The Bank of New York Appointed by Claymore Securities as Services Provider for New Family of Exchange-Traded Funds
Bank's ADR Index used as benchmark for first BRIC ETFNEW YORK, October 25, 2006 -- The Bank of New York, a global leader in securities servicing, has been appointed by Claymore Securities, Inc. as service provider for five new exchange-traded funds (ETFs), including the Claymore/BNY BRIC ETF (EEB), which is based on the Bank's BRIC Select ADR Index and represents the U.S. market's first ETF that offers exposure to the BRIC emerging market countries of Brazil, Russia, India and China.
In addition to the Claymore/BNY BRIC ETF, the following Claymore ETFs have been launched on the American Stock Exchange: Claymore/Zacks Yield Hog ETF (CVY), Claymore/Zacks Sector Rotation ETF (XRO), Claymore/Sabrient Insider ETF (NFO), and Claymore/Sabrient Stealth (STH).
David C. Hooten, chairman and chief executive officer of Claymore, said, "The Bank of New York was the natural choice for our new ETFs, based both upon the tenure of our mutually beneficial partnership and the Bank's acknowledged position as a leader in ETF services and the ADR index arena."
Joseph Keenan, managing director and head of Global Investor Services Americas Sales at The Bank of New York, said, "This mandate expands our already strong relationship with Claymore and underscores our ability to deliver innovative service solutions. In addition, it demonstrates the Bank's commitment to the ETF industry and our ability to dedicate resources from across our enterprise to meet clients' unique needs."
Christopher Sturdy, executive vice president and head of The Bank of New York's Depositary Receipt Division, said, "We launched our BRIC Select ADR Index this year to provide investors with exposure to carefully chosen ADRs in sought-after emerging market countries. We are delighted that Claymore has chosen to build an ETF around the index, expanding the market's access to ADRs from these high-potential regions."
The Bank of New York BRIC Select ADR Index comprises a select group of American depositary receipts (ADRs) from Brazil, Russia, India and China. It is a subset of The Bank of New York ADR IndexSM, which is the only index to track all depositary receipts, New York shares and global registered shares that trade on the New York Stock Exchange, American Stock Exchange and NASDAQ. The indices are calculated on a continuous basis throughout the trading day.
The Bank of New York's Global Investor Services Group delivers a comprehensive and flexible range of services to a wide variety of fund and commingled structures around the world, including mutual funds, exchange-traded funds, hedge funds and unit investment trusts. Teams of dedicated experts are located worldwide, including Bermuda, Brussels, Cayman, Dublin, Singapore, Jersey/Guernsey/Isle of Man, London, Luxembourg, Florida and New York.
The Bank of New York is depositary for more than 1,250 American and global depositary receipt programs, a 64% market share, acting in partnership with leading companies from 61 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Bank delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
Claymore Securities, Inc. is a privately held financial services company offering unique investment solutions for financial advisors and their clients. Claymore entities have provided supervision, management, servicing or distribution on over $14 billion in assets through closed-end funds, unit investment trusts, mutual funds, separately managed accounts and exchange-traded funds.
Investors should carefully consider the investment objective and policies, risk considerations, charges and ongoing expenses of the Funds before investing. The prospectus contains this and other information relevant to an investment in the Fund. Please read the prospectus carefully before you invest or send money. For a full prospectus and statement of additional information, please contact your securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, IL 60532, 800-345-7999, or visit www.claymore.com.
The Funds' shares will trade at market prices that may differ from the net asset value ("NAV") of the shares. Unlike conventional mutual funds, the Funds issue and redeem shares on a continuous basis, at NAV, only in large specified blocks of 50,000 shares, each of which is called a "Creation Unit." Creation Units are issued and redeemed principally in-kind for securities included in a specified index. Except when aggregated in Creation Units, shares are not redeemable securities of the Funds.
Investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume and other market conditions. At times, shares may not have a high volume of trading.
The information contained herein has been prepared solely for informational purposes and is neither an offer to sell nor the solicitation of an offer to buy any security or instrument.
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