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PowerShares expands family of DWA Technical Leaders portfolios


Exchange-traded fund provider PowerShares Capital Management has announced two additions to its DWA Technical Leaders range of exchange-traded funds with portfolios covering developed mark

Exchange-traded fund provider PowerShares Capital Management has announced two additions to its DWA Technical Leaders range of exchange-traded funds with portfolios covering developed markets outside the US and emerging markets.

The two new ETFs, along with the PowerShares DWA Technical Leaders Portfolio, a domestic equity ETF, offer investors access to companies that demonstrate relative strength characteristics in US, other developed and emerging markets, using technical analysis methodology developed by investment advisory firm Dorsey Wright & Associates.

‘The DWA technical leaders strategy, based on relative strength, has produced robust investment results over time, and is widely followed by advisers and professional asset managers,’ says Bruce Bond, president and chief executive of PowerShares.

A key strength of the DWA methodology, Bond says, is that it is based on unbiased, objective market data, as opposed to a more subjective forecasting and research model. Technical leaders are companies identified by the DWA selection methodology that possess relative strength characteristics compared with their peers and industry benchmarks. Relative strength is a quantitative measure of a stock’s performance in relation to the rest of the market, expressed in as a percentage.

‘The PowerShares DWA technical leaders portfolios replicate advanced indices that can adapt to changes in market leadership, whether those leadership changes are based upon market capitalisation, style, industry sector, or other factors,’ says Tom Dorsey, president of Dorsey Wright.

An independent and privately-owned investment advisory firm founded in 1987 by Dorsey and Watson Wright, the firm seeks to provide investment professionals with research and tools to accumulate and preserve wealth effectively for their clients.

Point and figure, a form of technical market analysis first popularised by Charles Dow in the late-1800s, is central to Dorsey Wright’s investment philosophy. The firm provides daily market commentary and an online database to major broker-dealers as well hundreds of regional and independent investment firms. Dorsey Wright Money Management has implemented the tenets of this methodology for its own clients over the past 10 years.

PowerShares Capital Management, a subsidiary of Invesco, has built up a family of more than 100 US and international ETFs that seek to outperform traditional benchmark indices. The firm manages assets exceeding USD35bn.

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