WisdomTree, Inc. (NYSE:WT) Q2 2024 Earnings Conference Call July 26, 2024 11:00 AM ET
Company Participants
Jessica Zaloom - Head, Corporate Communications
Bryan Edmiston - Chief Financial Officer
Jarrett Lilien - President & Chief Operating Officer
Jono Steinberg - Founder & Chief Executive Officer
Jeremy Campbell - Head of Investor Relations
Jeremy Schwartz - Global Chief Investment Officer
Will Peck - Head, Digital Assets
Conference Call Participants
Mike Grondahl - Northland Securities
Keith Housum - Northcoast Research
Anna Lee - Morgan Stanley
Chris Kotowski - Oppenheimer
Operator
Greetings and welcome to the WisdomTree Q2 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Jessica Zaloom, Head of Corporate Communications. Thank you, 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 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 31st, 2023, and quarterly report on Form 10-Q for the quarter ended March 31st, 2024. 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's CFO, Bryan Edmiston.
Bryan Edmiston
Thank you, Jessica and good morning everyone. I'll be covering our second quarter results, along with commentary on our forward-looking guidance before turning the call over to Jarrett and Jono for additional updates on our business.
We ended the quarter with record AUM of $109.7 billion, driven primarily by favorable market conditions. And while our flows were largely muted during the quarter, due to outflows from our commodity products, which tend to be tactical in nature, we continue observing strong engagement in our U.S.-listed ETFs and offshore UCITS ETF suite.
These products generated a combined $1.9 billion of net inflows during the quarter and nearly $4.2 billion of net inflows year-to-date, representing an 11% annualized pace of year-to-date organic growth.
Our flow profile over the course of the year has remixed our blended fee rate higher, averaging approximately 37 basis points during the quarter. Our record AUM continues to drive revenue growth and expanding margins, demonstrating the scalability of our business model.