WisdomTree enters commodities ETF space with acquisition of GreenHaven

Nov 6th, 2015 | By | Category: Commodities

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WisdomTree, a leading provider of currency-hedged exchange-traded funds, has announced it has entered into an agreement to acquire GreenHaven Commodity Services, a provider of commodity-based ETFs.

WisdomTree enters commodities ETF space in US with acquisition of GreenHaven

The GreenHaven Continuous Commodity Index Fund offers exposure to a basket of 17 commodities.

This acquisition facilitates WisdomTree’s entrance into the commodities space in the US, a market in which the company has already had success with in Europe through their Boost ETP platform.

WisdomTree CEO and President, Jonathan Steinberg, commented: “WisdomTree’s planned acquisition of these unique commodity funds emphasises our continued commitment to providing differentiated solutions in response to developments in the market and investor preferences.”

The GreenHaven fund range currently comprises the GreenHaven Continuous Commodity Index Fund (NYSE Arca: GCC) and the GreenHaven Coal Fund (NYSE Arca: TONS). The Continuous Commodity fund 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 which comprises 17 equal-weighted commodities plus an additional Treasury Bill yield. The GreenHaven Coal Fund is designed to offer investors exposure to daily changes in the price of coal futures contracts. GCC has $247 million in assets under management and TONS has $1 million in assets under management, as of 28 October 2015.

Purchased for $11.75m, GreenHaven Advisors will remain as the sub-advisor to the funds to conduct portfolio management services. “We’re excited about working with WisdomTree because of its leadership position in the ETF space and outstanding track record of growth,” said Ashmead Pringle, GreenHaven Group President.

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