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TYW and GPM Announce Results of Reconvened Annual Meetings of Shareholders

^{Published on 2010-08-10 11:35:22 - Market Wire}
 

LISLE, Ill.--([ BUSINESS WIRE ])--[ TS&W / Claymore Tax-Advantaged Balanced Fund ] (NYSE: [ TYW ]) and [ Guggenheim Enhanced Equity Income Fund ] (formerly, Old Mutual/Claymore Long-Short Fund) (NYSE: [ GPM ]) (together, the aFundsa), have announced the results of the reconvened annual meetings of shareholders of the Funds held on Monday, August 9, 2010, after being adjourned on July 19, 2010.

TS&W / Claymore Tax-Advantaged Balanced Fund

As previously announced, on July 19, 2010, prior to adjournment of the annual meeting of shareholders of TYW, it was determined that a quorum of the Preferred Shares was present and the vote was held with respect to the proposal to elect a Class III Trustee by holders of Preferred Shares voting as a separate class. Neither nominee received a majority of the votes of the Preferred Shares present necessary to be elected. At the reconvened annual meeting of shareholders of TYW, a quorum of Common Shares and Preferred Shares, together as a single class, was present and the vote was held with respect to the election of a Class III Trustee by holders of Common Shares and Preferred Shares voting as a single class. Neither nominee received the required majority necessary to be elected. As a result, the incumbent Class III Trustees (Mr. Steven D. Cosler and Mr. Ronald E. Toupin, Jr.) will continue to serve as trustees until such time as their respective successors are duly elected and qualified. It is expected that Mr. Cosler and Mr. Toupin will again stand for election at TYWa™s 2011 annual meeting of shareholders.

At the reconvened annual meeting of shareholders of TYW, a shareholder proposal was presented to request that the Board of Trustees of TYW take the necessary steps to declassify the Board of Trustees so that all trustees are elected on an annual basis. The shareholder proposal was approved by shareholders at the reconvened annual meeting.

Guggenheim Enhanced Equity Income Fund

As previously announced, on July 19, 2010, prior to adjournment of the annual meeting of shareholders of GPM, each of the Boarda™s nominees for election as Class II Trustees, Mr. Steven D. Cosler and Mr. Robert M. Hamje, were elected to serve as Class II Trustees until GPMa™s 2013 annual meeting of shareholders or until their respective successors shall have been elected and qualified.

At the reconvened annual meeting of shareholders of GPM, the proposal to approve a new investment sub-advisory agreement among GPM, Claymore Advisors, LLC and Guggenheim Partners Asset Management, LLC was approved by shareholders.

Additional Information

SMC Fixed Income Management, LP serves as an Investment Sub-Adviser to TYW and is responsible for the day-to-day management of the municipal securities portion of TYW. SMC uses both bottom-up and top-down analysis in constructing portfolios. As of March 31, 2010, SMC Fixed Income Management, LP had approximately $1.1 billion of municipal assets under management and advisement, including a closed-end fund, separately managed accounts and various Berkshire Hathaway insured unit investment trusts.

Thompson, Siegel & Walmsley LLC (aTS&Wa) serves as an Investment Sub-Adviser to TYW and is responsible for the day-to-day management of the equity and income securities portion of TYW. TS&W was founded in 1969 and provides investment management services to corporations, pension and profit-sharing plans, 401(k) and thrift plans, trusts, estates and other institutions and individuals. As of March 31, 2010, TS&W had approximately $7.9 billion in assets under management.

Guggenheim Partners Asset Management (aGPAMa) serves as interim Investment Sub-Adviser to GPM. GPAM is an investment manager specializing in innovative investment strategies that aim to add alpha relative to benchmarks in both up and down markets. GPAM's investment philosophy is predicated upon the belief that thorough research and independent thought are rewarded with performance that has the potential to outperform benchmark indexes with both lower volatility and lower correlation of returns over time as compared to such benchmark indexes. GPAM manages more than $50 billion in investments for foundations, insurance companies and other institutions.

Claymore Advisors, LLC (an affiliate of [ Claymore Securities, Inc. ]) serves as Investment Adviser to the Fund. [ Claymore Securities, Inc. ] offers strategic investment solutions for financial advisors and their valued clients. As an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), Claymore often leads its peers with creative investment strategy solutions. In total, Claymore entities provide supervision, management, or servicing on approximately $15.3 billion in assets as of June 30, 2010. Claymore Securities, Inc. is a wholly-owned subsidiary of Guggenheim Partners, LLC, a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

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. An investment in any investment product is subject to certain risks and other considerations, including the possible loss of the entire principal amount you invest. There can be no assurance that any investment product will achieve its investment objectives. An investment in non-U.S. issuers involves risks that are in addition to the risks associated with domestic issuers; and therefore, may be subject to additional currency, political, economic, and market risks. The net asset value of the Fund 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. See [ www.claymore.com ] for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (8/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE