Markets

U.S. open in 28 hrs, 28 mins
10,464.40
30.69
 
0.29%
2,176.05
6.87
 
0.32%
1,110.63
4.98
 
0.45%
100.844
0.25
 
0.25%
5,269.71
-95.10
 
1.77%
9,383.24
-58.40
 
0.62%
22,210.41
-401.39
 
1.78%
0.0172
 
1.15%
-1.20
 
1.36%
1,186.40
-0.60
 
0.05%
77.05
-0.91
 
1.17%
Bookmark and Share

Claymore Announces Fund Changes

Business Wire
posted: 10 HOURS 58 MINUTES AGO
Text SizeAAA
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 )
GOT SOMETHING TO SAY?
YOU'LL BE ASKED TO REGISTER OR SIGN IN BEFORE POSTING A COMMENT.
Make a Comment
Comment
 
Download the Daily Finance iPhone Application

Headlines From AOL Money & Finance Partners

CNBC
The Big Money
Smart Money
Kiplinger.com
The street

Visit Money & Finance for stock quotes, the web's best online portfolio manager and the latest business & financial news. Find out about every aspect of personal finance and money management, from finding the best mortgage rates and preventing identity theft to making money, saving money and investing money.