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Guggenheim To Buy Claymore
By Journal of Indexes Staff


Privately held institutional money manager Guggenheim Partners has entered into a definitive agreement to acquire Lisle, Ill.-based ETF provider Claymore Securities, Inc.

The acquisition covers all aspects of Claymore’s operations, including Claymore Investments in Canada, and Claymore Advisors and Claymore Securities in the U.S. Terms of the deal were not disclosed.

Claymore was the 13th-largest U.S. ETF provider as of June 30, according to the National Stock Exchange. It currently offers 35 ETFs with more than $1.6 billion in assets under management in the U.S. In Canada, Claymore has over $2 billion in ETF assets under management. The firm also offers closed-end funds and unit investment trusts, and had $12.9 billion in total assets under its supervision at the end of the first quarter.

Claymore President Christian Magoon said the deal should give it access to more resources and the power of a globally recognized brand, in addition to the ability to launch more products and possibly acquire other ETF or mutual fund providers. For Guggenheim, the Claymore acquisition should allow the institutionally focused firm to extend its reach into a retail audience.

The Claymore deal is subject to regulatory approvals and is not expected to close until later this year.
 

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