NEW YORK, Feb. 11, 2014 (GLOBE NEWSWIRE) -- Guggenheim Investments, the investment management division of Guggenheim Partners, LLC, today announced that it will liquidate the Guggenheim Enhanced Core Bond ETF (GIY) in order to reinforce its commitment to focusing resources on products that have demonstrated the most demand in the marketplace. The firm currently ranks eighth in AUM among U.S. ETF providers1.
"Guggenheim remains committed to its leadership position in the ETF business and engages in a regular and thoughtful review of all of our products to ensure that we are meeting our clients' needs," said William Belden, managing director, product development for Guggenheim Investments. "ETF closures are a healthy part of the maturation of the industry, and enable providers to free up capital to develop new and innovative product offerings for investors."
The last day of trading on the NYSE Arca, Inc. ("NYSE Arca") for shares of GIY, which represents just over .02 percent of the $22 billion in the firm's total ETF assets under management, is Friday, March 7, 2014. Creations of fund shares will also be suspended on Friday, March 7, 2014.
In addition, the Fund will suspend its regular monthly dividend distribution scheduled to be paid on March 7, 2014 in anticipation of its liquidating distribution on or about March 14, 2014. The Fund believes this will allow the Fund to minimize its expenses in the period leading up to its liquidation, which should maximize the amount available to be distributed to shareholders in the liquidating distribution.
Providing access to unique fixed income investments, via exchange traded products, remains a focus for Guggenheim. The firm currently offers investors access to its Guggenheim BulletShares ETF line-up, consisting of 16 defined maturity corporate bond and high yield corporate bond ETFs with maturities spanning from 2014 to 2022. In addition, the company also offers the Guggenheim Enhanced Short Duration ETF (GSY), an actively managed fixed income ETF that seeks to outperform the Barclays Capital 1-3 Month U.S. Treasury Bill Index.
Guggenheim's full line-up of fixed income ETFs is as follows:
|BSCE||Guggenheim BulletShares 2014 Corporate Bond ETF2||BSJE||Guggenheim BulletShares 2014 High Yield Corporate Bond ETF2|
|BSCF||Guggenheim BulletShares 2015 Corporate Bond ETF2||BSJF||Guggenheim BulletShares 2015 High Yield Corporate Bond ETF2|
|BSCG||Guggenheim BulletShares 2016 Corporate Bond ETF2||BSJG||Guggenheim BulletShares 2016 High Yield Corporate Bond ETF2|
|BSCH||Guggenheim BulletShares 2017 Corporate Bond ETF2||BSJH||Guggenheim BulletShares 2017 High Yield Corporate Bond ETF2|
|BSCI||Guggenheim BulletShares 2018 Corporate Bond ETF2||BSJI||Guggenheim BulletShares 2018 High Yield Corporate Bond ETF2|
|BSCJ||Guggenheim BulletShares 2019 Corporate Bond ETF2||BSJJ||Guggenheim BulletShares 2019 High Yield Corporate Bond ETF2|
|BSCK||Guggenheim BulletShares 2020 Corporate Bond ETF2||BSJK||Guggenheim BulletShares 2020 High Yield Corporate Bond ETF2|
|BSCL||Guggenheim BulletShares 2021 Corporate Bond ETF2||GSY||Guggenheim Enhanced Short Duration Bond ETF2|
|BSCM||Guggenheim BulletShares 2022 Corporate Bond ETF2|
1Sources: BlackRock as of 12.31.2013
2Shares of the funds are distributed by Guggenheim Funds Distributors, LLC.
About Guggenheim Investments
Guggenheim Investments represents the investment management division of Guggenheim Partners, LLC ("Guggenheim"), which consists of investment managers with approximately $172 billion in combined total assets*. Collectively, Guggenheim Investments has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. Guggenheim Investments offers clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York City and Santa Monica, along with a global network of offices throughout the United States, Europe, and Asia.
*Guggenheim Investments total asset figure is as of 12.31.2013 and includes $12.497B of leverage for Assets Under Management and $0.390B of leverage for Serviced Assets. Total assets include assets from Security Investors, LLC, Guggenheim Partners Investment Management, LLC, Guggenheim Funds Investment Advisors, LLC and its affiliated entities, and some business units including Guggenheim Real Estate, LLC, Guggenheim Aviation, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, Transparent Value Advisors, LLC, and Guggenheim Partners India Management. Values from some funds are based upon prior periods.
Guggenheim Investments offers investors a broad range of ETPs—domestic and international equity, fixed-income and currency—to provide the core building blocks for portfolios, access to hard-to-reach market segments, as well as targeted investment choices.
Read an ETF's prospectus and summary prospectus (if available) carefully before investing. It contains the ETF's investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a prospectus and summary prospectus (if available) for the ETFs and other funds distributed by Guggenheim Distributors, LLC and Guggenheim Funds Distributors, LLC at guggenheiminvestments.com or call 888.WHY.ETFs.
ETFs may not be suitable for all investors. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Most investors will also incur customary brokerage commissions when buying or selling shares of an ETF. Investments in securities and derivatives, in general, are subject to market risks that may cause their prices to fluctuate over time. ETF Shares may trade below their net asset value ("NAV"). The NAV of shares will fluctuate with changes in the market value of an ETF's holdings. In addition, there can be no assurance that an active trading market for shares will develop or be maintained.
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("Guggenheim"), which includes Security Investors, LLC ("SI") and Guggenheim Funds Investment Advisors, LLC ("GFIA"), the investment advisers to the referenced funds. Guggenheim Distributors, LLC and Guggenheim Funds Distributors, LLC are affiliated with Guggenheim, SI and GFIA.
CONTACT: For press inquiries please contact: Jeaneen Pisarra Guggenheim Partners 212.518.5367 Jeaneen.firstname.lastname@example.org For ETF inquiries please contact: Kevin Farragher Guggenheim Investments 301.296.5495 email@example.comSource: Guggenheim Investments