Wed, 20/02/2013 - 06:01
Guggenheim Investments, the investment management division of Guggenheim Partners, is to liquidate nine exchange-traded funds in March in order to focus resources on products that have demonstrated the most marketplace demand.
Earlier this month, the boards of rrustees of the Claymore Exchange Traded Fund Trust, the Claymore Exchange Traded Fund Trust 2 and the Rydex ETF Trust approved the closing and subsequent liquidations of the selected ETFs.
The average size of the nine closing ETFs is USD16 million, for a total of USD144m, roughly one per cent of Guggenheim Investments' total USD13.7bn in exchange-traded assets as of 31 January 2013.
The last day of trading on the NYSE Arca for shares of the following ETFs is expected to be on 15 March 2013:
Guggenheim ABC High Dividend ETF3 (ABCS)
Guggenheim MSCI EAFE Equal Weight ETF2 (EWEF)
Guggenheim S&P MidCap 400 Equal Weight ETF2 (EWMD)
Guggenheim S&P SmallCap 600 Equal Weight ETF2 (EWSM)
Guggenheim Airline ETF3 (FAA)
Guggenheim 2x S&P 500 ETF2 (RSU)
Guggenheim Inverse 2x S&P 500 ETF2 (RSW)
Wilshire 5000 Total Market ETF3 (WFVK)
Wilshire 4500 Completion ETF3 (“WXSP)
“Guggenheim remains committed to the ETF business, and this evolution is a natural and necessary part of the process to ensure we are meeting our clients' needs," says William Belden, managing director and head of product development. "We are dedicated to providing high quality investment solutions for our clients and our product development pipeline is positioned well to deliver unique ETF products.
“Since 1 January, 2012 through 1 February, 2013, our equity and fixed-income ETF assets have increased USD4.12bn or 55 per cent."
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