ETFS资本因战略分歧加大对WisdomTree的压力硬币扬声器

WisdomTree's Battle with Activist Investor: A Clash of Strategies

WisdomTree 与维权投资者的斗争：战略冲突

ETFS Capital, an activist investor with a 10% stake in WisdomTree, has taken its campaign directly to shareholders after the asset manager publicly rejected its proposals.

ETFS Capital 是一家激进投资者，拥有 WisdomTree 10% 的股份，在资产管理公司公开拒绝其提议后，ETFS Capital 直接向股东发起了行动。

Is WisdomTree's Strategy Misaligned with Shareholder Value?

WisdomTree 的战略是否与股东价值不一致？

ETFS Capital contends that WisdomTree's operational decisions, including resource allocation and the foray into decentralized finance, have not maximized returns for investors. The firm believes that optimizing these strategies could boost the stock's valuation by 70% to $15.50 per share, despite a 32% year-to-date appreciation as of March 21, 2024.

ETFS Capital 认为，WisdomTree 的运营决策，包括资源分配和进军去中心化金融，并未为投资者带来最大化回报。该公司认为，优化这些策略可能会使该股的估值提高 70%，达到每股 15.50 美元，尽管截至 2024 年 3 月 21 日，该股今年迄今已升值 32%。

Activist Investor Seeks Shareholder Support

维权投资者寻求股东支持

Despite the public rejection of its proposals, ETFS Capital is now seeking support from WisdomTree's broader shareholder base. The firm is urging investors to "withhold" their votes from certain board members at the upcoming annual meeting, a move designed to highlight shareholder dissatisfaction and pressure the board to reconsider its direction.

尽管其提议遭到公开拒绝，ETFS Capital 目前正在寻求 WisdomTree 更广泛的股东基础的支持。该公司敦促投资者在即将举行的年度会议上“保留”某些董事会成员的投票，此举旨在凸显股东的不满并迫使董事会重新考虑其方向。

Can ETFS Capital Sway Shareholder Opinion?

ETFS 资本能否左右股东的意见？

ETFS Capital has a history of influencing WisdomTree's board dynamics, having successfully elected two candidates in 2023. As the annual meeting approaches, the focus shifts to the reactions of other investors to ETFS Capital's plea for action.

ETFS Capital 有着影响 WisdomTree 董事会动态的历史，曾在 2023 年成功选举出两名候选人。随着年会的临近，焦点转向其他投资者对 ETFS Capital 呼吁采取行动的反应。

Implications for WisdomTree's Future

对 WisdomTree 未来的影响

The public disagreement between ETFS Capital and WisdomTree underscores the potential for significant ramifications for the asset manager's future trajectory and leadership composition. Investors will be closely watching the outcome of the annual meeting and the response from other shareholders to gauge the level of support for ETFS Capital's proposals.

ETFS Capital 和 WisdomTree 之间的公开分歧凸显了这家资产管理公司未来发展轨迹和领导层构成可能产生重大影响的可能性。投资者将密切关注年会的结果以及其他股东的反应，以衡量对 ETFS Capital 提案的支持程度。

ETFS Capital's Chairman Makes Case for Change

ETFS Capital 董事长提出变革理由

In a March 21st letter, ETFS Capital's chairman, Graham Tuckwell, outlined the firm's concerns and the reasons for its "withhold" campaign. Tuckwell stated that private communication efforts with WisdomTree's management had been unsuccessful and that the firm's February proposal, which included exploring strategic options and returning capital to shareholders, had been rejected.

在 3 月 21 日的一封信中，ETFS Capital 董事长 Graham Tuckwell 概述了该公司的担忧以及“扣留”行动的原因。 Tuckwell 表示，与 WisdomTree 管理层的私下沟通努力并不成功，该公司 2 月份的提案（包括探索战略选择和向股东返还资本）已被拒绝。

ETFS Capital's Proposals

ETFS Capital 的建议

ETFS Capital's February proposal included:

ETFS Capital 2 月份的提案包​​括：

• Engaging an investment bank to explore strategic options
• Returning capital to shareholders
• Replacing certain executives

WisdomTree publicly rejected these suggestions in February 2024.

聘请投行探索战略选择向股东返还资本更换部分高管WisdomTree于2024年2月公开拒绝了这些建议。

ETFS Capital's Record of Influence

ETFS Capital 的影响力记录

ETFS Capital has a track record of shaping WisdomTree's board dynamics. In 2023, the firm successfully facilitated the election of two candidates to the board, demonstrating its ability to influence shareholder perspectives.

ETFS Capital 在塑造 WisdomTree 董事会动态方面有着良好的记录。 2023年，该公司成功促成了两名董事会候选人的选举，展示了其影响股东观点的能力。

Shareholders Face Key Decision

股东面临关键决策

With the annual meeting on the horizon, shareholders face a key decision on whether to support ETFS Capital's "withhold" campaign. The outcome of the meeting will provide insight into the level of support for ETFS Capital's proposals and the potential for a shakeup in WisdomTree's leadership.

年会即将召开，股东们面临着是否支持 ETFS Capital 的“扣留”行动的关键决定。会议的结果将深入了解 ETFS Capital 提案的支持程度以及 WisdomTree 领导层改组的可能性。