NEW YORK, Jan. 04, 2016 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. (Nasdaq:WETF), an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager, today announced it has completed the acquisition of GreenHaven Commodity Services, LLC, the managing owner of the GreenHaven Continuous Commodity Index Fund (NYSE:GCC), and GreenHaven Coal Services, LLC, the sponsor of the GreenHaven Coal Fund (NYSE:TONS).
WisdomTree has retained GreenHaven Advisors, LLC as the sub-advisor to the funds to conduct portfolio management services.
Jonathan Steinberg, WisdomTree CEO and President, said, “The acquisition of these ETFs represents WisdomTree’s first foray into the commodities space and exemplifies our commitment to growing an innovative, differentiated and diversified product platform. Today in the U.S. alone we offer 88 ETFs across traditional equities and currency-hedged equities, domestic and international fixed income, currencies, and alternatives strategies including commodities.”
The funds will be rebranded as follows: The WisdomTree Continuous Commodity Index Fund (GCC) and The WisdomTree Coal Fund (TONS).
GCC is designed to provide investors with broad based, diversified commodity exposure by using futures contracts to track the Thomson Reuters Equal Weight Continuous Commodity Total Return Index (“CCI-TR”). The CCI-TR is an equal weighted index of 17 commodities plus an additional Treasury Bill yield. The fund had $227 million in assets under management as of December 31, 2015.
TONS is the first ETF designed to offer investors exposure to daily changes in the price of coal futures contracts. The fund had $1 million in assets under management as of December 31, 2015.
WisdomTree Investments, Inc., through its subsidiaries in the U.S. and Europe (collectively, “WisdomTree”), is an exchange-traded fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset manager headquartered in New York. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. WisdomTree currently has approximately $52.5 billion in assets under management globally.
WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.
Source:WisdomTree Investments, Inc.