DOWNERS GROVE, Ill., May 26, 2015 /PRNewswire/ -- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs) with more than $100 billion in franchise assets, announced in March changes to its product line, which took effect at market close on May 22, 2015.
Putting into effect the changes announced on March 13, 2015, nine ETFs from PowerShares' Fundamental Pure Portfolio lineup now track corresponding Russell indexes. The PowerShares NYSE Century Portfolio is now following the Dow Jones U.S. Contrarian Opportunities Index. Each portfolio has a new name, additionally, four ETFs saw a reduction in management fees* and four ETFs received new product tickers.
"Invesco PowerShares is committed to delivering innovative ETF solutions that are aligned with today's investment landscape," said 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."
On March 12, 2015, the Board of Trustees approved changes to the underlying indexes and providers, management fee, expense cap, investment policy and strategy changes for the ETFs indicated in the table below. These changes went into effect at market close on May 22, 2015.
For additional information, shareholders of the ETFs may call Invesco PowerShares at 800-983-0903.
Previous Fund Name
|
Previous Index
Name
|
New Index
|
New Fund Name and Ticker
|
Management Fee
Reduction
|
|
PXLC - PowerShares
Fundamental Pure
Large Core Portfolio
|
RAFI Fundamental
Large Core Index
|
Russell Top 200 Equal
Weight Index
|
PowerShares Russell Top 200
Equal Weight Portfolio (EQWL)
|
0.29% to 0.25%*
|
|
PXLV - PowerShares Fundamental Pure Large Value Portfolio
|
RAFI Fundamental
Large Value Index
|
Russell Top 200 Pure
Value Index
|
PowerShares Russell Top 200
Pure Value Portfolio (PXLV)
|
N/A
|
|
PXLG - PowerShares
Fundamental Pure
Large Growth Portfolio
|
RAFI Fundamental
Large Growth Index
|
Russell Top 200 Pure
Growth Index
|
PowerShares Russell Top 200
Pure Growth Portfolio (PXLG)
|
N/A
|
|
PXMC - PowerShares Fundamental Pure Mid Core Portfolio
|
RAFI Fundamental
Mid Core Index
|
Russell Midcap Equal
Weight Index
|
PowerShares Russell Midcap
Equal Weight Portfolio (EQWM)
|
0.29% to 0.25%*
|
|
PXMG - PowerShares Fundamental Pure Mid Growth Portfolio
|
RAFI Fundamental
Mid Growth Index
|
Russell Midcap Pure
Growth Index
|
PowerShares Russell Midcap
Pure Growth Portfolio (PXMG)
|
N/A
|
|
PXMV - PowerShares Fundamental Pure Mid Value Portfolio
|
RAFI Fundamental
Mid Value Index
|
Russell Midcap Pure
Value Index
|
PowerShares Russell Midcap
Pure Value Portfolio (PXMV)
|
N/A
|
|
PXSC - PowerShares Fundamental Pure Small Core Portfolio
|
RAFI Fundamental
Small Core Index
|
Russell 2000 Equal
Weight Index
|
PowerShares Russell 2000
Equal Weight Portfolio (EQWS)
|
0.29% to 0.25%*
|
|
PXSV - PowerShares Fundamental Pure Small Value Portfolio
|
RAFI Fundamental
Small Value Index
|
Russell 2000 Pure
Value Index
|
PowerShares Russell 2000
Pure Value Portfolio (PXSV)
|
N/A
|
|
PXSG - PowerShares Fundamental Pure Small Growth Portfolio
|
RAFI Fundamental
Small Growth Index
|
Russell 2000 Pure
Growth Index
|
PowerShares Russell 2000
Pure Growth Portfolio (PXSG)
|
N/A
|
|
NYCC - PowerShares NYSE Century Portfolio
|
NYSE Century IndexSM
|
Dow Jones U.S.
Contrarian
Opportunities Index
|
PowerShares
Contrarian
Opportunities Portfolio (CNTR)
|
0.50% to 0.35 %*
|
* Portfolio's management fee was reduced. Please see prospectus supplement for additional information.
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 March 31, 2015, 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. The Funds are subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
Investments focused in a particular industry are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.
A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets.
Growth stocks tend to be more sensitive to changes in their earnings and can be more volatile.
Note: Not all products are available through all firms.
Not FDIC Insured | May Lose Value | No Bank Guarantee
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