Guggenheim Renames GSY Ultra Short
A press release entitled, "Guggenheim Investments Changes Name of Actively Managed $1 Billion Enhanced Short Duration ETF" says, "Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, has changed the name of the Guggenheim Enhanced Short Duration ETF to the Guggenheim Ultra Short Duration ETF. The name change is effective today. The fund's ticker symbol (GSY) remains the same. The name change more accurately describes and provides greater clarity of the fund's investment strategy. The fund holds a diversified portfolio of varying maturities, with an average duration of less than one year. The fund is appropriately categorized in Morningstar's Ultrashort Bond Category due to its investment guidelines and portfolio holdings. The Adviser believes the new name will enable investors and financial professionals to precisely identify the fund's investment strategy. There will be no change in the actively managed fund's investment objective or investment strategy. There also will be no changes to the fund's portfolio management team of B. Scott Minerd, Anne B. Walsh, James W. Michal, Steven H. Brown, and Kris Dorr." William Belden, Managing Director and Head of ETF Business Development for Guggenheim Investments, comments, "Guggenheim's actively managed approach allows the portfolio investment team the latitude to express its market views, while still adhering to the fund's stated objectives -- offering investors enhanced yield opportunities within a risk-managed approach. GSY can be used for tactical cash positions to deliver potentially greater return than cash as well as liquidity for non-immediate needs. It also may provide the flexibility to invest in floating-rate securities, which reset based on current interest rates, strategically positioning the fund for a changing interest-rate environment."
