WisdomTree, Inc. (NYSE:WT) Q2 2023 Earnings Conference Call July 28, 2023 11:00 AM ET

Company Participants

Jessica Zaloom - Head of Corporate Communications

Bryan Edmiston - Chief Financial Officer

Jarrett Lilien - President and Chief Operating Officer

Jonathan Steinberg - Founder and Chief Executive Officer

Jeremy Campbell - Head of Investor Relations

William Peck - Head of Digital Assets

Jeremy Schwartz - Global Chief Investment Officer

Conference Call Participants

Brennan Hawken - UBS

Stephanie Ma - Morgan Stanley

Keith Housum - Northcoast Research

Aidan Hall - KBW

Operator

Greetings and welcome to WisdomTree’s Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

At this time, I would like to hand the call over to Jessica Zaloom, Head of Corporate Communications. Thank you. You may begin.

Jessica Zaloom

Good morning. Before we begin, I would like to reference our legal disclaimer available in today’s presentation. This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A number of factors could cause actual results to differ materially from the results discussed in forward-looking statements, including, but not limited to, the risks set forth in this presentation and in the Risk Factors section of WisdomTree’s annual report on Form 10-K for the year ended December 31, 2022. WisdomTree assumes no duty and does not undertake to update any forward-looking statements.

Now it is my pleasure to turn the call over to WisdomTree CFO, Bryan Edmiston.

Bryan Edmiston

Thank you, Jessica, and good morning, everyone. Let me begin by sharing our results for the second quarter, along with commentary on our expense guidance before turning the call over to Jarrett and Jono for additional updates on our business.

We ended the quarter with $93.7 billion of AUM, a new record and up 3% from the prior quarter due to another strong quarter of positive inflows and market appreciation. Robust and sustainable inflows continue to grow our AUM having generated $2.3 billion in the quarter, which were gathered primarily in our fixed income and international equity products.

It has been 11 consecutive quarters of generating positive flows and our year-to-date flows through the end of June of $8.7 billion translates into a 21% annualized organic flow growth rate. Our AUM currently stands at $97 billion, almost 4% higher from the end of June, having benefited from further inflows and positive market movement.