It was a busy summer for Claymore Securities.
Besides introducing the Claymore/Zacks Country Rotation (CRO) and the Claymore/Zacks International Yield Hog Index (HGI) exchange-traded funds, the company also launched the Claymore/Robb Report Global Luxury Index fund (ROB).
“The emergence of luxury goods and services is an important and growing sector in the global economy,” says Bill Curtis, chief executive officer of CurtCo Robb Media, LLC, which owns Robb Report and a stable of other leading magazine brands catering to high-net-worth consumers. “Our index is the first global index of its kind and we see it as a natural brand extension, one that underscores Robb Report as the preeminent brand in the global luxury goods and services marketplace and a critical link between the companies that sell such products and the consumers who buy them.”
According to the World Wealth Report 2007 issued by CapGemini and Merrill Lynch, the number of millionaires in the world has doubled over the past 10 years. To better track this expanding demographic’s consumption, the underlying index for the Claymore/Robb Report Global Luxury ETF is comprised of no fewer than 20 and up to 100 equities traded on major global developed market exchanges, including American depositary receipts (ADRs) and global depositary receipts (GDRs). All are issued by companies whose primary business is the provision of global luxury goods and services.