Claymore Securities Announces the Launch of Two New ETFs
01 Marzo 2007 - 8:33AM
Business Wire
Claymore Securities, Inc. today launched its two newest
exchange-traded funds (ETFs) on the American Stock Exchange. These
new Claymore ETFs, the Claymore/Robeco Developed International
Equity ETF (AMEX: EEN) and the Claymore/Robeco Developed World
Equity ETF (AMEX: EEW), are U.S.-listed international and global
ETFs, which seek to replicate indices that incorporate modern
portfolio theory. �The Robeco Developed International Equity Index
and Robeco Developed World Equity Index represent a new chapter in
international indices,� said Bill Kelly, CEO, Robeco Investment
Management, Inc. �To develop these indices, Robeco Group�s
Quantitative Equity Group in New York and Quantitative Strategies
Group in Rotterdam incorporated portfolio risk management tools,
including a quantitative risk model and portfolio optimizer, in an
effort to balance potential risk with reward. The indices are the
product of Robeco�s highly experienced and successful quantitative
talent.� The Claymore/Robeco Developed International Equity ETF
(EEN) and the Claymore/Robeco Developed World Equity ETF (EEW)
bring alpha-driven strategies to international and global investing
through direct investment in foreign ordinary securities and
American Depositary Receipts. "We are delighted to be the first
among our peers to partner with a respected global organization
like Robeco to bring these unique products with international alpha
strategies to market," said David. C. Hooten, Chairman and Chief
Executive Officer, Claymore Securities, Inc. "For the first time, a
$187 billion European active investment manager will be an index
provider in the U.S. ETF market." The two new ETFs from Claymore
are: Claymore/Robeco Developed International Equity ETF (AMEX: EEN)
The Claymore/Robeco Developed International Equity ETF seeks
investment results that correspond generally to the performance,
before the Fund�s fees and expenses, of an equity index called the
Robeco Developed International Equity Index (the �Index�). The
Index is designed to invest in liquid, tradable international
securities in developed markets excluding the United States and
Canada with market capitalizations of U.S. $1 billion or greater.
The Index constituent selection methodology was developed by Robeco
as a 100% quantitative, rules-driven approach to identify companies
that offer the greatest potential for price appreciation with
strong risk diversification. Portfolio risk management tools,
including a quantitative risk model and portfolio optimizer, are
utilized to balance risk and reward. For comparative purposes the
Robeco Developed International Equity Index could be compared to
the MSCI EAFE� Index. Claymore/Robeco Developed World Equity ETF
(AMEX: EEW) The Claymore/Robeco Developed World Equity ETF seeks
investment results that correspond generally to the performance,
before the Fund�s fees and expenses, of an equity index called the
Robeco Developed World Equity Index (the �Index�). The Index is
designed to invest in liquid, tradable global securities in
developed markets that include the United States and Canada with
market capitalizations of U.S. $1 billion or greater. The Index
constituent selection methodology was developed by Robeco as a 100%
quantitative, rules-driven approach to identify companies that
offer the greatest potential for price appreciation with strong
risk diversification. Portfolio risk management tools, including a
quantitative risk model and portfolio optimizer, are utilized to
balance risk and reward. For comparative purposes the Robeco
Developed World Equity Index could be compared to the MSCI World
IndexSM. About Claymore Securities Claymore Securities, Inc. is a
privately-held financial services company offering unique
investment solutions for financial advisors and their valued
clients. As of January 31, 2007, Claymore entities have provided
supervision, management, servicing or distribution on approximately
$16 billion in assets through closed-end funds, unit investment
trusts, mutual funds, separately managed accounts and
exchange-traded funds. Claymore Advisors, LLC, an affiliate of
Claymore Securities, is the investment adviser to the funds. About
Robeco Investment Management, Inc. Robeco Investment Management,
Inc. is the U.S. asset management arm of global fund manager Robeco
Group, headquartered in the Netherlands, with assets of
approximately $187 billion, globally. The Robeco Investment
Management platform is comprised of three divisions: Robeco Boston
Partners, Robeco Sage and Robeco Weiss, Peck & Greer. Products
include U.S. equity, U.S. fixed income, fund of hedge funds and
alternatives. Additionally, the firm offers global and
international equity, including emerging markets, and fixed income
products through its European affiliates. Important Risks and Other
Considerations 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. There can be no assurance that the funds
will achieve their investment objectives. An investment in the
various Claymore ETFs is subject to certain risks and other
considerations. Such risks and considerations include, but are not
limited to: Investment Risk: An investment in the Funds is subject
to investment risk, including the possible loss of the entire
principal amount that you invest. Equity Risk: The risk that the
value of the securities held by the Funds will fall due to general
market and economic conditions, perceptions regarding the
industries in which the issuers of securities held by the Fund
participate, or factors relating to specific companies in which the
Funds invests. Foreign Investment Risk: The Fund�s investments in
non-U.S. issuers may involve unique risks compared to investing in
securities of U.S. issuers, including, among others, greater market
volatility than U.S. securities and less complete financial
information than for U.S issuers. The Fund�s investments in foreign
securities may involve higher costs than investments in U.S.
