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The merger will provide unitholders of ADJ the opportunity to invest in a fund that will have a larger market capitalization, increased liquidity and a lower management expense ratio. CYH is an ETF which provides its unitholders with exposure to the performance of the Zacks Global Multi-Asset Income Index, a proprietary index designed to identify companies with potentially high income and superior risk-return profiles while maintaining industry diversification. As with ADJ, distributions made by CYH are expected to consist primarily of capital gains and returns of capital and are intended to be tax efficient when compared to units of a trust that depends solely on interest, dividend and/or other investment income to pay distributions.
As part of the implementation of the merger, all of ADJ's net assets will be transferred to CYH in consideration for Advisor Class Units of CYH based on an exchange ratio (the "Exchange Ratio") to be determined by reference to the relative net asset values of the units of ADJ and CYH. Immediately following the transfer of ADJ's assets to CYH and the issuance of CYH Advisor Class Units to ADJ, all remaining Units of ADJ will be automatically redeemed and each unitholder of ADJ will receive CYH Advisor Class Units equal to the number of units of ADJ multiplied by the Exchange Ratio.
Unitholders also approved an extension to the scheduled annual redemption period of ADJ from June 1 to June 30, 2009 in order to allow ADJ unitholders who do not wish to participate in the merger an opportunity to redeem for cash.
About Claymore Investments, Inc.
Claymore Investments, Inc. is a leader in bringing intelligent, low cost exchange traded funds in Canada through its family of 23 ETFs across broad asset classes including core equity, global sectors, fixed income and commodities. Claymore Investments, Inc. is a wholly-owned subsidiary of Claymore Group, Inc., a financial services and asset management company based in the Chicago, Illinois area. Claymore Group entities provide supervision, management, servicing or distribution on approximately US$11 billion in assets as of April 30, 2009.
For further information about the Funds or Claymore Investments, Inc., please contact your financial advisor or visit our website at www.claymoreinvestments.ca.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Funds' publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
SOURCE: Claymore Investments, Inc.
For media inquiries, please contact: Sara Beazely, (416) 813-2007, sbeazely@claymoreinvestments.ca; or Som Seif, President, Claymore Investments, Inc., (866) 417-4640, info@claymoreinvestments.ca, www.claymoreinvestments.ca, nfo@claymoreinvestments.ca
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