Invesco PowerShares Announces Changes to ETF Family
Plans to change the indexes and providers of ten ETFs
Management fees reduced on four ETFs
Four ETFs to receive new product tickers
DOWNERS GROVE, Ill., March 13, 2015 /PRNewswire/ -- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs) with more than $100 billion in franchise assets, today announced changes to its product line.
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 and index providers of ten ETFs. In addition, four ETFs will see a reduction in management fees* and four ETFs will receive new product tickers.
"Invesco PowerShares has always focused on providing investors with the most effective and innovative ETF solutions to meet their financial goals," said Dan Draper, Invesco PowerShares Managing Director of Global ETFs. "As such, we are constantly evaluating our offerings to ensure they are best suited to help investors meet their investment objectives. The changes we are implementing will put our investors in a better position to meet their portfolio needs and long-term goals."
On March 12, 2015, the Board of Trustees approved changes to the underlying indexes and providers, pricing, investment policy and strategy changes for the ETFs indicated in the table below. These changes are anticipated to go into effect at the close of markets on May 22, 2015.
For additional information, shareholders of the ETFs which are scheduled for changes may call Invesco PowerShares at 800-983-0903.
Current Fund Name |
Current Index Name |
Proposed Index |
Proposed Fund Name (New Ticker) |
Management Fee Reduction* |
PXLC - PowerShares |
RAFI Fundamental |
Russell Top 200 Equal |
PowerShares Russell Top 200 |
0.29% to 0.25% |
PXLV - PowerShares |
RAFI Fundamental |
Russell Top 200 Pure |
PowerShares Russell Top 200 |
N/A |
PXLG - PowerShares |
RAFI Fundamental |
Russell Top 200 Pure |
PowerShares Russell Top 200 |
N/A |
PXMC - PowerShares |
RAFI Fundamental Mid |
Russell Midcap Equal |
PowerShares Russell Midcap |
0.29% to 0.25% |
PXMG - PowerShares |
RAFI Fundamental Mid |
Russell Midcap Pure |
PowerShares Russell Midcap |
N/A |
PXMV - PowerShares |
RAFI Fundamental Mid |
Russell Midcap Pure |
PowerShares Russell Midcap |
N/A |
PXSC - PowerShares |
RAFI Fundamental |
Russell 2000 Equal |
PowerShares Russell 2000 Equal |
0.29% to 0.25% |
PXSV - PowerShares |
RAFI Fundamental |
Russell 2000 Pure |
PowerShares Russell 2000 Pure |
N/A |
PXSG - PowerShares |
RAFI Fundamental |
Russell 2000 Pure |
PowerShares Russell 2000 Pure |
N/A |
NYCC - PowerShares NYSE Century Portfolio |
NYSE Century |
Dow Jones U.S. |
PowerShares Contrarian |
0.50% to 0.35% |
About Invesco PowerShares Capital Management LLC and Invesco, Ltd.
Invesco PowerShares Capital Management LLC is leading the Intelligent ETF Revolution® through its family of more than 140 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $100 billion as of December 31, 2014 PowerShares ETFs trade on both US stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Important Risk Information
There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Funds' return may not match the return of the Underlying Index.
Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
The Funds are considered non-diversified and may be subject to greater risks than a diversified fund.
Note: Not all products are available through all firms.
Not FDIC Insured | May Lose Value | No Bank Guarantee
*Each Portfolio's management fee will be reduced. Please see prospectus supplement for additional information.
Shares are not individually redeemable and owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Units only, typically consisting of aggregations of 50,000, 75,000, 100,000 or 200,000 shares.
Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Invesco PowerShares Capital Management LLC and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
An investor should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For this and more complete information about the Funds call 800 983 0903 or visit invescopowershares.com for a prospectus. Please read the prospectus carefully before investing.
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SOURCE Invesco PowerShares Capital Management LLC
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