Wisdom Tree adds Australian currency exposure to New Zealand fund

By Toni Weeks

San Diego, Oct. 25 - WisdomTree Investments, Inc. said that the previously announced changes to the WisdomTree Dreyfus New Zealand Dollar Fund became effective Tuesday, according to a company press release.

The fund, which has been renamed WisdomTree Australia & New Zealand Debt Fund, now offers broad-based exposure to local currency debt of both Australia and New Zealand. In addition, the duration of the fund was extended to achieve intermediate-term Australia/New Zealand bond strategy.

"Australia and New Zealand are uniquely situated geographically to potentially benefit from increased economic growth from Asia and currently offer attractive yields compared to other developed markets," president and chief operating officer Bruce Lavine said in the release. "We believe [the fund] offers a convenient way for investors to gain exposure to the local debt from these countries."

WisdomTree is a New York-based exchange-traded fund sponsor and asset manager.

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