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Claymore launches high yield bond ETF


Claymore Investments, a provider of exchange-traded funds in Canada, has launched the Claymore Advantaged High Yield Bond ETF.

The ETF has been designed to provide investors with exposure to the return and performance of a broad liquid high yield corporate bond index, the Barclays Capital US High Yield Very Liquid Index, net of fees and expenses.

The index includes publicly issued US dollar denominated, non-investment grade, fixed rate, taxable corporate bonds, which have a remaining maturity of at least one year and have USD600m or more of outstanding face value.

The fund will obtain exposure to the index constituents through the use of a forward agreement with TD Global Finance, a member of TD Bank Financial Group.

Som Seif (pictured), president and chief executive of Claymore, says: "High yield bonds are a very important part of an investment portfolio for their income and diversification benefits and CHB is a simple, low cost way to obtain hedged exposure to high yield bonds on a tax-efficient basis, making it an optimal investment for income-focused investors."

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