Lisle, Ill 04/16/08 (www.emfis.com [Link 1])

Claymore Securities Inc., the third-fastest growing exchange-traded fund (ETF) provider in 2007, launched its new Claymore/MAC Global Solar Energy Index ETF on the NYSE Arca exchange under symbol TAN.  The new fund is the first solar ETF.

"The availability of this product acknowledges the maturing of the solar energy industry and investor interest in funding solar power development," said Claymore's president, Christian Magoon.

TAN tracks the MAC Global Solar Energy Index, containing a total of 25 stocks, many of them deriving two-thirds or more of their revenue from solar energy.  The index is heavily weighted toward growth, and is more than 75 percent international.  China holds 28.87 percent of the weight of the index, with Germany holding 27.14 percent and the United States holding 26.84 percent.  The remaining percentage is split between four stocks from Canada, Norway, Spain and Switzerland.

Because 28.87 percent of the ETF is based on Chinese companies, the new solar ETF may also attract investors interested in emerging markets.  The Chinese companies tracked by the index are Suntech Power Holdings, JA Solar Holdings, LDK Solar Co Ltd., Yingli Green Energy, Trina Solar Ltd., Solarfun Power Holdings Co., and China Sunergy Co Ltd.

Claymore may be the first to implement a solar ETF, but it will not be the last.  Van Eck currently has its own solar ETF in registration.

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