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Claymore Investments launches yield-oriented ETF in Toronto

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Exchange-traded fund provider Claymore Investments has launched a new fund on the Toronto Stock Exchange, the Claymore Global Monthly Yield Hog ETF, which seeks to identify securities that

Exchange-traded fund provider Claymore Investments has launched a new fund on the Toronto Stock Exchange, the Claymore Global Monthly Yield Hog ETF, which seeks to identify securities that will deliver high levels of tax-efficient income without running undue levels of risk.

The Global Monthly Yield Hog ETF aims to provide investment results that correspond to the performance of the Zacks Global Yield Hog Index. Through a forward agreement with the National Bank of Canada, the fund will receive exposure to the securities that comprise the index.

Zacks uses a proprietary methodology designed to identify securities with potentially high income and superior risk/return profiles while maintaining industry diversification, such as dividend-paying equities, real estate investment trusts, master limited partnerships, income trusts and US preferred stock.

‘The ‘Hog’ will be the first ETF in Canada to focus on global dividend and income paying securities,’ says Som Seif, president and chief executive of Claymore Investments. ‘It combines the benefits of global investing with yield-oriented investing.

‘Prior to this ETF, it was very difficult for Canadians to get access to global yielding securities on a tax-efficient basis, which was a major benefit of using the forward agreement structure.’

Like Claymore Investments’ other current ETFs listed on the Toronto exchange, the Global Monthly Yield Hog ETF offers two classes of investment units, the common unit and advisor class unit.

Claymore Investments, which is responsible for the administration and management of the ETF, is a wholly owned subsidiary of the Claymore Group, a financial services and asset management company based in the Chicago region.

At the end of last year, the group provided supervision, management, servicing or distribution on some USD18.5bn in assets through ETFs, closed-end funds, unit investment trusts, mutual funds and separately managed accounts.

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