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New Claymore ETF Offers Easy Access to Global Luxury Market
The new ETF tracks an index that is designed to capture the opportunity created by companies whose primary business is the provision of global luxury goods and services, according to a Claymore press release.
The 2007 World Wealth Report issued recently by Merrill Lynch and Capgemini revealed that as high net worth individuals develop an increasingly more global outlook with diversified interests, “investments of passion’ have become an important portfolio allocation (See Wealthy Investors Include Investments of Passion in Portfolios).
The Claymore/Robb Report Global Luxury Index ETF seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of an equity index called the Robb Report Global Luxury Index, the announcement said. The Index is comprised of no fewer than 20 and up to 100 equity securities traded on major global developed market exchanges, as well as American depositary receipts (ADRs) and global depositary receipts (GDRs) of companies whose primary business is the provision of global luxury goods and services.
The companies may include retailers, manufacturers (which may include automobiles, boats, aircraft, and consumer electronics), travel and leisure firms, and investment and other professional services firms. The designation of such firms as “luxury’ is determined by the publisher of the Robb Report magazine, CurtCo Robb Media, LLC. The index constituents are weighted using a modified market cap weighting methodology, and the index is rebalanced annually.
“[W]ith the introduction of the Claymore/Robb Report Global Luxury Index ETF, investors can now access the global luxury market in an efficient and transparent ETF,’ said Christian Magoon, Senior Managing Director and head of the ETF Group for Claymore Securities, Inc., in the release.
For more information, call 630-463-4000 or visit www.claymore.com/etfs.
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