Claymore set to terminate Guggenheim BulletShares 2012 funds Dec. 31

By Toni Weeks

San Diego, Dec. 20 - Claymore Exchange-Traded Fund Trust said its Guggenheim BulletShares 2012 Corporate Bond ETF and Guggenheim BulletShares 2012 High Yield Corporate Bond ETF will be closed to new investments on Dec. 31.

According to a 497 filing with the Securities and Exchange Commission, the last day of trading for each fund on the NYSE Arca will be Dec. 28.

Termination of the exchange-traded funds does not require further approval by the board of trustees or fund shareholders, as each fund's principal investment strategy calls for the fund's portfolio to transition to cash and cash equivalents, including U.S. Treasury bills and investment-grade commercial paper, during the last year of operation.

Once each fund hits its target date, Claymore will make a cash distribution to shareholders of record as of Dec. 31 of its net assets after first providing for any liabilities of the fund, including capital gains and dividends, before closing down the ETF.

Lisle, Ill.-based Guggenheim Funds Investment Advisors, LLC, the funds' investment adviser, may waive some or all of either fund's advisory fees so that no fund will have a negative yield during the termination period.

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