Invesco PowerShares Capital Management is making a number of changes to its exchange traded fund product lineup including changing the underlying indexes of certain ETFs and closing others.
As part of the firm's commitment to aligning its fund offerings to meet an evolving investment landscape, Invesco PowerShares announced it will change the underlying indexes, but not the index provider for four ETFs. Two of these affected ETFs will also receive new product tickers. There will be no management fee changes to the affected ETFs.
The ETFs in question are: the PowerShares S&P Emerging Markets High Beta Portfolio which will now emulate the S&P Momentum Emerging Plus LargeMidCap Index ; the PowerShares S&P International Developed High Beta Portfolio, which is now based on the S&P Developed ex US & South Korea LargeMidCap Index; the PowerShares S&P International Developed High Quality Portfolio, which seeks to emulate the S&P Quality Developed ex US LargeMidCap Index; and the PowerShares S&P 500 High Quality Portfolio, which is now based on the S&P 500 Quality Index
Four other ETFs are scheduled to close on Monday, 21 March, 2016, with the last day of trading scheduled for Friday, 18 March, 2016. These closures may enable Invesco PowerShares to better align its product line with the changing investment landscape and allow the firm to continue to introduce value-added ETF solutions that meet investor needs going forward.
The ETFs scheduled to close are: the PowerShares KBW Capital Markets Portfolio; the PowerShares KBW Insurance Portfolio; the PowerShares China A-Share Portfolio; and the PowerShares Fundamental Emerging Markets Local Debt Portfolio.
"Invesco PowerShares is committed to delivering innovative ETF solutions that are aligned with today's investment landscape," says Dan Draper, Managing Director of Invesco PowerShares. "These changes to our ETF offerings may help our clients capture unique growth opportunities as market conditions evolve."
Catella, Founder & CEO of COIMA SGR.
