WisdomTree Investments (NasdaqGS: WETF), the fifth-largest U.S. issuer of exchange traded funds, will partner with BetaShares, which is majority owned by Horizons ETFs, to expand its reach in Australia. BetaShares is a leading provider of ETFs listed on the Australian Securities Exchange (ASX).
Under the terms of the agreement, BetaShares has been granted exclusive rights to market the full range of WisdomTree US-listed ETFs in Australia and New Zealand to institutional investors, according to a statement.
“In addition, WisdomTree and BetaShares will explore the development of products on the ASX with the aim of providing investors in Australia and New Zealand access to some of the innovative investment strategies pioneered by WisdomTree,” the companies said in the statement.
The BetaShares lineup of ASX-listed products is comprised of 14 ETFs, including U.S. dollar and British pound funds as well as gold, oil and sector offerings.
While still small compared to the U.S. or European ETF market, Australia’s ETF market is growing. Australia ETFs hit a record $12.2 billion in combined assets under management last month, gaining $500 million in new assets, according to BetaShares.
There are currently 92 exchange traded products listed on the ASX.