Claymore Securities Inc has launched a exchange traded fund (ETF) to help investors take advantage of the global timber market.
Claymore/Clear Global Timber Index ETF (CUT) has been launched on the American Stock Exchange (AMEX) and will track the Clear Global Timber Index in order to assess the market for potential investors.
“Timber has had a historically low correlation to traditional asset classes, which provides investors a unique diversification tool that may help reduce a portfolio’s overall volatility,” said Christian Magoon, head of Claymore’s ETF Group.
“With the launch of CUT, investors have an investment vehicle that seeks to provide efficient access to the global timber market.”
The Clear Global Timber Index looks at firms that own or lease forest land and harvest the timber for commercial use. CUT is the 373rd ETF to launch on AMEX, and is Claymore’s 35th.
