Invesco Canada Ltd has introduced the latest addition to its PowerShares Funds family, PowerShares QQQ Class, giving investors exposure to the US-listed PowerShares QQQ (NASDAQ: QQQ), one of the world’s largest and most actively traded ETFs (exchange-traded funds). This ETF provides access to the 100 largest US and international non-financial companies listed on The NASDAQ Stock Market based on market capitalisation.
"Through our new fund, investors can complement and diversify their portfolios with sector exposure that differs from that of the S&P/TSX Composite Index, which is heavily concentrated in the financials, materials and energy sectors," says Michael Cooke, Head of Distribution, PowerShares Canada.
Additional benefits of PowerShares QQQ Class include: US-dollar hedging that lets investors be confident that their investments won’t be affected by changes in the value of the Canadian dollar relative to the US dollar, as the underlying ETF hedges substantially all of its US-dollar exposure; and greater tax efficiency because the Fund is offered in the corporate structure, allowing for switches between funds in the same corporation on a tax-deferred basis.
