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Claymore to close four ETFs


Exchange-traded fund provider Claymore intends to close and liquidate four lightly followed ETFs.

The combined assets of these ETFs represent less than 0.70 per cent of its total ETF assets.

“We have taken a reflective review of our current product lineup and after careful evaluation, we feel that these changes are in the best interest of shareholders,” says Christian Magoon, president of Claymore Securities. “We will continue to assess the needs of investors and launch products where the potential for marketplace appeal exists.”

The last day of trading for Claymore/Morningstar Manufacturing Super Sector Index ETF, Claymore/Morningstar Information Super Sector Index ETF, Claymore/Morningstar Services Super Sector Index ETF, and Claymore US-1 – The Capital Markets Index ETF on the NYSE Arca will be 11 December 2009. Effective that day, the funds will be closed to new investments through creation activity. The NYSE Arca will halt trading in the funds before the open of trading on 14 December 2009.

Shareholders may sell their fund shares prior to 14 December 2009. It is anticipated that transactions executed prior to 14 December will be subject to the fees normally assessed by broker-dealers for such transactions.

From 14 December through 18 December, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the funds.

All shareholders remaining on 18 December 2009 will receive a cash distribution into their brokerage account representing the value of their shares as of that date, which will also include any capital gains and dividends.

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