Claymore Securities has filed for an exchange-traded fund that will track companies connected to the solar power industry. The Claymore/Mac Global Solar Energy Index ETF will be the firm’s fourth sector ETF and the first Claymore ETF linked to an index from MAC Indexing.
Claymore will today close 11 of its ETFs, including the two with similar socially responsible themes, the Claymore/LGA Green ETF and the Claymore/KLD Sudan Free Large-Cap Core ETF. The firm said it was closing the funds due to low assets and a duty to shareholders.
The filing for the solar ETF comes as traditional mutual funds jump into eco-friendly areas. Allianz Global Investors released a study to promote its RCM Global EcoTrends Fund and DWS Scudder was heavily promoting its new Climate Change Fund (FA, 2/4).
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