TORONTO, June 5 /CNW/ - Claymore Investments, Inc. ("Claymore"), the
manager of the Adjustable Rate MBS Trust (TSX: ADJ) ("ADJ") and Claymore
Global Monthly Advantaged Dividend ETF (TSX: CYH, CYH.A) ("CYH", and together
with ADJ, the "Funds") announced today that unitholders of ADJ have approved a
proposal to merge ADJ with CYH on or about July 2, 2009.
The merger will provide unitholders of ADJ the opportunity to invest in a
fund that will have a larger market capitalization, increased liquidity and a
lower management expense ratio. CYH is an ETF which provides its unitholders
with exposure to the performance of the Zacks Global Multi-Asset Income Index,
a proprietary index designed to identify companies with potentially high
income and superior risk-return profiles while maintaining industry
diversification. As with ADJ, distributions made by CYH are expected to
consist primarily of capital gains and returns of capital and are intended to
be tax efficient when compared to units of a trust that depends solely on
interest, dividend and/or other investment income to pay distributions.
As part of the implementation of the merger, all of ADJ's net assets will
be transferred to CYH in consideration for Advisor Class Units of CYH based on
an exchange ratio (the "Exchange Ratio") to be determined by reference to the
relative net asset values of the units of ADJ and CYH. Immediately following
the transfer of ADJ's assets to CYH and the issuance of CYH Advisor Class
Units to ADJ, all remaining Units of ADJ will be automatically redeemed and
each unitholder of ADJ will receive CYH Advisor Class Units equal to the
number of units of ADJ multiplied by the Exchange Ratio.
Unitholders also approved an extension to the scheduled annual redemption
period of ADJ from June 1 to June 30, 2009 in order to allow ADJ unitholders
who do not wish to participate in the merger an opportunity to redeem for
About Claymore Investments, Inc.
Claymore Investments, Inc. is a leader in bringing intelligent, low cost
exchange traded funds in Canada through its family of 23 ETFs across broad
asset classes including core equity, global sectors, fixed income and
commodities. Claymore Investments, Inc. is a wholly-owned subsidiary of
Claymore Group, Inc., a financial services and asset management company based
in the Chicago, Illinois area. Claymore Group entities provide supervision,
management, servicing or distribution on approximately US$11 billion in assets
as of April 30, 2009.
For further information about the Funds or Claymore Investments, Inc.,
please contact your financial advisor or visit our website at
Commissions, trailing commissions, management fees and expenses all may
be associated with investment funds. Please read the Funds' publicly filed
documents which are available from SEDAR at www.sedar.com. Investment funds
are not guaranteed, their values change frequently and past performance may
not be repeated.
For further information:
For further information: For media inquiries, please contact: Sara
Beazely, (416) 813-2007, email@example.com; or Som Seif,
President, Claymore Investments, Inc., (866) 417-4640,