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Press release from CNW Group


Tuesday, March 08, 2011

CLAYMORE SILVER BULLION TRUST NON-HEDGED UNITS FULLY INVESTED17:18 EST Tuesday, March 08, 2011TORONTO, March 8 /CNW/ - Claymore Investments, Inc. ("Claymore") is pleased to announce that the Claymore Silver Bullion Trust (the "Fund") has substantially invested the net proceeds of its initial public offering (the "Offering") of its non-hedged units ("Non-Hedged Units") and has purchased 1.071 million ounces of silver at a weighted average price of U.S.$35.052 per ounce on a non-hedged basis. The Fund has retained a nominal amount of cash for further silver bullion purchases and working capital purposes. The net asset value ("NAV") of the Non-Hedged Units, as at the end of business on Monday, March 7, 2011, was $14.63, which value is based on the London Silver Fix price of U.S.$36.60 per ounce. The NAV of the Non-Hedged Units will be updated on a daily basis and is available on Claymore's website at Non-Hedged Units commenced trading on the Toronto Stock Exchange (the "TSX") on March 4, 2011 under the symbol "SVR.C".The Fund completed its initial public offering of U.S. dollar hedged units (the "Hedged Units") and warrants on July 15, 2009. The Hedged Units currently trade on the TSX under the symbol "SVR.UN".  Hedged Units were not offered under the short form prospectus.The Fund's investment objective is to replicate the performance of the price of silver bullion, less the Fund's expenses and fees. This strategy will provide investors with the ability to invest in silver bullion in a convenient, tradable and secure manner without the associated inconvenience and high transaction, handling, storage, insurance and other costs typical of direct silver bullion investment. Claymore will earn a management fee of 0.60% of the NAV of the Fund which includes all costs, operating expenses and custodian fees of the Fund, other than certain compliance fees, taxes and extraordinary expenses.The Fund will automatically convert into an exchange-traded fund if the Hedged Units trade at a pre-defined discount to NAV for 10 consecutive days.The Offering was made on a best efforts basis in each of the provinces and territories in Canada through a syndicate of investment dealers co-led by GMP Securities L.P., TD Securities Inc. and Canaccord Genuity Corp., and including BMO Capital Markets Inc., Scotia Capital Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Desjardins Securities Inc., Dundee Securities Ltd., Haywood Securities Inc., Mackie Research Capital Corporation, Rothenberg Capital Management Inc. and Wellington West Capital Markets Inc.About Claymore Investments, Inc. Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange-traded funds ("ETFs") in Canada through its family of 30 ETFs and two closed-end funds across broad asset classes, including core equity, global sectors, fixed income and commodities and includes the Claymore Gold Bullion ETF (TSX: CGL). Claymore Investments, Inc., which, as at February 28, 2011, had approximately $6.0 billion in assets under management, is a wholly-owned subsidiary of Guggenheim Funds Services Group, Inc., a financial services and asset management company based in the Chicago, Illinois area and is an indirect subsidiary of Guggenheim Partners, LLC, ("Guggenheim") a global, diversified financial services firm with in excess of US$100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking and capital markets services.For more information investors should consult with their investment advisor or visit our website at further information: For media inquiries, please contact:Dan Rubin Vice President, Marketing, Claymore Investments, Inc. (416) 813-2018 Seif President & CEO, Claymore Investments, Inc. (866) 417-4640