Alkoxyalcohol adduct of rare earth monocarboxylate

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An alkoxyalcohol adduct of rare earth monocarboxylate has the formula (I) : [in-line-formulae]M(R2—COO)3.(R1O(CH2)nOH)p   (I) [/in-line-formulae] in which M is a rare earth element such as Pr, Nd, Pm, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb and Lu; R1 is an aliphatic hydrocarbon group having 1 to 4 carbon atoms or a substituted aliphatic hydrocarbon group having 3 to 6 carbon atoms; R2 is a hydrogen atom or an aliphatic hydrocarbon group having 1 to 4 carbon atoms which has or does not have a substituent; n is 2 or 3; and p is a number in the range of 0.5 to 3.