Guggenheim Partners, LLC (“Guggenheim Partners”), a global
diversified financial services firm, and Claymore Group Inc.
(“Claymore”), a leading provider of innovative investment products,
including exchange-traded funds (“ETFs”), closed-end funds (“CEFs”
and, together with the ETFs, the “Funds”) and unit investment
trusts, announced that they have entered into an agreement and plan
of merger. As part of the transaction, Claymore and its associated
entities, including Claymore Securities, Inc., Claymore Advisors,
LLC and Claymore Investments, Inc. in Canada, will become indirect
wholly-owned subsidiaries of Guggenheim Partners. The terms of the
transaction were not disclosed. Claymore anticipates there will be
no change in the services Claymore and its associated entities
provide to the Funds as a result of this transaction.
“We are extremely pleased to have entered into this agreement
with Claymore,” stated Mark Walter, chief executive officer of
Guggenheim Partners. “Claymore has clearly established itself as a
leader within the retail investment space and perfectly complements
our already robust institutional investment management
capabilities. The transaction will enhance our retail distribution,
product development and marketing prowess, especially among
financial advisors. Like Guggenheim Partners, Claymore embraces
innovation while remaining entirely focused on the needs of its
clients. Together, we will reach a broader array of investors with
innovative financial products as well as best-in-class asset
management and research services.”
“This is a tremendous opportunity for Claymore and our clients,”
said David Hooten, chairman and chief executive officer of
Claymore. “As part of a platform as strong and significant as
Guggenheim Partners, we will be able to continue developing our
unique investment products for financial advisors and retail
investors.”
The transaction is subject to customary regulatory and other
approvals and is expected to close at the end of the third quarter
of this year.
Claymore Advisors serves as the Investment Adviser and, with the
exception of WIW, the Administrator, for the following U.S.
CEFs:
Ticker Fund Name
AGC
Advent/Claymore Global Convertible
Securities & Income Fund
DCS
Claymore Dividend & Income
Fund
FMO
Fiduciary/Claymore MLP Opportunity
Fund
GOF
Claymore/Guggenheim Strategic
Opportunities Fund
LCM
Advent/Claymore Enhanced Growth
& Income Fund
MCN
Madison/Claymore Covered Call
& Equity Strategy Fund
OLA
Old Mutual/Claymore Long-Short
Fund
TYW
TS&W/Claymore Tax-Advantaged
Balanced Fund
WIW
Western Asset/Claymore
Inflation-Linked Opportunities & Income Fund
Claymore Advisors serves as the Investment Adviser and the
Administrator for the following U.S. ETFs:
Ticker Fund Name
CGW
Claymore S&P Global Water
Index ETF
CRO
Claymore/Zacks Country Rotation
ETF
CSD
Claymore/Beacon Spin-Off ETF
CUT
Claymore/Beacon Global Timber
Index ETF
CVY
Claymore/Zacks Multi-Asset Income
Index ETF
CZA
Claymore/Zacks Mid-Cap Core
ETF
DEF
Claymore/Sabrient Defensive Equity
Index ETF
EEB
Claymore/BNY Mellon BRIC ETF
EEN
Claymore/BNY Mellon EW
Euro-Pacific LDRs ETF
ENY
Claymore/SWM Canadian Energy
Income Index ETF
EXB
Claymore/Beacon Global Exchanges,
Brokers & Asset Managers Index ETF
FAA
Claymore/NYSE Arca Airline ETF
FRN
Claymore/BNY Mellon Frontier
Markets ETF
HAO
Claymore/AlphaShares China Small
Cap Index ETF
HGI
Claymore/Zacks International
Multi-Asset Income Index ETF
IRO
Claymore/Zacks Dividend Rotation
ETF
LVL
Claymore/S&P Global Dividend
Opportunities Index ETF
MZG
Claymore/Morningstar Manufacturing
Super Sector Index ETF
MZN
Claymore/Morningstar Information
Super Sector Index ETF
MZO
Claymore/Morningstar Services
Super Sector Index ETF
NFO
Claymore/Sabrient Insider ETF
OTP
Claymore/Ocean Tomo Patent ETF
OTR
Claymore/Ocean Tomo Growth Index
ETF
ROB
Claymore/Robb Report Global Luxury
Index ETF
RYJ
Claymore/Raymond James SB-1 Equity
ETF
SEA
Claymore/Delta Global Shipping
Index ETF
STH
Claymore/Sabrient Stealth ETF
TAN
Claymore/MAC Global Solar Energy
Index ETF
TAO
Claymore/AlphaShares China Real
Estate ETF
UBD
Claymore U.S. Capital Markets Bond
ETF
ULQ
Claymore U.S. Capital Markets
Micro-Term Fixed Income ETF
UEM
Claymore U.S.-1 – The Capital
Markets Index ETF
XGC
Claymore/BNY Mellon International
Small Cap LDRs ETF
XRO
Claymore/Zacks Sector Rotation
ETF
For each of those Funds for which Claymore Advisors serves as
Investment Adviser, consummation of the transaction will be deemed
to be an “assignment” of the investment advisory agreements for
