Claymore Investments Inc.
, is reportedly fielding offers from local banks in Canada as well as a fund shop south of the border, the Globe and Mail reports
Potential suitors for Canada;s second-largest purveyor of exchange-traded funds and a unit of Guggenheim Partners LLC [see profile]
, include: Invesco PowerShares Capital Management LLC [see profile]
; Bank of Montreal
, which acquired Milwaukee-based Marshall & Ilsley earlier this year; and Royal Bank of Canada
. Claymore currently manages some $6.6-billion in assets, Bloomberg News reported this week. Som Seif
, chief executive officer of Claymore, publicly said he will “not comment on rumors.”
Last week, Seif was part of an open discussion
hosted by the pub in which he denounced active ETFs. "I personally believe that traditional active management doesn't make sense in
an ETF structure," he said.
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