Bringing you live news and features since 2006 

Invesco PowerShares to list MENA Frontier Countries ETF on Nasdaq

RELATED TOPICS​

Exchange-traded fund provider Invesco PowerShares has announced plans to launch trading in the PowerShares MENA Frontier Counties Portfolio, designed to provide access to certain equity ma

Exchange-traded fund provider Invesco PowerShares has announced plans to launch trading in the PowerShares MENA Frontier Counties Portfolio, designed to provide access to certain equity markets in the Middle East and North Africa, on the Nasdaq Stock Market on July 9.

‘The PowerShares MENA Frontier Countries Portfolio replicates an index that takes into account foreign ownership limitations encountered when investing in certain countries in the Middle East and North Africa,’ says Bruce Bond, president and chief executive of Invesco PowerShares. ‘We believe it represents a compelling new vehicle for investors to access equity markets of the region.’

The PowerShares MENA Frontier Countries Portfolio is based on the Nasdaq OMX Middle East North Africa Index, which is designed to measure the performance of the largest and most liquid securities of companies domiciled in Middle Eastern and North African countries that have smaller economies or less developed capital markets than traditional emerging markets.

The index currently includes securities domiciled in Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain and Qatar as well as Dubai and Abu Dhabi from the United Arab Emirates.

Many of these frontier countries impose restrictions on foreign investments, including ownership limitations, which may vary from issuer to issuer. At each quarterly rebalancing and reconstitution of the index, Nasdaq OMX Group, the index provider, takes into account current foreign ownership limitations and locked-in stock. When a security in the index reaches its foreign ownership limit, it is removed from the underlying index.

Invesco PowerShares offers more than 100 US and international index-based and actively managed exchange-traded funds with assets under management of USD13.86bn at the end of April.

Latest News

News came last night from the US that the SEC has approved CBOE’s proposal to list and trade VanEck’s spot..
Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..

Related Articles

Timothy Rotolo, Range Funds
In 2023, Timothy Rotolo launched his business, Range Fund Holdings, the parent company for Range Indices and Range ETFs, followed...
Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by