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Nasdaq buyback index launches as ETF in Europe

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The Nasdaq Global Buyback Achievers Index is serving as the basis for Invesco PowerShares' most recent exchange-traded fund launch – the PowerShares Global Buyback Achievers UCITS ETF (BUYB).

This marks the first product based on the Nasdaq Buyback Achiever Index family to launch in the UK and Europe.
 
"Smart beta indices, and products linked to them, have provided more opportunities for investors to manage risk and diversify their portfolios," says Rob Hughes, head of index services at Nasdaq. "The Buyback concept has proven successful in identifying companies that have – through the use of share buybacks – delivered increased shareholder value and outperformance over the broader market."
 
In May, Invesco PowerShares launched the international version of the index as an ETF in the US, the PowerShares Nasdaq International Buyback Achievers Index ETF (IPKW).
 
Bryon Lake, head of Invesco PowerShares – EMEA, says: "This new product offers an innovative yet simple factor-based way to invest in global equities. Through the underlying index, the PowerShares Global Buyback Achievers UCITS ETF provides access to a smart beta approach to investing in companies that return value by buying back shares. Buybacks can be more tax-efficient than dividends, and this new ETF offers a low-cost, transparent and liquid vehicle through which to access this strategy."
 
The Nasdaq Global Buyback Achievers Index is comprised of securities from the Nasdaq US Buyback Achievers Index and the Nasdaq International BuyBack Achievers Index. The Nasdaq US Buyback Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of five per cent or more in the trailing 12 months and the Nasdaq International BuyBack Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of five per cent or more in its latest fiscal year. The index began on 11 August 2014 at a base value of 1,000.00.

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