Deals & People January 4, 2010

SunTrust Reportedly Trying to Sell Asset Management Biz

SunTrust Banks Inc. is trying to sell RidgeWorth Investments, its multi-boutique asset management business, people familiar with the matter said on Monday, according to Reuters.
Reported by

The sources report that SunTrust is being advised by investment bank Sandler O’Neill on a potential sale of RidgeWorth, which owns interests in eight investment boutiques.

SunTrust and Sandler O’Neill declined to comment, Reuters said.

Products January 4, 2010

WisdomTree Launches International Hedged Equity ETF

WisdomTree has launched the WisdomTree International Hedged Equity Fund (HEDJ).
Reported by

A press release said the exchange-traded fund (ETF) is designed to provide exposure to the non-U.S. equity securities in Europe, Far East Asia, and Australasia, while at the same time neutralizing currency movements in these regions versus the U.S. dollar.

“Traditionally when you invest in international markets you are taking on the currency exposure of those countries,” said Bruce Lavine, WisdomTree President & COO, in an announcement. “This currency exposure can be a significant component of your return: in a weak dollar environment foreign currencies can bolster returns while in a stronger dollar environment the opposite is true. Now through HEDJ, investors essentially have a choice of investing in foreign equities with or without currency exposure.”

More information is available at www.wisdomtree.com.

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