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Claymore Files to Launch First Actively-Managed Commodity ETF

by Michael Johnston on May 13, 2009 | ETFs Mentioned: GVT

Claymore Advisors has filed a request with the SEC to introduce three new ETFs, each of which would be actively managed. Among the proposed funds is the Claymore Delta Global Hard Assets ETF, which would be the first actively-managed commodity ETF.

The filing with the SEC states that the Hard Assets ETF will invest in “securities that derive their revenues from the mining, processing and sale of hard commodities.” While this will likely include the usual suspects – gold, silver, platinum, copper, etc. – the fund will also invest in stocks of companies representing various commodities from three broad categories: industrials, material, and energy.

In addition to the Hard Assets ETF, Claymore filed to launch:

Claymore Delta Global Infrastructure ETF: This fund would invest in stocks its managers believe will benefit from infrastructure growth in emerging markets. Potential investments would include utilities, airports, roads, water infrastructure, and telecommunications.
Claymore Delta Global Agribusiness ETF: This ETF would invest in “securities that derive from the growing, selling, processing and/or trading of a broad spectrum of agricultural commodities, seeds and chemicals.” Commodities in this fund would include corn, soybeans, cotton, sugar, oil, etc. In addition, this fund would have the latitude to invest in certain biofuels companies.

Claymore appears to be encouraged by the initial success of the Grail American Beacon Large Cap Value ETF (GVT), which was the first actively-managed ETF launched earlier this month. While these new Claymore funds are unique in the fact that they are actively-managed, they are entering into relatively crowded ETF markets, with several agribusiness, commodity, and infrastructure funds already competing for investors’ funds. No expense ratios were disclosed in the filings.