NEW YORK, Oct. 25, 2013 (GLOBE NEWSWIRE) -- Guggenheim Investments, the investment management division of Guggenheim Partners, today announced that the Guggenheim BRIC ETF (NYSE Arca:EEB) will change its benchmark index to the BNY Mellon BRIC Select DR Index effective October 31, 2013.
"Transitioning to the BNY Mellon BRIC Select DR Index will provide more representative exposure to the BRIC super region," said William Belden, Managing Director at Guggenheim Investments. "We see this as an opportunity to track an index where the capitalization weights of the four countries – Brazil, Russia, India and China are more appropriately weighted."
The BNY Mellon BRIC Select DR Index is a modified version of the current BNY ADR BRIC Index. Modifications were made to provide broader exposure to certain countries that have traditionally been underweighted, specifically Russia and India, while also helping to alleviate an overweight to Brazil.
Using a low cost "passive" and "indexing" investment approach, EEB seeks to replicate, before fees and expenses, the performance of an equity index, investing at least 90 percent of its total assets in American depositary receipts (ADRs) and global depository receipts (GDRs).
The Guggenheim BRIC ETF previously tracked the BNY Mellon BRIC Select ADR Index. The fund's ticker, EEB, remains unchanged and no action is required by shareholders. In addition, the annual expense ratio will not change.
Overall, Guggenheim Investments total ETP assets under management are over $18 billion as of September 30, 2013, across 71 products—a 49% increase in assets year-to-date1. As of September 30, 2013, the firm ranked eighth in AUM among U.S. ETF providers2.
For more information, please visit http://www.guggenheiminvestments.com/etf or call 888.WHY.ETFs to speak to a representative.
About Guggenheim Investments
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, which consist of investment managers with approximately $164 billion in combined total assets.* Collectively, Guggenheim Investments has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. Guggenheim Investments offers clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York City and Santa Monica, along with a global network of offices throughout the United States, Europe, and Asia.
* The total asset figure is as of 9.30.2013 and includes $16.107B of leverage for Assets Under Management and $0.299B of leverage for Serviced Assets. Total assets include assets from Security Investors, LLC, Guggenheim Partners Investment Management, LLC, Guggenheim Funds and its affiliated entities, and some business units including Guggenheim Real Estate, LLC, Guggenheim Aviation, GS GAMMA Advisors, LLC, Guggenheim Partners Europe Limited, Transparent Value Advisors, LLC, and Guggenheim Partners India Management. Values from some funds are based upon prior periods.
Guggenheim Investments offers investors a broad range of ETPs—domestic and international equity, fixed-income and currency—to provide the core building blocks for portfolios, access to hard-to-reach market segments, as well as targeted investment choices.
ETFs may not be suitable for all investors. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Most investors will also incur customary brokerage commissions when buying or selling shares of an ETF. Investments in securities and derivatives, in general, are subject to market risks that may cause their prices to fluctuate over time. ETF Shares may trade below their net asset value ("NAV"). The NAV of shares will fluctuate with changes in the market value of an ETF's holdings. In addition, there can be no assurance that an active trading market for shares will develop or be maintained. Tracking error risk refers to the risk that the Advisor may not be able to cause the ETF's performance to match or correlate to that of the ETF's Underlying Index, either on a daily or aggregate basis. Tracking error risk may cause the ETF's performance to be less than you expect.
Read an ETF's prospectus and summary prospectus (if available) carefully before investing. It contains the ETF's investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a prospectus and summary prospectus (if available) for ETFs and other funds distributed by Guggenheim Funds Distributors, LLC at guggenheiminvestments.com or call 800.345.7999.
Guggenheim Investments represents the investment management businesses of Guggenheim Partners, ("GP"), which includes Security Investors, LLC ("SI") and Guggenheim Funds Investment Advisors, LLC ("GFIA"), the investment advisors to the Rydex and Guggenheim ETFs, respectively. Guggenheim Funds Distributors, LLC and Guggenheim Distributors, LLC are affiliated with GP, GFIA and SI.
1 As of September 30, 2013, assets were $18,189,000,000.
2 SOURCE: BlackRock 9.30.2013