MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, January 11, 2012 BlackRock Buys Claymore Canada Wednesday BlackRock pulled the trigger on a deal that promises to deepen its presence in Canada. The New York-based asset manager is purchasing Claymore Canada from Guggenheim Partners and Claymore Investments. Terms of the deal were not disclosed. As of end-2011, BlackRock offered 48 ETFs in Canada under the iShares brand, representing C$29.0 billion in AUM and Claymore Canada offered 34 ETFs and two closed-end funds representing C$7.0 billion in AUM. The Canadian funds market totaled C$832.6(i) billion at June 30, 2011. Claymore is an independent Canadian subsidiary of Guggenheim Funds Services Group, a subsidiary of Guggenheim Partners, LLC. "This transaction brings together two innovative investment fund providers and creates an unparalleled opportunity to serve our Canadian clients," said Bill Chinery, head of BlackRock Canada. "Claymore Canada brings a complementary set of ETFs to the world-class iShares® range of products and enhances our ability to compete against other investment fund providers in Canada." Som Seif, president and CEO of Claymore, said that "advisors and investors have embraced Claymore Canada products as valuable components of their investment portfolios. BlackRock's global breadth and scale provide an excellent platform for Claymore Canada to begin its next, exciting chapter. With best-in-class risk management and operational resources, powerful distribution potential and a shared commitment to putting clients first, the combined business will offer strong opportunities for future growth." Printed from: MFWire.com/story.asp?s=38824 Copyright 2012, InvestmentWires, Inc. All Rights Reserved |