Guggenheim Investments Announces Appointment of a New Trustee & Election of Chief Executive Officer for Certain Closed-End & ...
May 30 2012 - 5:48PM
Business Wire
The exchange traded funds and certain closed-end funds advised
by Guggenheim Funds Investments Advisors, LLC (together the
“Funds”) today announce the appointment of Mr. Donald C.
Cacciapaglia as a Trustee of each of the Funds. The Funds also
announce the election, by the Funds’ Boards of Trustees, of Mr.
Donald C. Cacciapaglia as the Chief Executive Officer. Mr.
Cacciapaglia succeeds Mr. Kevin M. Robinson as Chief Executive
Officer of the Funds. Mr. Robinson will remain the Chief Legal
Officer of the Funds.
Mr. Donald C.
Cacciapaglia
Mr. Cacciapaglia is Senior Managing Director of Guggenheim
Investments, Guggenheim’s investment management business,
responsible for Board relationships. He joined Guggenheim in
February 2010 as President of the investment management businesses
of Guggenheim Partners and Chief Operating Officer of Guggenheim
Partners Asset Management, LLC. Prior to that he was Chairman and
CEO of Channel Capital Group Inc. and its subsidiary broker-dealer
Channel Capital Group LLC, a Guggenheim affiliated company. From
1996 until 2002 when he joined Channel Capital Group, Mr.
Cacciapaglia held the position of Managing Director and Chief
Operating Officer of the Investment Banking Group at PaineWebber.
Additionally, in 1998, he started PaineWebber’s Private Equity
Group and assumed responsibility for the coverage of Leveraged
Buyout firms and the Investment Bank’s Business Development Group.
Before that, Mr. Cacciapaglia was Chief Operating Officer of the
Short and Intermediate Trading Group at CS First Boston
(1995-1996). From 1977 to 1995, he held numerous positions at
Merrill Lynch & Co., including Chief Operating Officer and
Senior Managing Director of Investment Banking, Senior Managing
Director of Global Fixed Income Research and Analytics and Managing
Director of the Western Institutional Region for sales and trading
in San Francisco. Mr. Cacciapaglia was a Senior Analyst with the
Federal Reserve Bank of New York from 1973 -1977.
In addition to his position with Guggenheim Investments, Don is
President, CEO and Trustee of Rydex Dynamic Funds, Rydex ETF Trust,
Rydex Series Funds and Rydex Variable Trust from 2012 to present.
He is President of SBL Fund, Security Equity Fund, Security Income
Fund, Security Large Cap Value Fund and Security Mid Cap Growth
Fund (the “Security Funds”). He will also become a director of the
Security Funds, effective August 23, 2012.
Mr. Cacciapaglia is also President and CEO of Guggenheim Funds
Distributors, LLC, a FINRA registered broker-dealer, and President
and CEO of Guggenheim Funds Investment Advisors, LLC, an SEC
registered investment adviser.
Mr. Cacciapaglia is also an Independent Board Member and Audit
Committee for Equitrust Life Insurance Company, Guggenheim Life and
Annuity Company, and Paragon Life Insurance Company of Indiana.
Interim Chief Compliance
Officer
The Funds also announce the election, by the Funds’ Boards of
Trustees, of Ms. Ann Edgeworth as Interim Chief Compliance Officer.
Ms. Edgeworth currently serves as a Director with Foreside
Compliance Services, LLC. In addition to her service to the
Guggenheim Funds, Ms. Edgeworth serves as the Chief Compliance
Officer for one other investment company that offers exchange
traded products. Prior to joining Foreside in 2011, Ms. Edgeworth
was a Vice President at State Street from 2007-2011 where she
performed a comparable role in the firm’s Compliance Advisory
Services group. Prior to State Street, Ms. Edgeworth was a Director
at Investors Bank & Trust from 2004-2007.
The Funds for which these changes are applicable include all
exchange traded funds in the Claymore Exchange-Traded Fund Trust
and Claymore Exchange-Traded Fund Trust 2 and the following
closed-end funds advised by Guggenheim Funds Investment Advisors,
LLC:
FMO Fiduciary/Claymore MLP Opportunity Fund GBAB
Guggenheim Build America Bonds Managed Duration Trust GEQ
Guggenheim Equal Weight Enhanced Equity Income Fund GGE Guggenheim
Enhanced Equity Strategy Fund GOF Guggenheim Strategic
Opportunities Fund GPM Guggenheim Enhanced Equity Income Fund
About Guggenheim Investments
Guggenheim Investments represents the investment management
division of Guggenheim Partners, LLC (“Guggenheim”), which consists
of investment managers with approximately $130 billion in combined
total assets*. Collectively, Guggenheim Investments has a long,
distinguished history of serving institutional investors,
ultra-high-net-worth individuals, family offices and financial
intermediaries. Guggenheim Investments offers clients a wide range
of differentiated capabilities built on a proven commitment to
investment excellence. Guggenheim Investments has offices in
Chicago, New York City and Santa Monica, along with a global
network of offices throughout the United States, Europe, and
Asia.
Guggenheim Investments is comprised of several investment
management entities within Guggenheim, which includes Guggenheim
Funds Distributors, Inc. and Guggenheim Funds Investment Advisors,
LLC.
*Asset figure is based upon the best available information as of
March 31, 2012 and consists of assets under management and serviced
assets of the various asset managers comprising Guggenheim
Investments. The total asset figure includes $10.7B of leverage for
assets under management and $0.8B of leverage for serviced assets.
Values from some funds are based upon prior periods.
This information does not represent an offer to sell securities
of the Funds and it is not soliciting an offer to buy securities of
the Funds. There can be no assurance that the Funds will achieve
their investment objectives. The net asset value of the Funds will
fluctuate with the value of the underlying securities. It is
important to note that closed-end funds trade on their market
value, not net asset value, and closed-end funds often trade at a
discount to their net asset value. Past performance is not
indicative of future performance. An investment in closed-end funds
is subject to investment risk, including the possible loss of the
entire amount that you invest. Some general risks and
considerations associated with investing in a closed-end fund
include: Investment and Market Risk; Lower Grade Securities Risk;
Equity Securities Risk; Foreign Securities Risk; Interest Rate
Risk; Illiquidity Risk; Derivative Risk; Management Risk;
Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk.
See www.guggenheimfunds.com/cef for a detailed discussion of
closed-end fund-specific risks.
Investors should consider the investment objectives and
policies, risk considerations, charges and expenses of the Funds
carefully before they invest. To obtain a prospectus, which
contains this and other information, visit guggenheimfunds.com or
contact your sales team at Guggenheim Funds Distributors, LLC 2455
Corporate West Drive, Lisle, IL 60532.
Read a fund’s prospectus and summary prospectus (if
available) carefully before investing. It contains a fund’s
investment objectives, risks, charges, expenses and other
information, which should be considered carefully before investing.
Obtain a Guggenheim Funds prospectus and summary prospectus (if
available) at guggenheimfunds.com or call 800.345.7999.
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE
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