WisdomTree Chief Executive Jonathan Steinberg in a conference call this week said the company was in a quiet period and couldn’t discuss the share offering, or hold a Q&A session.
In a legal update, the CEO said Research Affiliates in December filed a complaint against WisdomTree alleging its stock ETFs infringe on patents that Research Affiliates received concerning fundamentals-based indexing.
“Flat out, we do not believe we are infringing these patents. We engaged two prominent patent law firms who have independently affirmed this analysis,” Steinberg said. “In addition, we believe these patents should be declared invalid.”
On the business side, WisdomTree said its goal is to capture 3% to 5% of ETF industry inflows on an annual basis.
The company is positioned to be a leader in the growth of the ETF industry, said WisdomTree Chief Financial Officer Amit Muni on the conference call Monday.
“We intend to increase our investment in marketing, advertising and sales,” Muni said. “We intend to incrementally add to our headcount, particularly our sales force and operations, and launch new ETFs to continue to diversify our product offering.”
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