WisdomTree Investments notched a record quarter, setting new highs in assets under management, inflows, revenue and income, according to its earnings statement for the quarter ended March 31.
AUM increased to $25.1 billion, up 37.3% from the end of 2012 and up 60% from a year earlier. Inflows were a record $5.9 billion, including $3.9 billion of inflows into its Japan Hedged Equity Fund.
Excluding Japan-related assets, WisdomTree had its second-best quarter with $1.9 billion in inflows across dividend-weighted equity and fixed-income strategies. Total net inflows were $1.1 billion in the fourth quarter and $2.3 billion in the first quarter of 2012, which was the previous high.
WisdomTree's inflows represented a 10.8% market share of the ETF industry, compared to 1.9% in the fourth quarter and 4.3% in the first quarter last year. It also led all ETF firms with emerging markets equity inflows of $876 million, said Jonathan Steinberg, CEO, according to a transcript of an earnings call.
The first four weeks of the second quarter saw further inflows of $1.5 billion, with AUM rising to $27.6 billion, a 50% increase from year-end 2012, Mr. Steinberg said in the call.
In the first quarter, WisdomTree reported record revenue of $29.3 million, up 24.5% from the fourth quarter and up 53.1% year-over-year. Net income came in at $7.9 million, a big jump from $5.3 million in the fourth quarter and $1.1 million in the first quarter of 2012.