Claymore Securities Inc. has launched the Claymore/AlphaShares China Small Cap Index exchange traded fund on the American Stock Exchange.
The fund, which trades under the ticker symbol "HAO," seeks investment results that correspond to the performance of the AlphaShares China Small Cap Index.
The index, which measures the performance of publicly-traded mainland and small capitalization companies in China, is maintained by Standard & Poor's and is published on the AlphaShares
website.
The fund is the first ETF focused on small-cap Chinese companies, and is Claymore's second China-focused ETF, according to Claymore.
The fund will normally invest at least 90% of its total assets in common stock, American depositary receipts ("ADRs"), American depositary shares ("ADSs"), global depositary receipts ("GDRs") and international depositary receipts ("IDRs") that comprise the index.
The fund carries an expense ratio of 0.70%.
Lisle, Ill.-based Claymore Securities supervised, managed, serviced or distributed approximately $18.5 billion in assets as of Dec. 31.
PowerShares Capital Management LLC of Wheaton, Ill., a subsidiary of Amvescap PLC of London, launch the PowerShares Preferred Portfolio exchange traded fund tomorrow on the American Stock Exchange.
The ETF is based on the Merrill Lynch Fixed Rate Preferred Securities Index, which is designed to replicate the total return of a diversified group of investment-grade preferred securities.
Owners of preferred securities have a right to receive a stated dividend that takes precedence over the dividend rights of common stockholders, a PowerShares statement said.
Because of this, preferred dividends are often more predictable and reliable than common dividends, it said.
