SERIES2
clear global timber portfolio series 2
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DAILY DATA
as of
3/19/10
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Portfolio Status
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Secondary
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Offer Price1
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--
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Bid Price2
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$9.569000
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Liquidation Price3
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$9.569000
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1 The "offer" price represents the net asset value of one unit
of a trust plus a transactional sales charge.
2 The "bid" price represents the net asset value of one unit
of a trust excluding deferred sales charge.
3 The "liquidation" price represents the net asset value of
one unit of a trust and includes any front-end and deferred sales charges accounted
for if investors liquidate units.
4 The Historical Annual Dividend Distribution is as of date of deposit. The amount of distributions of the Trust may be lower or greater than the above-stated
amount due to certain factors that may include, but are not limited to, a change
in the dividends paid by issuers, a change in Trust expenses or the sale or maturity
of securities in the portfolio. Fees and expenses of the Trust may vary as a result
of a variety of factors including the Trust's size, redemption activity, brokerage and
other transaction costs and extraordinary expenses.
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DEPOSIT INFORMATION
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Inception Date
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6/18/2008
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Mandatory Termination Date
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6/16/2010
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NASDAQ Ticker Symbol
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CCTIBX
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Inception Unit Price
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$10.000000
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Inception Bid Price
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$9.900000
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Inception Liquidation Price
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$9.655000
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Historical Annual Dividend Distribution4
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--
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Deferred Sales Charge Dates
5
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Mar 2009
Apr 2009
May 2009
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| CUSIP - Monthly-Cash |
18386H546 |
| CUSIP - Monthly-Reinvest |
18386H553 |
| CUSIP - Monthly-Fee/Cash |
18386H561 |
| CUSIP - Monthly-Fee/Reinvest |
18386H579 |
5 Early redemption of units will still cause payment of deferred sales charge.
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Past performance is no guarantee of future results. Investment returns and principal value will fluctuate with changes in market conditions. Investors' units, when redeemed, may be worth more or less than their original cost.
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INVESTMENT OBJECTIVE
The Clear Global Timber Trust seeks capital appreciation through investing in securities included in the Clear Global Timber Index (the”Index”).
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PRINCIPAL INVESTMENT STRATEGY
The trust seeks to invest, as of the trust’s deposit date, in the securities included in the Clear Global Timber Index. However, the trust will only contain securities that are currently trading as of one day before the initial date of deposit. The Index is comprised of common stocks, real estate investment trusts (“REITs”), American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). All of the securities included in the Index are selected from a universe of global timber companies. Clear Indexes LLC (“Clear”) defines global timber companies as firms that own or lease forested land and harvest the timber for commercial use and sale of wood-based products, including lumber, pulp or other processed or finished goods such as paper and packaging.
Clear does not guarantee the inclusion of all relevant companies in the Index. The trust’s portfolio will NOT be adjusted to reflect changes to the Clear Global Timber Index and accordingly, the performance of the trust will NOT correspond to the performance of the Clear Global Timber Index.
See “Investment Policies” in Part B of the prospectus for more information.
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SELECTION CRITERIA
The sponsor will seek to create an initial portfolio that substantially replicates the Clear Global Timber Index. As of one day prior to the initial date of deposit, the trust will generally include all of the securities comprising the Index. Following the initial date of deposit, the trust’s portfolio will NOT be adjusted to reflect any changes to the Index.
The Clear Global Timber Index
The Clear Global Timber Index is designed to track the performance of common stocks of global timber companies. The Index Provider identifies global timber companies predominantly through proprietary research and use of the Global Industry Classification Standard (“GICS”). After identification of a global timber company (as defined above) through proprietary research, Clear searches publicly available information about such companies using Bloomberg, Reuters, and other more widely available resources including Yahoo Finance, Google, and individual company web sites to determine that the company harvests timber from forested land owned or leased by such company rather than purchasing timber externally as raw material for product development.
