Invesco PowerShares Announces Changes to ETF Family
19 Dicembre 2012 - 5:00PM
Marketwired
Invesco PowerShares Capital Management LLC, a leading global
provider of exchange-traded funds (ETFs) with more than $74 billion
in franchise assets, announced changes to its product line.
As part of its ongoing commitment to putting investors'
interests first, Invesco PowerShares announced that it plans to
close 13 ETFs. The affected funds represent less than 1% of Invesco
PowerShares' total assets.
"We regularly review our ETF portfolios, evaluating numerous
factors such as investment results, length of time in the market
and investor interest," said Ben Fulton, Invesco PowerShares
managing director of global ETFs. "Based on this assessment, we
believe the time is right to make these moves and refocus our
resources to better meet investors' needs. As one of the leading
innovators in the ETF industry, Invesco PowerShares remains fully
committed to maintaining and developing a comprehensive and
compelling product line of ETFs to help investors meet their
financial goals."
At a Dec. 18, 2012 meeting, the PowerShares Funds Board of
Trustees approved the closings. The final day of trading on The
NASDAQ Stock Market LLC ("NASDAQ") and NYSE Arca, Inc. ("NYSE
Arca") will be Feb. 26, 2013.
Shareholders may sell their holdings on or before Feb. 26, 2013,
and may incur typical transaction fees from their broker-dealer.
Shareholders who do not sell their holdings on or before Feb. 26,
2013, will receive cash equal to the amount of the net asset value
of their shares, which will include any capital gains and
dividends, in the cash portion of their brokerage accounts on the
liquidation date (currently scheduled for March 7, 2013).
Shareholders will generally recognize a capital gain or loss equal
to the amount received for their shares over their adjusted basis
in such shares.
The affected ETFs are listed below:
Fund Name Ticker Symbol
PowerShares Dynamic Insurance Portfolio PIC
PowerShares Morningstar StockInvestor Core Portfolio PYH
PowerShares Dynamic Banking Portfolio PJB
PowerShares Global Steel Portfolio PSTL
PowerShares Active Low Duration Portfolio PLK
PowerShares Global Wind Energy Portfolio PWND
PowerShares Active Mega-Cap Portfolio PMA
PowerShares Global Coal Portfolio PKOL
PowerShares Global Nuclear Energy Portfolio PKN
PowerShares Ibbotson Alternative Completion Portfolio PTO
PowerShares RiverFront Tactical Balanced Growth Portfolio PAO
PowerShares RiverFront Tactical Growth & Income Portfolio PCA
PowerShares Convertible Securities Portfolio CVRT
For additional information, shareholders of the ETFs which are
scheduled for liquidation may call Invesco PowerShares at
800-983-0903.
Invesco PowerShares Capital Management LLC is Leading the
Intelligent ETF Revolution® through its family of more than 140
domestic and international exchange-traded funds, which seek to
outperform traditional benchmark indexes while providing advisors
and investors access to an innovative array of focused investment
opportunities. With franchise assets over $74 billion as of Sept
30, 2012, PowerShares ETFs trade on both U.S. stock exchanges. For
more information, please visit us at invescopowershares.com or
follow us on Twitter @PowerShares.
Invesco, Ltd. is a leading independent global investment
management firm, dedicated to helping investors worldwide achieve
their financial objectives. By delivering the combined power of our
distinctive investment management capabilities, Invesco provides a
wide range of investment strategies and vehicles to our retail,
institutional and high net worth clients around the world.
Operating in more than 20 countries, the firm is 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 risks similar to those of stocks, including those
regarding short selling and margin maintenance requirements.
Ordinary brokerage commissions apply.
Note: Not all products are available through all firms.
Not FDIC Insured | May Lose Value | No Bank
Guarantee
Shares are not individually redeemable and owners of the shares
may acquire those shares from the Fund and tender those shares for
redemption to the Fund in Creation Unit aggregations only,
typically consisting of 50,000 shares.
PowerShares® is a registered trademark of Invesco PowerShares
Capital Management LLC. Invesco PowerShares Capital Management LLC
and Invesco Distributors, Inc. are indirect, wholly owned
subsidiaries of Invesco Ltd.
An investor should consider the Funds'
investment objectives, risks, charges and expenses carefully before
investing. For this and more complete information about the Funds
call 800 983 0903 or visit invescopowershares.com for a prospectus.
Please read the prospectus carefully before investing.
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Media Contacts: Kristin Sadlon Cohn & Wolfe
212.798.9864 Email Contact Bill Conboy 303-415-2290 Email
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