Invesco PowerShares Announces Changes to ETF Family
Plans to Change the Indexes and Names of Ten ETFs and Close Four
ETFs
CHICAGO, IL--(Marketwired - Dec 18, 2013) - Invesco
PowerShares Capital Management LLC, a leading global provider of
exchange-traded funds (ETFs) with more than $97 billion in
franchise assets, announced changes to its product line.
Reflective of its ongoing commitment to place investors'
interests first, Invesco PowerShares announced that it plans to
change the underlying indexes and names of ten ETFs. In
addition, it also announced plans to close four ETFs, which
together represent less than 1% of Invesco PowerShares' total
assets.
"We regularly evaluate our ETF product offerings using numerous
factors including investment results, how investors may utilize
them in portfolios and length of time in the market, among others,"
said Dan Draper, Invesco PowerShares managing director of global
ETFs. "For more than a decade, our focus has been to ensure
that we provide innovative ETFs that can help investors meet their
financial goals amidst a changing investment landscape. We
believe these changes will provide investors a unique set of
investment opportunities and position our family of ETFs for
continued growth."
On December 17th, the Board of Trustees approved name,
investment objective, underlying index, and investment policy and
strategy changes for the following ETFs. These changes are
scheduled to take effect on February 19, 2014:
|
Current Ticker |
|
New Ticker |
|
Current Portfolio Name |
|
New Portfolio Name |
|
PWO |
|
DWAQ |
|
PowerShares Dynamic OTC Portfolio |
|
PowerShares DWA NASDAQ Momentum Portfolio |
|
PYZ |
|
N/A |
|
PowerShares Dynamic Basic Materials Sector Portfolio |
|
PowerShares DWA Basic Materials Momentum Portfolio |
|
PEZ |
|
N/A |
|
PowerShares Dynamic Consumer Discretionary Sector Portfolio |
|
PowerShares DWA Consumer Cyclicals Momentum Portfolio |
|
PSL |
|
N/A |
|
PowerShares Dynamic Consumer Staples Sector Portfolio |
|
PowerShares DWA Consumer Staples Momentum Portfolio |
|
PXI |
|
N/A |
|
PowerShares Dynamic Energy Sector Portfolio |
|
PowerShares DWA Energy Momentum Portfolio |
|
PFI |
|
N/A |
|
PowerShares Dynamic Financial Sector Portfolio |
|
PowerShares DWA Financial Momentum Portfolio |
|
PTH |
|
N/A |
|
PowerShares Dynamic Healthcare Sector Portfolio |
|
PowerShares DWA Healthcare Momentum Portfolio |
|
PRN |
|
N/A |
|
PowerShares Dynamic Industrials Sector Portfolio |
|
PowerShares DWA Industrials Momentum Portfolio |
|
PTF |
|
N/A |
|
PowerShares Dynamic Technology Sector Portfolio |
|
PowerShares DWA Technology Momentum Portfolio |
|
PUI |
|
N/A |
|
PowerShares Dynamic Utilities Portfolio |
|
PowerShares DWA Utilities Momentum Portfolio |
"As with our existing PowerShares DWA Momentum ETF lineup, these
portfolios will be based on momentum strategies as measured by
Dorsey Wright's definition of relative strength characteristics,
which can be a powerful tool for stock selection," said Lorraine
Wang, Invesco PowerShares global head of ETF products and research.
"The momentum indexes were developed by Dorsey Wright who we
believe remains a leader in relative strength investing."
On December 17th, the Board of Trustees also approved the
following ETF closures. The final day of trading for the ETFs on
The NASDAQ Stock Market LLC ("NASDAQ") and NYSEARCA, Inc.
("NYSEARCA") will be February 18, 2014:
|
Ticker |
|
Fund Names Closing |
|
KBWX |
|
PowerShares KBW International Financial Portfolio |
|
PMNA |
|
PowerShares MENA Frontier Countries Portfolio |
|
PIQ |
|
PowerShares Dynamic MagniQuant Portfolio |
|
PXN |
|
PowerShares Lux Nanotech Portfolio |
Shareholders may sell their holdings on or before February 18,
2014 and may incur typical transaction fees from their
broker-dealer. Shareholders who do not sell their holdings on or
before February 18, 2014 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. The shareholder payment date is currently scheduled for
on or about February 25, 2014. Shareholders will generally
recognize a capital gain or loss equal to the amount received for
their shares over their adjusted basis in such shares.
For additional information, shareholders of the ETFs which are
scheduled for changes or liquidation may call Invesco PowerShares
at 800-983-0903.
About Dorsey, Wright & Associates, LLC Dorsey, Wright &
Associates (DWA) is an independent and privately owned registered
investment advisory firm based in Richmond, Virginia. Thomas
Dorsey and Watson Wright founded Dorsey, Wright & Associates in
1987 to provide technical equity analysis services to professional
and individual investors. Today, DWA remains a leader in Point
& Figure analysis and Relative Strength investing. Dorsey
Wright maintains a Global Technical Research Platform, available by
subscription, and provides advisory, subadvisory and licensing
services. For more information, please visit dorseywright.com.
About Invesco PowerShares Capital Management LLC and Invesco,
Ltd. 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 $97 billion as of
November 30, 2013, PowerShares ETFs trade on both US 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 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.
Important Risk Information 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. The Funds' return may not match the return of the
Underlying Index.
Investments focused in a particular industry are subject to
greater risk, and are more greatly impacted by market volatility,
than more diversified investments.
The Funds are considered non-diversified and may be subject to
greater risks than a diversified fund.
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 Units only, typically consisting of
aggregations of 50,000, 75,000, 100,000 or 200,000 shares.
Invesco Distributors, Inc. is the distributor of the PowerShares
Exchange-Traded Fund Trust II. Invesco Distributors Inc. is not
affiliated with Dorsey, Wright & Associates, LLC.
PowerShares® is a registered trademark of Invesco PowerShares
Capital Management LLC (Invesco PowerShares). 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.
(NYSEARCA: PWO) (NYSEARCA: PYZ) (NYSEARCA: PEZ) (NYSEARCA: PSL)
(NYSEARCA: PXI) (NYSEARCA: PFI) (NYSEARCA: PTH) (NYSEARCA: PRN)
(NYSEARCA: PTF) (NYSEARCA: PUI) (NYSEARCA: KBWX) (NASDAQ: PMNA)
(NYSEARCA: PIQ) (NYSEARCA: PXN)
Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email
Contact Bill Conboy 303-415-2290 Email Contact
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