The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

WisdomTree
WisdomTree, a New York-headquartered global financial innovator, has continued its run of exchange-traded funds (ETF) with the launch of the WisdomTree True Emerging Markets UCITS ETF (WEM). WEM, which aims to track the price and yield performance, before fees and expenses, of the WisdomTree True Emerging Markets UCITS Index, has a Total Expense Ratio (TER) of 0.25 per cent. This week, WEM listed on Börse Xetra, Borsa Italiana, Euronext Paris and SIX Swiss Exchange, and on the London Stock Exchange.

The proprietary Index is designed to provide diversified exposure to countries that remain genuinely emerging in terms of economic development and capital market maturity, offering investors a more intentional way of accessing long-term emerging market (EM) growth.

Unlike traditional emerging market benchmarks, which can be dominated by a small number of large and increasingly mature markets, the Index uses a systematic, multi-metric framework to identify economies that continue to exhibit development-led growth characteristics. As such, the ETF avoids allocating to China, Korea and Taiwan, which are present in most broad EM strategies, the firm said in a statement.

Traditional emerging market indices have evolved over time and can now be dominated by a small number of large markets and mega-cap companies. As a result, broad EM exposure can increasingly behave like a concentrated country or stock allocation, rather than a diversified investment in development-led growth, the firm continued. The WisdomTree True Emerging Markets UCITS ETF aims to address this challenge by redefining the emerging markets universe associated with development and market maturity, rather than legacy classifications alone.

WEM provides focused exposure to high-growth, under-owned emerging market countries such as India, Brazil, Saudi Arabia, Mexico, South Africa, Indonesia, and Vietnam â€“ economies where demographic tailwinds, digital advancement, and capital market under-penetration continue to offer meaningful long-term growth potential.

“Emerging markets investing is fundamentally about capturing the growth potential that arises as economies transition from lower to middle-income status,” Pierre Debru, head of research, Europe, WisdomTree, said. “This innovative strategy is designed to restore that original intent by focusing on countries where rising incomes, structural change and capital market deepening are still powerful drivers of long-term returns.”

“This launch offers investors a more deliberate way to access emerging market growth, one that aligns more closely with the original rationale for EM investing and complements broader global equity allocations in a disciplined and transparent way,” Alexis Marinof, CEO, Europe, WisdomTree, added.

The firm has been making a number of ETF launches, most recently with the launch of the WisdomTree Asia Defence UCITS ETF (WDAF)  and the WisdomTree Global Defence UCITS ETF (WDGF). US-headquartered investment managers Franklin Templeton and Invesco have also been boosting their range of ETFs recently.

Citigroup, Endowus
Citi Hong Kong â€“ part of Citigroup â€“ and wealth advisory and investment platform Endowus, have launched a joint credit card promotion – "Invest with Clarity, Live in Prestige.” 

Eligible Endowus clients who successfully apply for a new Citi Prestige Card and meet specific requirements during the promotion period will receive a HK$4,000 ($510) cash reward. (The offer is only for new Citi Prestige Card clients.)

Citi Ventures invested in the Endowus Platform in August 2023.