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SMALL BUSINESS
Claymore Announces Fund Changes
Business Wire
Claymore, an exchange-traded fund (ETF) sponsor with ETF assets
exceeding $2.5 billion*, announced today that it intends to close and
liquidate four lightly followed ETFs. The combined assets of these ETFs
represent less than 0.70%* of its total ETF assets.
“We have taken a reflective review of our current product lineup and
after careful evaluation, we feel that these changes are in the best
interest of shareholders,” said Christian Magoon, President of Claymore
Securities, Inc. “We will continue to assess the needs of investors and
launch products where the potential for marketplace appeal exists.”
December 11, 2009 will be the last day of trading for Claymore/
Morningstar Manufacturing Super Sector Index ETF, Claymore/Morningstar
Information Super Sector Index ETF, Claymore/Morningstar Services Super
Sector Index ETF, and Claymore U.S.-1 – The Capital Markets Index ETF
(together, the “Funds”) on the NYSE Arca. Effective that day, the Funds
will be closed to new investments through creation activity. The NYSE
Arca will halt trading in the Funds before the open of trading on
December 14, 2009.
Shareholders may sell their Fund shares prior to December 14, 2009. It
is anticipated that transactions executed prior to December 14, 2009
will be subject to the fees normally assessed by broker-dealers for such
transactions. From December 14, 2009 through December 18, 2009,
shareholders may be able to sell their shares to certain broker-dealers,
but there can be no assurance that there will be a market for the Funds.
All shareholders remaining on December 18, 2009, will receive a cash
distribution into their brokerage account representing the value of
their shares as of that date, which will also include any capital gains
and dividends.
For additional information, shareholders in these ETFs may call their
financial advisor or Claymore at 888-949-3837.
About Claymore Securities
Claymore Securities, Inc. is a privately-held financial services company
offering unique investment solutions for financial advisors and their
valued clients. Claymore entities have provided supervision, management,
or servicing on approximately $13.3 billion in assets, as of September
30, 2009. Claymore currently offers closed-end funds, unit investment
trusts and exchange-traded funds. Additional information on Claymore’s
exchange-traded funds is available by calling 888.WHY.ETFS
(888.949.3837) or visiting
www.claymore.com/ETFs.
Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc.,
serves as the investment adviser.
*as of 11/24/2009
Risk Considerations:
As with all investments, you may lose the principal amount that you
invest. There can be no assurance that the Funds will achieve their
investment objectives. Please refer to the individual ETF prospectus for
a more detailed discussion of the Fund-specific risks and
considerations. The Index provider and its affiliates do not make any
warranties or bear any liabilities with respect to Claymore.
The Funds issue and redeem shares at NAV only in large blocks of varying
amounts of shares (each block of shares is called a “Creation Unit”), or
multiples thereof. Only broker-dealers or large institutional investors
with creation and redemption agreements, called Authorized Participants
(“APs”), can purchase or redeem these Creation Units. Creation Unit size
varies depending on the ETF. Please see the individual ETF prospectus
for more information. The investors buying or selling ETF shares on the
secondary market may incur brokerage costs and other transactional fees.
Shares of ETFs may fluctuate in price due to daily changes in trading
volume. At times, shares may not have a high volume of trading.
Except
when aggregated in Creation Units, Shares are not redeemable securities
of the Funds.
Investors should carefully consider the investment objectives and
policies, risk considerations, charges and ongoing expenses of the ETF
before investing. The prospectus contains this and other relevant
information. Investors should read the prospectus carefully before
investing. To obtain a prospectus, investors should contact a securities
representative or Claymore Securities, Inc.
|
NOT FDIC - INSURED • NOT BANK - GUARANTEED • MAY LOSE VALUE
|
| Claymore Securities, Inc. • 2455 Corporate West Drive • Lisle, Illinois 60532 |
|
1-888-949-3837 •
www.claymore.com
|
| Member FINRA/SIPC 11/09 |
Copyright Business Wire 2009
2009-11-25 18:04:00
COMMENTS ( 0 )
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