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Rating:Claymore Plans Email Routing List Email & Route  Print Print
Tuesday, May 15, 2007

Claymore Plans "Super" ETFs

Reported by Sean Hanna, Editor in Chief

Claymore Advisors is working on a trio of exchange-traded funds (ETFs) that will cover Morningstar "Super Indexes." The firm is also planning a fourth new ETF based on a Zacks index. Claymore, whose securities arm is based in Lisle, Illinois while its advisor business runs from Conshohocken, Pennsylvania, currently manages some $16 billion in assets, including 21 ETFs and a family of four mutual funds.

Christian Magoon, senior managing director, at Claymore, stated that the firm has also filed paperwork with the SEC [see filing] to register the funds.

Claymore launched two ETFs -- the Claymore/Robeco Developed International Equity ETF (AMEX: EEN) and the Claymore/Robeco Developed World Equity ETF (AMEX: EEW) -- on March 1.

The three Morningstar-derived ETFs include the Claymore/Morningstar Information Super Sector Index, the Claymore/Morningstar Services Super Sector Index and the the Claymore/Morningstar Manufacturing Super Sector Index.

The Zacks-derived ETF is the the Claymore/Zacks Dividend Capture Index.

Morningstar officials confirmed that the Chicago-based fund tracker and research firm licensed its Morningstar Super Sector Indexes to Claymore Advisors. This is the first time that Morningstar has licensed the indexes for ETF products, according to Morningstar officials. The indexes divide the U.S. equity universe into one of three broad super sectors: manufacturing, services, and information. The three super indexes umbrella over 12 sector indexes created by Morningstar.

"Our Super Sector structure represents a unique way to classify companies based on the broad economic spheres in which they operate," stated Sanjay Arya, director of Morningstar Indexes. "This intuitive organization of sectors reflects the way economies evolve from dependence on the production of physical products to the delivery of services, which culminates in the exchange of information."

"Investors recognize that sector diversification is important, but the sheer number of sectors makes it difficult for them to track and allocate their holdings evenly across industries," stated Magoon. "Our new ETFs based on the Morningstar Super Sector Indexes allow investors the opportunity to gain broader sector exposure or the potential to add balance to a concentrated portfolio."

CEO David Hooton founded Claymore in 2001. The firm is focused on advisor-sold asset management products. 

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