The board of trustees of the TS&W / Claymore Tax-Advantaged Balanced Fund (TYW) has approved its reorganization into an open-end mutual fund. The reorganized fund, to be managed by Guggenheim Partners Asset Management, will invest primarily in tax-exempt municipal securities. Security Global Investors will be the open-end fund’s investment adviser, while Rydex Distributors will distribute the fund. The shares of the fund will be redeemable by shareholders at net asset value on a daily basis.
Click here for the release from Business Wire.