Invesco PowerShares Capital Management, a provider of exchange-traded funds, plans to close ten of its PowerShares ETFs.
The affected funds represent less than one per cent of Invesco PowerShares’ total assets.
"We regularly review portfolios carefully evaluating numerous factors such as investment results, length of time in the market, investor interest, and the potential for future growth," says Ben Fulton, Invesco PowerShares managing director of global ETFs. "Based on this assessment, we believe that it’s in the best interest of our investors that we refocus our resources on areas that we believe are of greater client interest."
The final day of trading on The Nasdaq Stock Market and NYSE Arca will be 14 December 2010.
The affected ETFs are:
PowerShares Dynamic Healthcare Services Portfolio
PowerShares Dynamic Telecommunications & Wireless Portfolio
PowerShares FTSE NASDAQ Small Cap Portfolio
PowerShares FTSE RAFI Europe Portfolio
PowerShares FTSE RAFI Japan Portfolio
PowerShares Global Biotech Portfolio
PowerShares Global Progressive Transportation Portfolio
PowerShares Nasdaq-100 BuyWrite Portfolio
PowerShares NXQ Portfolio
PowerShares Zacks Small Cap Portfolio