NEW YORK, May 14, 2013 (GLOBE NEWSWIRE) -- Guggenheim Investments, the investment management division of Guggenheim Partners, today announced that it will liquidate the Guggenheim Yuan Bond ETF (RMB) 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 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 RMB, which represented just over .01 percent of the $14 billion in the firm's total ETF assets under management, is Friday, June 14, 2013. The liquidating distribution is expected to be paid to investors on or about Friday, June 21, 2013.
Providing access to China, via exchange traded funds, remains a focus for Guggenheim. The firm currently offers investors four China-based equity ETFs with $390 million in combined assets (as of the week ending 5.10.2013), including:
|Guggenheim China All-Cap ETF2||YAO|
|Guggenheim China Real Estate ETF2||TAO|
|Guggenheim China Small Cap ETF2||HAO|
|Guggenheim China Technology ETF2||CQQQ|
In addition, the Fund will suspend its regular May monthly dividend distribution in anticipation of its liquidating distribution on or about June 21, 2013. The Fund believes that suspending its May distribution 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.
About Guggenheim Investments
Guggenheim Investments represents the investment management division of Guggenheim Partners, LLC ("Guggenheim"), which consists of investment managers with approximately $150 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.
1Sources: BlackRock as of 4.30.2013
2Shares of the funds are distributed by Guggenheim Funds Distributors, LLC.
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 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. Tracking error risk refers to the risk that the advisor may not be able to cause the ETF's performance to match or correlate to that of the ETF's underlying index, either on a daily or aggregate basis. Tracking error risk may cause the ETF's performance to be less than you expect.
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("GP"), 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 GP, SI and GFIA.
* The total asset figure is as of 3.31.2013 and includes $10.71B of leverage for assets under management and $0.85B 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.
CONTACT: For press inquiries please contact: Jeaneen Pisarra Guggenheim Partners 917.386.0387 Jeaneen.firstname.lastname@example.org For ETF inquiries please contact: Kevin Farragher Guggenheim Investments 301.296.5495 email@example.comSource: Guggenheim Investments