INVESTMENT OBJECTIVE
The investment objective of the Fund is to replicate the price
performance of silver bullion, less the Fund's expenses and fees. The
Fund is not actively managed. The Fund does not anticipate making
regular distributions.
The Fund invests in holdings of unencumbered, silver bullion, and will
not speculate with regard to short-term changes in silver prices. All
of the silver bullion purchased by the Fund will be certified either
"London Good Delivery" or "COMEX Good Delivery" by the relevant vendor.
This strategy provides investors with the ability to invest in silver
bullion in a convenient, tradable and secure manner without the
associated inconvenience and high transaction, handling, storage,
insurance and other costs typical of direct silver bullion investment.
Trust Highlights
Opportunity to Capitalize on Silver with Currency Hedge against US dollar. Easy Access and Safe Direct Investment in Silver Bullion - The custodian of the Trust is ScotiaMocatta. ScotiaMocatta is one of the largest custodians of Silver in the world.
- The Silver Bullion will be stored in secure vault facilities.
Low-Cost Direct Ownership of Silver Bullion - Low management fee of 0.60% (which includes all operating expenses, including custody costs).
Automatic Conversion to ETF if Trading at Discount to NAV1 - ETF structure potentially provides more efficient trading and greater liquidity.
- Claymore was the first asset management company in Canada to create
a conversion feature from a closed-end fund to an ETF and has filed a
patent application in Canada for this process.
1. Commencing after January 15, 2010, if for a period of 10 consecutive
trading days, the daily weighted average trading price (or, in the
event there has been no trading on a particular day, the average of the
closing bid and ask prices) of the Fund Units is greater than a
discount of 2% of NAV per Unit for that day, there will be an automatic
conversion of the Fund to an ETF.