Guggenheim to liquidate eight exchange-traded products in March

By Toni Weeks

San Diego, Feb. 22 - Guggenheim Investments announced in a press release that it will close and liquidate eight exchange-traded products in March to focus its resources on products that are more in demand.

March 23 will be the last day of trading on the NYSE Arca for the ETPs, which include the following:

• CurrencyShares Russian Ruble Trust;

• CurrencyShares Mexican Peso Trust;

• Guggenheim EW Euro-Pacific LDRs ETF;

• Guggenheim International Small Cap LDRs ETF;

• Guggenheim Ocean Tomo Growth Index ETF;

• Guggenheim Ocean Tomo Patent ETF;

• Guggenheim Sector Rotation ETF; and

• Rydex MSCI All Country World Equal Weight ETF.

March 23 is also the last day on which baskets of shares of the two CurrencyShares trusts may be created or redeemed. Beginning March 26, and until 4 p.m. ET on June 25, holders may tender their shares via the Depository Trust Co. to trustee Bank of New York Mellon and receive the amount of underlying foreign currency represented by their shares. Beginning June 26, the trustee will sell any remaining trust property for dollars.

Transaction costs incurred in terminating the trusts will be reflected in each trust's net asset value, diminishing the amount of currency received by shareholders.

The six exchange-traded funds will be liquidated March 30, after which shareholders will not be able to purchase or redeem shares or purchase or sell them in the secondary market. If no action is taken by a fund shareholder prior to the liquidation date, each fund will distribute to shareholders a liquidating cash distribution equal to the NAV of the shares as of the liquidation date that will reflect the costs of closing the funds. Shareholders may sell their holdings before March 26, incurring a transaction fee from their broker-dealer.

After the liquidations, New York-based Guggenheim Investments will continue to offer an ETP line-up of 72 products.

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