the past six months, shares of WisdomTree have gained 7.6% against a decline of 6.7% recorded by the industry.
Image Source: Zacks Investment Research
Currently, WisdomTree carries a Zacks Rank #2 (Buy).
Among other asset managers, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for July in the coming days.
While TROW sports a Zacks Rank #1 (Strong Buy), LAZ carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank stocks here.