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Claymore Investments launches global mining ETF

Toronto-based Claymore Investments has launched the Claymore S&P/TSX Global Mining ETF on the Toronto Stock Exchange, barely a week after it unveiled the Claymore S&P Global Water

Toronto-based Claymore Investments has launched the Claymore S&P/TSX Global Mining ETF on the Toronto Stock Exchange, barely a week after it unveiled the Claymore S&P Global Water ETF.

The Global Mining ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the S&P/TSX Global Mining Index, an equity index currently comprised of 107 stocks selected based on the relative importance of the global mining industry within their business mode. To ensure investibility, a developed market listing and a minimum market capitalisation of USD300m is required.

The index, which is rebalanced annually, has a balanced representation from different segments of the mining industry consisting of five sub-industries including aluminium, diversified metals and mining, gold, precious metals and minerals, and coal and consumable fuels.

‘We believe this ETF fills a void in the market for a pure play ETF on the Global Mining industry,’ says Claymore Investments Canada president Som Seif. ‘Investors now have a product that invests in securities of mining companies that may have exposure to nickel, copper, gold and other core metals, but also covers consumable fuels such as uranium, which currently is an orphaned sub-sector and not covered by other indexes.’

The Claymore S&P Global Water ETF is comprised of a group of companies with market capitalisation ranging from USD250m to USD25bn, distributed equally between two distinct clusters of water-related businesses, water utilities and infrastructure, and water equipment and materials.

‘This ETF seeks to provide exposure to the global water industry,’ Seif says. ‘We believe nothing is more essential than water and the need for more reliable sources is very strong. The increasingly tighter supply of clean, fresh water is driving greater infrastructure spending in the sector and may create good opportunities for long-term investors.’

The fund seeks investment results that correspond generally to the performance of the S&P Global Water Index, which comprises 50 equities selected from a universe of companies listed on developed market exchanges worldwide and based on the relative importance of the global water industry within the companies’ business models.

The index, which is also rebalance annually, consists of 25 water utilities and infrastructure companies (water supply, water utilities, waste water treatment, water, sewer and pipeline construction, water purification, water well drilling and water testing) and 25 water equipment and materials companies (water treatment chemicals, water treatment appliances, pumps and pumping equipment, fluid power pumps and motors, plumbing equipment, totalising fluid meters and counting devices).

Like Claymore Investments’ other exchange-traded funds, the Global Mining ETF and Global Water ETF will offer two classes of units, common units and advisor class units.

Claymore Investments, which is responsible for the administration and management of the ETFs, is a wholly owned subsidiary of Claymore Group, a financial services and asset management company based near Chicago, while Claymore Advisors, an affiliate of Claymore Securities, serves as investment adviser to the funds.

At the end of April, Claymore provided supervision, management, servicing or distribution to some USD17bn in assets through closed-end funds, unit investment trusts, mutual funds, separately managed accounts and exchange-traded funds.

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