Claymore Securities offers sun exposure

US-based Claymore Securities has launched the first solar power exchange-traded fund (ETF) on NYSE Arca. The Global Solar Energy index ETF seeks to replicate the Mac Global Solar Energy index, which provides access to 25 leading global solar companies with a combined market capitalisation of nearly $100 billion.

The Global Solar Energy index, developed and maintained by Mac Indexing, is the first to independently track the solar energy sector. Mac Indexing is an affiliate of Melvin, which specialises in clean energy equity research and index development.

The index comprises stocks selected by the relative importance of solar power within the company's business model, which is determined by Mac Indexing. The companies selected work within certain segments of the solar energy industry, including companies that produce solar power equipment and products, as well as companies that supply raw material or components to solar power equipment producers.