Exchange-traded fund (ETF) provider WisdomTree has dropped Western Asset Management as a subadvisor on two actively-managed ETFs: the WisdomTree Brazilian Real Strategy fund and the WisdomTree Emerging Markets Corporate Bond fund, according to a Securities and Exchange Commission filing.
The $22.65 million WisdomTree Brazilian Real Strategy fund will be subadvised by Mellon Capital Management, effective August 29.
The fund, which charges a 0.45% management fee, invests in short-term securities and instruments designed to provide exposure to Brazilian currency and money market rates.
Mellon Capital had $352.5 billion in total assets under management as of June 30.
The $50.73 million WisdomTree Emerging Markets Corporate Bond fund will be subadvised by Voya Investment Management, effective August 23.
Jean-Dominique Butikofer and Anthony A. Routh from Voya’s emerging markets debt team, will replace Leech, Ritter and Lian as portfolio managers on the fund.
The fund, which charges a 0.60% management fee, invests in debt securities issued by corporate entities that are domiciled in or economically tied to emerging market countries.
The Voya emerging markets debt team managed four registered investment companies totaling $376 million in assets and approximately $3.1 billion in other investment vehicles as of June 30.
A WisdomTree spokeswoman confirmed the contents of the filing but declined to comment further.