Claymore Securities Inc. has launched the Claymore/MAC Global Solar Energy Index Exchange-Traded Fund (ETF) on NYSE Arca. The index, listed as TAN, is the first solar ETF and provides investors a cost-efficient means of accessing the fast-growing global solar power industry.
‘The availability of this product acknowledges the maturing of the solar energy industry and investor interest in funding solar power development,’ says Christian Magoon, president of Claymore Securities. ‘At its inception, TAN gives investors access to a global portfolio of 25 leading solar companies with a combined market capitalization of close to $100 billion.’
The ETF will seek to replicate the MAC Global Solar Energy Index, which was developed and is maintained by MAC Indexing LLC, an affiliate of Melvin & Company.