Water index ETF debuts on AMEX

The American Stock Exchange today launched trading in the Claymore S&P Global Water Index ETF, the first exchange traded fund to cover the global water industry. This new product seizes the opportunity to invest in the world’s need for clean water, investing in global water-related businesses. “Water has been proclaimed by many analysts to be the next great commodity product in the world,” said David Cohen, managing director of Claymore Securities. “When you consider that 20% of the world’s population doesn’t have water, there’s a global opportunity to be involved.” Rather than focusing on water products in the U.S., the fund features 16 countries. “We’re about the infrastructure and the means of bringing water to places that don’t have any,” said Mr. Cohen. The S&P Global Water Index is made up of 50 equity securities that include a variety of companies related to the global water industry, ranging from utilities and infrastructure to equipment and materials. Market capitalizations for these companies ranges from $250 million to $25 billion, and at least 90% of the fund’s assets will go toward common stocks and American deposit receipts.