Claymore Preferred ETF Changes Name, to Commence Trading 4/10

Well, when it was announced it was the “Claymore S&P CDN Preferred Share ETF”. Now, however, Claymore has announced that:

The Claymore S&P/TSX CDN Preferred Share ETF is comprised of preferred share issues listed on the Toronto Stock Exchange that meet criteria relating to market capitalization, liquidity, and issuer rating.
    “We are very pleased to be able to launch this new ETF based on the S&P/TSX Preferred Share Index, which will be the first ETF based on the Canadian Preferred share market…”

I thought something might be up when the TSX announced a new index!

It should prove to be a lucrative market for Claymore and some advisors … Claymore gets a management fee of 45bp and advisor-class units will charge another 50bp on top of that. To be sure, Claymore will be paying fund expenses out of their take – but, as I read the prospectus anyway, Claymore will receive extra compensation to cover these expenses, up to a limit of the amount of securities lending revenue earned by the fund.

The ticker for the fund is CPD.

There is, as yet, no further information regarding this ETF on the Claymore website.

One Response to “Claymore Preferred ETF Changes Name, to Commence Trading 4/10”

  1. […] The Claymore Preferred ETF started trading on the TSX today, and the TSX advises us that 300,000 shares of the “Common Class” (CPD) are outstanding, as are 200,000 of the “Advisor Class” (CPD.A). So, assets of about $10-million. It’s a fair start, and it’s a bigger fund than Malachite Aggressive Preferred! […]

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