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Of the eight Questrade ETFs WisdomTree is acquiring the rights, some are currency hedged. WisdomTree is one of of the dominant providers of currency hedged ETFs. Four are equal-weight plays on U.S. equity stocks in sector such as consumer discretionary, healthcare and technology. Two of the other funds are mid-cap ETFs.
“The acquisition is subject to regulatory and unitholder approvals, and it is expected that for most of the funds, the Questrade ETFs will merge into existing ETFs managed by WisdomTree Canada, while WisdomTree Canada is expected to become the trustee and manager for one of the existing Questrade ETFs,” according to the statement.
Financial terms of the deal were not disclosed.
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