July 27, 2007 at 2:55 pm by Tom Lydon
Claymore is expected to launch a new exchange traded fund (ETF) on Monday, July 30. The new ETF is the Claymore/Robb Report Global Luxury ETF, which will track the Robb Report Global Luxury Index. As Charles Leary of Index Universe notes, the Robb Report Index contains 20 to 50 stocks of companies that support lifestyles of the rich and famous by supplying them with luxury goods. To be part of the exclusive Robb Report Index, companies must meet a minimum market-cap requirement of $500 million and derive at least 60% of their revenues from luxury good sales.
If you follow the school of thought that says the rich are getting richer, this new ETF might be worth following.
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