Invesco PowerShares is to cross list of a number of its exchange-traded funds on exchanges in Europe, including the PowerShares FTSE RAFI All-World 3000 UCITS ETF and the PowerShares FTSE RAFI US 1000 UCITS ETF.
This follows a number of recent senior hires by Invesco PowerShares and is part of an ongoing programme to expand its offering in Europe.
The ETFs invest in either one or a range of equity markets from European to US and Asian and enable investors to gain exposure to their chosen market(s) through one investment.
The ETFs listed and exchanges are as follows:
The PowerShares FTSE RAFI All-World 3000 UCITS ETF is to list on the Six Swiss Exchange, Deutsche Borse Extra, Euronext Paris and Borsa Italiana.
The PowerShares FTSE RAFI US 1000 UCITS ETF, PowerShares FTSE RAFI Asia Pacific Ex-Japan UCITS ETF, PowerShares FTSE RAFI Europe Mid-Small UCITS ETF, PowerShares FTSE RAFI Europe UCITS ETF, and PowerShares Global Listed Private Equity UCITS ETF, all of which are already listed on the Deutsche Borse Extra, Euronext Paris and Borsa Italiana are to list additionally on the SIX Swiss Exchange.
The PowerShares Global Agriculture UCITS ETF, which is already listed on the SIX Swiss Exchange, Euronext Paris and Borsa Italian, is to list additionally on Deutsche Borse Xetra.
The underlying index of the PowerShares FTSE RAFI All-World 3000 UCITS ETF has outperformed both the FTSE All World Series index and the MSCI All Country World index over the full market cycle (five-year period up to end of June 2014).
The FTSE RAFI All-World 3000 Index is designed to track the performance of Research Affiliates’ index of just over 3000 developed and emerging market equities selected according to four fundamental measures of size (sales, cashflow, book value and dividends) and weighted by their fundamental scores.
Bryon Lake, head of Invesco PowerShares – EMEA, says: “The ETF market and in particular the demand for alternatively-weighted ETFs is expected to increase in Europe, and we want to ensure we take advantage of this growth. The cross-listings of these products are part of our strategy to expand our offering, allowing us to effectively provide access to investors in these core regions.”
Another ETF listed across several exchanges in Europe is the PowerShares FTSE RAFI US 1000 UCITS ETF, designed to track the performance of Research Affiliates’ index of slightly over 1,000 large-cap US equities, selected according to the same four fundamental measures as the FTSE RAFI All World 3000 Index. The ETF has outperformed both the S&P 500 index and Russell 1000 index over the full market cycle (five-year period up to the end of June 20143).
Lake says: “Some of the ETFs that have been made available on additional exchanges have recently benefitted from strong investor appetite, especially those looking for alternative products to invest in US equities with an established track record. The PowerShares FTSE RAFI US 1000 UCITS ETF is a good example. The ETF has gone from managing just over USD80m in assets as at 31 May 2013, to managing assets now in excess of USD240million.”