Exchange-traded fund provider Invesco PowerShares Capital Management has announced plans to expand its range of actively-managed ETFs with the listing of a US real estate fund on NYSE Arca
Exchange-traded fund provider Invesco PowerShares Capital Management has announced plans to expand its range of actively-managed ETFs with the listing of a US real estate fund on NYSE Arca.
‘We believe combining well-established active managers with the benefits of the ETF structure creates a compelling new investment vehicle,’ says Invesco PowerShares president and chief executive Bruce Bond.
‘Invesco PowerShares is committed to delivering value and market-leading ideas to investors as we expand our ETF family with the anticipated listing of an actively managed US real estate fund.’
The PowerShares Active U.S. Real Estate Fund seeks to provide a high total return by investing in publicly-traded US real estate companies, primarily equity real estate investment trusts, selected using a proprietary model developed by Invesco Institutional.
The selection methodology seeks to outperform its benchmark, the FTSE Nareit Equity Reits Index, using quantitative and statistical metrics to identify attractively-priced securities and manage risk. The fund’s portfolio holdings will be disclosed daily on its web site.
Joe V. Rodriguez Jr, the lead manager overseeing the fund’s investment management team at Invesco Institutional, is the head of real estate securities for Invesco Real Estate, and has 25 years of industry experience. The fund’s expense ratio is anticipated to be 0.80 per cent.
Invesco PowerShares manages more than 140 US and international index-based and actively managed exchange-traded funds, and had assets under management of some USD12.21bn at the end of September.