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Friday, July 31, 2009

An ETF Provider Changes Hands

Reported by Meredith Mazzilli

Claymore Group, the parent company of Claymore Investments, revealed Friday that it has entered into an agreement to merge with diversified services firm Guggenheim Partners. All of Claymore's associated entities will become subsidiaries of Guggenheim through the deal, and Claymore Investment's roughly $2.4 billion in assets will join Guggenheim's roughly $100 billion in assets under supervision.

"This is a tremendous opportunity for Claymore and our clients," Claymore CEO David Hooten noted. "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." 

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