Claymore Investments Selects CIBC Mellon to Service More Than $6 Billion in Assets for 30 Canadian-listed ETFs
Appointment Allows Claymore to Benefit from CIBC Mellon’s Expanded ETF Solution
Toronto, June 1, 2011 – CIBC Mellon Global Securities Services Company and Claymore Investments (“Claymore”) are pleased to announce the appointment of CIBC Mellon by Claymore to deliver global custody, fund valuation and a suite of recently-expanded exchange traded fund (ETF) servicing capabilities.
“CIBC Mellon’s experience providing ETF solutions played a large role in our decision to appoint them as the service provider of all of our existing and future exchange traded products,” said Som Seif, president and CEO, Claymore. “Working with CIBC Mellon provides both Claymore and our investors the opportunity of working with a global leader in custody, fund valuation and value-added investment services.”
"The ETF industry is rapidly increasing in complexity, scale and popularity across Canada, requiring tailored solutions to help fund managers meet their strategic objectives and benchmarks," said Tom Monahan, president and chief executive officer, CIBC Mellon. "CIBC Mellon’s appointment by Claymore – the second largest ETF provider in Canada and one of the fastest growing Canadian asset management companies over the last five years – clearly demonstrates the quality and reliability of our ETF services. We look forward to continuing to lead the Canadian market in delivering innovative products and solutions for investment fund providers and to working closely with Claymore to support its marked growth and success."
By leveraging the award-winning capabilities of its parent company, BNY Mellon – the global leader in investment servicing – CIBC Mellon has enhanced its ETF solution to include indicative NAV production, automated basket creation and redemption features, and a designated broker interface offering flexible, end-to-end automation of the order process. This full-service solution delivers expert support and flexibility to meet the operational needs of the spectrum of ETF industry participants.
Claymore Investments, Inc. is a Canadian leader in bringing intelligent, low cost exchange traded funds in Canada through its family of 30 ETFs and 2 closed-end funds across broad asset classes including core equity, global sectors, fixed income and commodities with over $6.3 billion in assets under management as of April 30, 2011. Claymore Investments, Inc. 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 an indirect subsidiary of Guggenheim Partners, LLC, (“Guggenheim”) a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.
CIBC Mellon recently ranked No.1 in Canadian sub-custody in Global Custodian’s Agent Banks in Major Markets Survey. CIBC Mellon also placed No.1 in four categories in Global Investor / isf magazine’s 2010 Equity Lending Survey, including No.1 in relationship management. CIBC Mellon was named the best sub-custodian in Canada for the fourth consecutive year in the 2010 Global Finance Magazine’s World’s Best Sub-Custodians Survey. CIBC Mellon was also rated as Canada’s No.1 provider of global custody services in the 2010 R&M Consultants Global Custody Survey.
CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and BNY Mellon. CIBC Mellon is a leading provider of financial services for institutions and corporations, providing superior asset and investment servicing, multicurrency accounting, information delivery, unitholder recordkeeping and securities lending services in Canada. CIBC Mellon is part of BNY Mellon, which has US$25.5 trillion in assets under custody and administration and more than $1.2 trillion in assets under management.
Contact: David Bauer, corporate affairs, CIBC Mellon 416-643-5142