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Friday, February 01, 2008|
Claymore to Cut 11 ETFs from its Lineup
Claymore Securities plans to liquidate 11 of its 36 ETF portfolios. The funds it intends to take off the market are "lightly followed" ETFs that represent less than two percent of the company's US ETF assets, executives at the Lisle, Illinois-based firm said.
"There is a natural selection process when it comes to investment options and we will continue to offer products where there’s the potential for marketplace appeal," said Christian Magoon, senior managing director and head of the ETF Group.
Morgan Stanley analyst Paul Mazzilli told The MFWire that although the liquidation itself is not a surprise, the speed with which it is being done is.
"I think some of the smaller ETF players out there were throwing everything they had into the market hoping something would stick or that they would eventually be bought out," Mazzilli said.
The ETFs that will no longer be available as of February 19 are the:
Claymore executives said that they plan to launch several new ETFs in 2008.
Printed from: MFWire.com/story.asp?s=17301
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