This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

DCS Announces Appointment Of Guggenheim Partners Asset Management, LLC As Investment Sub-Adviser

(NYSE: DCS) Claymore Dividend & Income Fund (the “Fund”) announces that the Fund’s Board of Trustees has approved the appointment of a new investment sub-adviser to the Fund: Guggenheim Partners Asset Management, LLC (“GPAM”), an affiliate of Guggenheim Funds Investment Advisors, LLC (“GFIA”), the Fund’s investment adviser. GPAM will begin serving as investment sub-adviser as of May 16, 2011. The Fund will continue to seek its primary investment objective of seeking a high level of current income with a secondary objective of capital appreciation, but will seek to achieve such investment objective by utilizing an enhanced equity option strategy developed by GPAM. The Fund anticipates that this investment strategy may increase the income and gains earned by the Fund, which may result in an increase in the amount of quarterly distributions payable by the Fund beginning in August 2011 to an annualized range of 7% to 8%, based on current market conditions. No assurance can be given that such a distribution rate will be achieved and the Fund’s actual distribution rate may be above or below the range stated herein. In connection with the appointment of GPAM, GFIA has agreed to extend the waiver of a portion of the advisory fees payable by the Fund.

Change in Investment Sub-Adviser

The Fund’s Board of Trustees has approved the appointment of GPAM as the Fund’s investment sub-adviser, effective as of May 16, 2011. At such time, Manning & Napier Advisors, Inc. (“M&N”) will cease to serve as investment sub-adviser to the Fund and GPAM will enter into an interim investment sub-advisory agreement (the “Interim Sub-Advisory Agreement”) with GFIA and the Fund, which will be in effect for an interim period of up to 150 days. The Board of Trustees also approved a new sub-advisory agreement among the Fund, GFIA and GPAM (the “New Sub-Advisory Agreement”), to be effective upon approval by shareholders, and intends to submit the New Sub-Advisory Agreement to shareholders for approval at the 2011 annual meeting of shareholders of the Fund. Proxy materials for the annual meeting will contain information regarding the New Sub-Advisory Agreement and GPAM. Each of GFIA and GPAM is an indirect subsidiary of Guggenheim Partners, LLC (“Guggenheim”), a diversified financial services firm.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $99.54 0.00%
GOOG $678.11 0.00%
TSLA $148.25 0.00%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs