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Claymore Solar ETF offers access to solar power industry

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Claymore Securities, the third-fastest growing exchange-traded fund provider in the US last year, has launched the Claymore/MAC Global Solar Energy Index ETF on NYSE Arca, offering investo

Claymore Securities, the third-fastest growing exchange-traded fund provider in the US last year, has launched the Claymore/MAC Global Solar Energy Index ETF on NYSE Arca, offering investors a cost-efficient means of accessing the fast-growing solar power industry.

‘The availability of this product acknowledges the maturing of the solar energy industry and investor interest in funding solar power development,’ says Claymore president Christian Magoon. ‘[The fund] gives investors access to a global portfolio of 25 leading solar companies with a combined market capitalization of close to USD100bn.’

The ETF seeks to replicate the MAC Global Solar Energy Index developed and maintained by MAC Indexing, an affiliate of Chicago-based institutional research and brokerage firm Melvin & Company.

‘Many accept that alternative energy is the way of the future,’ says the firm’s chairman and chief executive Christopher C. Melvin. ‘Solar power offers one of the few current mass-scale solutions to meet the world’s enormous demand for clean and renewable power.

‘The conversion from sunlight to solar energy produces no pollution or greenhouse gas emissions. Today’s leading companies are developing more affordable and efficient technologies that will continue to fuel growth in the area for years to come.’

Claymore Securities is a privately-owned financial services group that provided supervision, management, servicing or distribution on some USD18.5bn in assets at the end of last year in exchange-traded funds, unit investment trusts and closed-ended funds.

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