Potential Index constituents are categorized as follows according to their degree of exposure to timber: Category A is comprised of companies with high exposure to timber by virtue of owning and/or managing forested land and marketing forest products; Category B includes companies with medium exposure to timber by virtue of owning and/or managing forested land and marketing paper products or packaging materials; and Category C is comprised of companies with low exposure to timber by virtue of marketing forest products or paper products or packaging materials while not owning and/or managing forested land and harvesting trees. Companies with Category C exposure are not considered for inclusion in the Index.
Index Construction
Clear, based upon publicly available information, verifies that each company included in the universe of potential Index constituents meets the following criteria:
• Potential Index constituents include all equities, REITs, ADRs and GDRs of global timber companies, as defined above, trading on U.S. and global exchanges.
• Potential Index constituents must have a minimum average daily trading volume greater than or equal to 75,000 shares and minimum average daily trading volume of over $500,000 over the past month.
• Index constituents must have a market capitalization greater than or equal to $300 million at the time of each reconstitution.
• The Index includes all companies from Category A that exclusively own/lease forested land in North America, along with Category A and Category B firms from the rest of the world.
The weighting of companies within the Index reflects the distribution of forest land across regions of the world. Index constituents with forested land exclusively in North America reflect the worldwide proportion of North American forested land, while Index constituents with forested land outside of North America reflect the worldwide proportion of forested land outside North America. This information is based on public sources including the UN Food and Agriculture Organization.
The Index constituent selection methodology was developed by Clear as a quantitative approach to select securities from the Index universe. The constituent selection model evaluates and selects stocks from the Index universe using a proprietary, 100% rulesbased methodology developed by Clear. The selected companies are weighted using a modified market capitalization weighting methodology. Each company can have a maximum weight of 4.5% at the time of each reconstitution. The constituent selection process is repeated annually and the Index rebalance is conducted quarterly.
As with any similar investments, there can be no guarantee that the objective of the trust will be achieved. Additionally, there is no guarantee that the global timber sector or stocks of companies in the global timber sector will perform well or that the trust will replicate the future performance of the global timber sector as a whole. See “Investment Risks” in Part A of the prospectus for a discussion of the risks of investing in the trust.
Clear Indexes LLC
Clear Indexes LLC, a subsidiary of Clear Asset Management, creates and publishes custom indices using a combination of qualitative research and quantitative methods. Clear designs custom indices to quantitatively measure specific market segments. The indices are used for custom institutional benchmarks and investment product design. Additional information can be found at clearindexes.com.
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RISKS AND OTHER CONSIDERATIONS
This Trust is not being offered for sale. This data is for informational purposes only.
As with all investments, you can lose money by investing in the trust. The trust also might not perform as well as you expect. This can happen for reasons such as these:
- Securities prices can be volatile. The value of your investment may fall over time. Market value fluctuates in response to various factors. These can include stock market movements, purchases or sales of securities by the trust, government policies, litigation, and changes in interest rates, inflation, the financial condition of the securities’ issuer or even perceptions of the issuer.
- Share prices or dividend rates on the securities in the trust may decline during the life of the trust. There is no guarantee that the issuers of securities will declare dividends in the future and, if declared, whether they will remain at current levels or increase over time.
- The performance of the trust will NOT correspond with the performance of the Index. This is due primarily because the trust’s portfolio will not be modified to reflect changes in the Index and the trust is subject to sales charges and expenses.
- The trust includes securities issued by companies in the global timber sector. Companies in the global timber sector are subject to natural disasters and other events such as fire, insect infestation, disease, flooding, and other weather conditions. Additionally, global timber companies are subject to many federal, state and local environmental, health and safety laws and regulations. Tariffs, quotas or trade agreements can also affect the markets for products of global timber companies.
- The trust invests in securities of companies in the basic materials sector. General risks of companies in the basic materials sector include the general state of the economy, consolidation, domestic and international politics and excess capacity. In addition, basic materials companies may also be significantly affected by volatility of commodity prices, import controls, worldwide competition, liability for environmental damage, depletion of resources and mandated expenditures for safety and pollution control devices.
