Claymore Investments, Inc. announced on Friday that common class units of the Claymore Canadian Financial Monthly Income ETF (TSX:FIE) are now available for trading on the TSX.

The fund seeks to provide long-term capital appreciation by investing in equity and debt related securities involved in the Canadian financial sector. Its net assets, together with borrowings under its loan facility, are invested in a diversified investment portfolio consisting primarily of securities in the Canadian financial sector, including: common shares, preferred shares, corporate bonds and income trust units.

“FIE has been one of our flagship funds and we are pleased to be bringing a low cost, common class unit of the fund to the market,” said Claymore president and CEO Som Seif. “FIE provides balanced portfolio exposure to the Canadian financial sector with a monthly stream of high income to investors.”

In February, the company announced that it would amend the ETF’s trust agreement, authorizing it to issue an unlimited number of common units and institutional class units, in addition to the advisor class units (TSX:FIE.A) that it’s currently authorized to issue.

The common class units carry an annual management fee of 0.65%, compared to a fee of 1.4% for the advisor class units.

IE