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Claymore Investments launches Premium Money Market ETF in Toronto


Claymore Investments has launched the Claymore Premium Money Market exchange-traded fund, billed as the first money market ETF in North America, on the Toronto Stock Exchange.
Claymore Investments has launched the Claymore Premium Money Market exchange-traded fund, billed as the first money market ETF in North America, on the Toronto Stock Exchange.

The Premium Money Market ETF seeks to provide current income and liquidity consistent with short-term money market rates while preserving the value of investors’ initial investment.

The fund invests primarily in high-quality, short-term – generally 90 days or less – debt securities, including treasury bills and promissory notes issued or guaranteed by Canadian government bodies or their agencies, bankers acceptances and commercial paper (excluding asset-backed commercial paper) issued by Canadian chartered banks, loan companies, trust companies and corporations.

‘We are excited to be rounding out our broad family of exchange-traded funds with our latest money-market ETF,’ says Som Seif, president and chief executive of Claymore Investments. ‘This ETF will meet the needs of Canadian investors by bringing a low cost way to manage their cash positions.

‘Money-market interest rates today are low, and by offering a low expense ratio of only 0.25 per cent, which is dramatically lower than other money market funds in Canada, we are able to reduce the risk the portfolio needs to take to provide attractive interest rates on cash. We believe this is a great innovation for investors.’

The new fund joins a range of 20 Claymore ETFs traded on the Toronto exchange, comprising four RAFI fundamentals-weighted ETFs, six sector funds, four monthly income and growth funds, three fixed-income ETFs, two income and growth balanced ETF portfolios and a natural gas commodity ETF. Like most of Claymore’s other ETFs, the Premium Money Market ETF offers two classes of units, common units and advisor class units.

The Claymore Group, a financial services and asset management firm based in suburban Chicago, provided supervision, management, servicing or distribution on approximately USD18.5bn in assets through exchange-traded funds, closed-ended funds, unit investment trusts, mutual funds, and separately managed accounts at the end of last year.

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