Claymore unveils ETF for luxury goods
By Aaron Siegel
August 6, 2007, 9:04 AM EST
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NEW YORK — Claymore Securities Inc. has launched an exchange traded fund that invests in luxury-goods-and-services companies.
The Claymore/Robb Report Global Luxury Index ETF (ROB), which began trading on the New York Stock Exchange last week, seeks investment results that correspond with the Robb Report Global Luxury Index.
It comprises 20 to 100 equity securities traded on market exchanges in developed countries, as well as American depositary receipts and global depositary receipts of global luxury-goods-and-services companies.
“The underlying demand for luxury goods and services has been growing due to the growth of the ultrahigh-net-worth-consumer base,” said Christian Magoon, senior managing director at Claymore of Lisle, Ill. “There was not really a luxury packaged product in the [United States] to act as that.”
The companies listed on the index are retailers, manufacturers, travel-and-leisure firms, investment and other professional-
services firms.
Some of the companies included in the index are Bayerische Motoren Werke AG, Credit Suisse Group and UBS AG.
CurtCo Robb Media LLC, the Malibu, Calif.-based publisher of Robb Report magazine, determines the companies that are defined as “luxury” organizations.
The index is weighted using a modified market-cap-weighting methodology and is re-balanced annually.
The fund carries an expense ratio of 0.7%.
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