WisdomTree, Inc. (NYSE:WT) Q1 2024 Results Conference Call April 26, 2024 11:00 AM ET
Company Participants
Jessica Zaloom - Head of Corporate Communications
Bryan Edmiston - Chief Financial Officer
Jarrett Lilien - President and Chief Operating Officer
Jono Steinberg - Founder and Chief Executive Officer
Jeremy Campbell - Head of Investor Relations
Will Peck - Head of Digital Assets
Jeremy Schwartz - Global Chief Investment Officer
Conference Call Participants
Adam Beatty - UBS
Keith Housum - Northcoast Research
Michael Cyprys - Morgan Stanley
Operator
Greetings. Welcome to the WisdomTree First Quarter 2024 Earnings Call. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference today is being recorded.
At this time, I will turn the conference over to Jessica Zaloom, Head of Corporate Communications. Jessica, 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 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, 2023. 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 first quarter along with commentary on our expense guidance before turning the call over to Jarrett and Jono for additional updates on our business.
We continue to demonstrate our ability to grow organically, having generated $2 billion of net inflows during the quarter. Sustainable flows have been a continuing theme with over 3 years of positive momentum and our results this quarter illustrate the breadth and depth of our product lineup and serve as a proof point in our ability to put points on the board away from USFR.
Our $2 billion of inflows were broad and diverse and generally into products with higher fees, which has remixed our blended fee rate higher, setting the table for higher revenue capture for the second quarter. Our inflows, coupled with positive movement resulted in us ending the quarter with record AUM of $107.2 billion.