- The trust includes securities issued by small-capitalization and mid-capitalization companies. These stocks customarily involve more risk than large-capitalization or more seasoned stocks. Small-capitalization and mid-capitalization companies may have limited product lines, markets or financial resources and may be more vulnerable to adverse general market or economic developments.
- The trust will invest in foreign securities and ADRs. The trust’s investment in foreign securities and ADRs presents additional risk. ADRs are issued by a bank or trust company to evidence ownership of underlying securities issued by foreign corporations. Securities of foreign issuers present risks beyond those of domestic securities. More specifically, foreign risk is the risk that foreign securities will be more volatile than U.S. securities due to such factors as adverse economic, currency, political, social or regulatory developments in a country, including government seizure of assets, excessive taxation, limitations on the use or transfer of assets, the lack of liquidity or regulatory controls with respect to certain industries or differing legal and/or accounting standards.
- The trust includes REITs. REITs may concentrate their investments in specific geographic areas or in specific property types, such as, hotels, shopping malls, residential complexes and office buildings. The value of the REITs and the ability of such securities to distribute income may be adversely affected by several factors, including: rising interest rates; changes in the global and local economic climate and real estate conditions; perceptions of prospective tenants of the safety, convenience and attractiveness of the properties; the ability of the owner to provide adequate management, maintenance and insurance; increased competition from new properties; the impact of present or future environmental legislation and compliance with environmental laws; changes in real estate taxes and other operating expenses; adverse changes in governmental rules and fiscal policies; adverse changes in zoning laws; declines in the value of real estate; the downturn in the subprime mortgage lending market in the United States; and other factors beyond the control of the issuer of the security.
- The trust may invest in companies that are considered to be passive foreign investment companies (“PFICs”). In general, PFICs are certain non-U.S. corporations that receive at least 75% of their annual gross income from passive sources (such as interest, dividends, certain rents and royalties or capital gains) or that hold at least 50% of their assets in investments producing such passive income. As a result of an investment in PFICs, the trust could be subject to U.S. federal income tax and additional interest charges on gains and certain distributions with respect to those equity interests, even if all the income or gain is distributed to its unitholders in a timely manner. The trust will not be able to pass through to its unitholders any credit or deduction for such taxes.
- Inflation may lead to a decrease in the value of assets or income from investments.
- The sponsor does not actively manage the portfolio. The trust will generally hold, and may continue to buy, the same securities even though the security’s outlook, rating, market value or yield may have changed.
See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.
Please see the Trust prospectus for more complete risk information.
UITs are fixed and not actively managed. Investors can lose some or all of their investment in this Trust. An investment in this fixed portfolio should be made with an understanding of the risks involved with owning various types of investments. Industry predictions may not materialize and securities selected for the Trust may not participate in overall industry growth, if any. There is no guarantee that this portfolio will achieve its investment objective. The economic condition of the issuers of the securities in this portfolio as well as the stock market, in general, may worsen and therefore reduce the value of the units of the portfolio.
This UIT is part of a long-term strategy, and investors should consider their ability to invest in successive portfolios at the applicable sales charge, if available. There are tax consequences associated with an investment from one series to the next. Investors should consult their tax advisor to determine tax consequences associated with an investment from one portfolio to the next. Units of certain portfolios may be well suited for purchase by Individual Retirement Accounts or other qualified retirement plans. Consult your attorney or tax advisor regarding tax consequences associated with the purchase of units. Claymore Securities, Inc. does not offer tax advice.
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Investors should carefully consider the investment objectives and policies, risk considerations, charges
and ongoing expenses of any investment product before investing. The prospectus contains this and other
relevant information. Please read the prospectus carefully before you invest. To obtain a prospectus,
please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle,
Illinois 60532, 800-345-7999, or download one by accessing the Literature section
of this website.
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
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