securities, including higher transaction and custody costs as well
as the imposition of additional taxes by foreign governments. The
Fund�s foreign investments may also involve risks associated with
the level of currency exchange rates, less complete financial
information about the issuers, less market liquidity, more market
volatility and political instability. Future political and economic
developments, the possible imposition of withholding taxes on
dividend income, the possible seizure or nationalization of foreign
holdings, the possible establishment of exchange controls or
freezes on the convertibility of currency, or the adoption of other
governmental restrictions might adversely affect the Fund�s
investments in foreign securities. Additionally, foreign issuers
may be subject to less stringent regulation, and to different
accounting, auditing and recordkeeping requirements. In addition,
the underlying issuers of certain depositary receipts, particularly
unsponsored or unregistered depositary receipts, are under no
obligation to distribute shareholder communications to the holders
of such receipts, or to pass through to them any voting rights with
respect to the deposited securities. Industry Risk: While the Funds
do not concentrate in any industry, to the extent that the Funds
focus their investments in a particular industry or group of
related industries, the NAV of the Funds will be more susceptible
to factors affecting that industry or sector. Non-Correlation Risk:
The Fund�s return may not match the return of the Index for a
number of reasons. For example, the Fund incurs a number of
operating expenses not applicable to the Index, and incur costs in
buying and selling securities, especially when rebalancing the
Funds� securities holdings to reflect changes in the composition of
the Index. Small and Medium-Sized Company Risk: Investing in
securities of small and medium-sized companies involves greater
risk than is customarily associated with investing in more
established companies. These companies' stocks may be more volatile
and less liquid than those of more established companies. These
stocks may have returns that vary, sometimes significantly, from
the overall stock market. Replication Management Index: Unlike many
investment companies, the funds are not "actively" managed.
Therefore, it would not necessarily sell a stock because the
stock's issuer was in financial trouble unless that stock is
removed from the Index. Issuer-Specific Changes: The value of an
individual security or particular type of security can be more
volatile than the market as a whole and can perform differently
from the value of the market as a whole. The value of securities of
smaller issuers can be more volatile than that of larger issuers.
Non-Diversified Fund Risk. The Fund is considered non-diversified
and can invest a greater portion of assets in securities of
individual issuers than a diversified fund. As a result, changes in
the market value of a single investment could cause greater
fluctuations in share price than would occur in a diversified fund.
Robeco Investment Management, Inc. makes not warranty, express or
implied, as to results to be obtained by licensee, owners of the
product, or any other person or entity from the use of the index or
any data included therein in connection with the rights licensed
hereunder or for any other use. Robeco makes no express or implied
warranties, and hereby expressly disclaims all warranties of
merchantability or fitness for a particular purpose or use with
respect to the index or any data included therein. Without limiting
any of the foregoing, in no event shall Robeco have any liability
for any special, punitive, indirect, or consequential (including
lost profits), even if notified of the possibility of such damages.
Robeco Investment Management, Inc. determines, composes and
calculates the index without regard for the product. The product
itself is not sponsored, endorsed, sold or promoted by Robeco.
Robeco has no obligation or liability regarding the administration,
marketing or trading of the product, and makes no representation or
warranty to the owners of the product, or to any member of the
public, regarding investing in securities generally or in the
product particularly. 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 Fund. The Funds issue and redeem
shares at NAV only in large blocks of 200,000 shares (each block of
200,000 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. Deliveries of Fund
Securities to redeeming investors generally will be made within
three Business Days. Due to the schedule of holidays in certain
countries, however, the delivery of in-kind redemption proceeds may
take longer than three Business days after the day on which the
redemption request is received in proper form. In such cases, the
local market settlement procedures will not commence until the end
of the local holiday periods. See the Fund's SAI for a list of the
local holidays in the foreign countries relevant to the Funds. The
Funds shares do not represent a deposit or obligation of, and are
not guaranteed or endorsed by, any bank or other insured depository
institution, and are not federally insured by the Federal Deposit
Insurance Corporation, the Federal Reserve Board or any other
government agency. Investors should consider the investment
objectives and policies, risk considerations, charges and ongoing
expenses of the ETFs carefully before they invest. The prospectus
contains this and other information relevant to an investment in
the ETFs. Please read the prospectus carefully before you invest or
send money. For this and more information, please contact a
securities representative or Claymore Securities, Inc., 2455
Corporate West Drive, Lisle, Illinois 60532, 800-345-7999 or
www.claymore.com/etfs.
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