WisdomTree Investments, an exchange-traded fund and exchange-traded product sponsor and asset manager, said pre-market Friday its subsidiaries have agreed to acquire Questrade exchange-traded funds. Financial terms of the acquisition were not disclosed. The company said WisdomTree Asset Management Canada and WisdomTree Asset Management entered into a series of agreements with both Questrade Wealth Management and a sister company through which
WisdomTree Canada will offer ETFs on a commission-free basis on Questrade’s platform.
The purchase is subject to regulatory and shareholder approvals, the company said, adding that for most 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.