CHICAGO, IL , received awards for most innovative new ETF, and
contribution to the ETF sector, at the 7th Annual Forum on
Closed-End Funds & Global ETFs. The event was held April 16 in
New York City.
The PowerShares S&P 500 BuyWrite Portfolio (NYSE: PBP), was
recognized with The Award for Most Innovative New ETF in 2007. The
PBP portfolio is based on the CBOE S&P 500 BuyWrite Index which
measures the total rate of return of an S&P 500� covered call
strategy. This strategy consists of holding a portfolio indexed to
the S&P 500� and selling a succession of written options, each
with an exercise price at or above the prevailing price level of
the S&P 500�.
The Award for Contribution to the ETF Sector In 2007 was
presented to Edward McRedmond, senior vice president of portfolio
strategies at Invesco PowerShares.
"On behalf of Invesco PowerShares, I am honored to receive this
award. We have been fortunate to interact with so many talented
people in the ETF business, many of whom are equally deserving of
this recognition," said McRedmond. "I'd like to thank my industry
colleagues for their efforts to educate investors about the
benefits of ETFs."
"We are honored to receive recognition from our peers for the
passionate work we are doing here at Invesco PowerShares," said
Bruce Bond, president and CEO of Invesco PowerShares. "We believe
our innovative and diverse suite of ETFs is at the forefront of the
ETF industry delivering value and market-leading ideas to
investors."
The Annual Closed End Fund & ETF Awards, an initiative of
Capital Link, seek to identify and recognize annually those fund
sponsors and executives who consistently apply high standards of
financial disclosure, as well as investor and shareholder
relations. The Closed End Fund (CEF) & ETF Awards are based on
nominations by a committee of analysts and industry specialists who
actively follow CEFs and ETFs.
Invesco PowerShares is a part of Invesco Ltd., a leading
independent global investment management company.
Invesco PowerShares is leading the intelligent ETF revolution
through its family of more than 100 domestic, international and
active exchange-traded funds. With assets under management of
$12.75 billion, PowerShares ETFs trade on all of the major U.S.
stock exchanges that trade ETFs. For more information, please visit
us at www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading
independent global investment management company dedicated to
helping people worldwide build their financial security. By
delivering the combined power of its distinctive worldwide
investment management capabilities, including AIM, Atlantic Trust,
Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco
provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the
New York Stock Exchange under the symbol IVZ. Additional
information is available at www.invesco.com.
There are risks involved with investing in ETFs including
possible loss of money. Shares are not actively managed and are
subject to risk similar to stocks and covered call options, as well
as those risks related to short selling and margin maintenance.
Shares are not FDIC insured, may lose value and have no bank
guarantee.
There are additional risks involved in writing (selling) covered
call options on the stocks of the S&P 500 Index (Index). The
Fund, by writing covered call options on this Index, will give up
the opportunity to benefit from potential increases in the value of
the index stocks above the exercise prices of the options, but will
continue to bear the risk of declines in the value of the Index.
The premiums received from the options may not be sufficient to
offset any losses sustained from the volatility of the Index over
time. In addition, exchanges may suspend trading of options in
volatile markets. If trading is suspended, the Fund may be unable
to write (sell) options at times that may be desirable or
advantageous for the Fund to do so. Trading suspensions may limit
the Fund's ability to achieve its investment objectives. The Fund
may be required to sell investments from its portfolio to make cash
settlement on (or transfer ownership of an Index stock to
physically settle) any options that are exercised. Such sales (or
transfers) may occur at inopportune times, and the Fund may incur
transaction costs that increase its expenses.
The Chicago Board Options Exchange is the index provider for the
PowerShares S&P 500 BuyWrite Portfolio. CBOE is not affiliated
with the Trust, the Adviser or the Distributor. The Adviser has
entered into a license agreement with the Index Provider to use the
Underlying Index. The PowerShares S&P 500 BuyWrite Portfolio is
entitled to use its respective Underlying Index pursuant to a
sublicensing arrangement with the Adviser.
"S&P," "S&P 500" and "S&P 500(TM) Index," are
registered trademarks of Standard & Poor's Ratings Group, a
division of The McGraw-Hill Companies, Inc. (S&P). S&P has
granted Invesco PowerShares Capital Management LLC ("Licensee") a
license to use the CBOE S&P 500 BuyWrite Index for purposes of
Licensee's PowerShares S&P 500 BuyWrite Portfolio.
The CBOE S&P 500 BuyWrite Index(TM) is a trademark of CBOE
and has been licensed for use for certain purposes by the
Adviser.
Shares are not individually redeemable and owners of the shares
may acquire those shares from the Funds and tender those shares for
redemption to the Funds in Creation Unit aggregations only,
typically consisting of 100,000 shares.
Invesco Aim Distributors, Inc. is the distributor of the
PowerShares Exchange-Traded Fund Trust I, the PowerShares
Exchange-Traded Fund Trust II, the PowerShares Actively Managed
Exchange-Traded Fund Trust and the PowerShares India
Exchange-Traded Fund Trust.
Invesco PowerShares Capital Management LLC., Invesco Aim
Distributors, Inc. and Invesco Institutional (N.A.), Inc. are
indirect, wholly owned subsidiaries of Invesco Ltd.
An investor should consider each Fund's investment objective,
risks, charges and expenses carefully before investing. The
prospectus contains this and other information about the Funds. For
more complete information about the Funds or to obtain a
prospectus, call 800.983.0903. Please read the prospectus carefully
before investing.
Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email
Contact Bill Conboy BC Capital Partners 303-415-2290 Email
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