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Claymore to license Morningstar Super Sector Indexes for new ETFs


Claymore Advisors has licensed the Morningstar Super Sector Indexes, which divide the US equity universe into three broad super sectors, manufacturing, services, and information, for the c

Claymore Advisors has licensed the Morningstar Super Sector Indexes, which divide the US equity universe into three broad super sectors, manufacturing, services, and information, for the creation of three exchange-traded funds, for which a registration statement was filed by Claymore with the Securities and Exchange Commission last week. The funds will be the first ETFs to track the Morningstar Super Sector Indexes.

‘Investors recognise 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,’ says Claymore senior managing director Christian 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.’

In 2002, Morningstar introduced a sector classification system offering a unified and consistent framework for mapping the equity universe. The Morningstar Sector Index family consists of 15 indices – three Super Sector Indexes and 12 Sector Indexes – that track 97 percent of the US equity market by market capitalisation. Companies are assigned to sectors based on their primary source of revenue.

‘Our Super Sector structure represents a unique way to classify companies based on the broad economic spheres in which they operate,’ says Sanjay Arya, director of Morningstar Indexes. ‘This intuitive organisation 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.’

Morningstar is a leading provider of independent investment research in the US and major international markets, with a range of internet, software and print-based products and services for individuals, financial advisors, and institutional clients. Morningstar provides data on more than 200,000 investment offerings, including stocks, mutual funds, and similar vehicles. The company has operations in 16 countries and minority ownership positions in companies in three other countries.

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