Bringing you live news and features since 2006 

PowerShares Canada to increase NAV on three ETFs

RELATED TOPICS​

PowerShares Canada is to increase the net asset value (NAV) of three TSX-listed PowerShares exchange-traded funds (ETFs) calculated after close of business on 20 February, 2015.

PowerShares Fundamental High Yield Corporate Bond (CAD Hedged) Index ETF [TSX: PFH] and PowerShares Senior Loan (CAD Hedged) Index ETF [TSX: BKL] invest in one or more US Regulated Investment Companies (RICs) that earn and distribute qualified interest-related dividends.

The NAV increases are a result of the American Taxpayer Relief Act of 2012, which exempts qualifying income distributed by the relevant RICs to foreign entities, including the ETFs, from US withholding taxes.

Recognising the value this exemption provides investors, PowerShares Canada has reclaimed that portion of the taxes withheld in 2014.

The NAV and NAV per unit of each of the ETFs, calculated after the close of business on February 20, 2015, will increase to reflect their respective tax reclaim amounts.

The impact to NAV will be as follows:
PowerShares Fundamental High Yield Corporate Bond (CAD Hedged) Index ETF – USD0.18712 per share
PowerShares Senior Loan (CAD Hedged) Index ETF – USD0.17607 per share
PowerShares Tactical Bond ETF – USD0.00980 per share

Latest News

21Shares AG has announced that the firm has added staking to the 21Shares Cosmos ETP (ATOM) and the 21Shares Avalanche..
EFAMA has published its latest Monthly Statistical Release for May 2024...
Solactive writes that it has expanded its collaboration with Kiwoom Asset Management by providing the underlying indices to the KIWOOM..
MSCI has announced the launch of MSCI Private Capital Indexes, writing that with growing investor interest in private markets, high..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by