purposes of the Investment Company Act of 1940, as amended, and
will therefore result in the automatic termination of those
agreements. With respect to each of the aforementioned CEFs,
Claymore Advisors has also entered into an investment sub-advisory
agreement or investment management agreement with independent
investment sub-advisers or investment managers, which will also be
terminated upon consummation of the transaction. The Boards of
Trustees or Boards of Directors, as applicable, of those Funds will
consider new, as well as interim, investment advisory agreements
and investment sub-advisory agreements and investment management
agreements, as necessary. If approved by the Boards, the new
agreements would be presented to the shareholders of those Funds
for approval. The interim agreements will run for a period of time
not to exceed 150 days while shareholder approval is being sought
for the new agreements.
Claymore Advisors serves as Administrator and Claymore
Securities serves as the Servicing Agent for the following U.S.
CEFs:
Ticker Fund Name
AVK
Advent Claymore Convertible
Securities and Income Fund
MZF
MBIA Capital/Claymore Managed
Duration Investment Grade Municipal Fund
The administration agreements of the Funds will not terminate
automatically as a result of the Guggenheim transaction. The Funds’
Boards of Trustees or Boards of Directors, as applicable, however,
will continue to monitor the services provided by Claymore Advisors
to ensure that the continuation of these agreements remains in the
best interests of shareholders.
In addition, Claymore Securities serves as the Servicing Agent
for the following U.S. CEFs:
Ticker Fund Name
FFC
Flaherty & Crumrine/Claymore
Preferred Securities Income Fund
FLC
Flaherty & Crumrine/Claymore
Total Return Fund
WIA
Western Asset/Claymore
Inflation-Linked Securities & Income Fund
The servicing agreements for the five aforementioned funds will
automatically terminate as a result of the Guggenheim transaction.
The Funds’ Boards of Trustees or Boards of Directors, as
applicable, will consider new servicing agreements for those Funds;
however, shareholder approval of new servicing agreements is not
required.
Guggenheim Partners, LLC is a diversified financial services
firm with more than $100 billion in assets under supervision. The
firm’s businesses include investment management, investment
advisory, investment banking and capital markets services. The firm
is headquartered in Chicago and New York with a global network of
offices throughout the United States, Europe and Asia. For more
information, please visit www.guggenheimpartners.com.
Based in Lisle, Illinois, Claymore is a privately-held financial
services company offering unique investment solutions for financial
advisors and their valued clients. Claymore entities have provided
supervision, management, servicing and/or distribution on
approximately $12.9 billion in assets, as of June 30, 2009.
Claymore currently offers CEFs, unit investment trusts and ETFs.
Registered investment products are sold by prospectus only and
investors should read the prospectus carefully before
investing.
This information does not represent an offer to sell securities
of the Funds and it is not soliciting an offer to buy securities of
the Funds. An investment in any investment product is subject to
certain risks and other considerations, including the possible loss
of the entire principal amount you invest. There can be no
assurance that any investment product will achieve its investment
objectives. An investment in non-U.S. issuers involves risks that
are in addition to the risks associated with domestic issuers; and
therefore, may be subject to additional currency, political,
economic, and market risks. The net asset value of the Funds will
fluctuate with the value of the underlying securities. It is
important to note that closed-end funds trade on their market
value, not net asset value, and closed-end funds often trade at a
discount to their net asset value.
Investors should carefully consider the investment objectives
and policies, risk considerations, charges and ongoing expenses of
any investment product before investing. The prospectus contains
this and other relevant information. Please read the prospectus
carefully before you invest. To obtain a prospectus, please contact
a securities representative Claymore Securities, Inc., 2455
Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.
Member FINRA/SIPC (8/09)
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE
VALUE
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