Claymore launches upscale ETF

Claymore Securities Inc. has launched an exchange traded fund designed to profit off of companies in the luxury goods-and-services market. The Claymore/Robb Report Global Luxury Index ETF (ROB), seeks investment results that correspond with the Robb Report Global Luxury Index That index is made up of between 20 and 100 equity securities traded on major global developed market exchanges, American depositary receipts and Global depositary receipts of companies whose primary business is the provision of global luxury goods and services. The companies listed in the index include retailers, manufacturers, travel and leisure firms, and investment and other professional services firms. "Luxury" organizations will be defined by Malibu, Calif.-based CurtCo Robb Media LLC, the publisher of Robb Report magazine. The index is weighted using a modified market cap weighting methodology and is rebalanced on an annual basis. The fund carries an expense ratio of 0.70%. Claymore Securities had over $17 billion in assets as of June 30.