Invesco PowerShares Announces Changes To ETF Family

invescoInvesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs) with more than $97 billion in franchise assets, announced changes to its product line.

Reflective of its ongoing commitment to place investors’ interests first, Invesco PowerShares announced that it plans to change the underlying indexes and names of ten ETFs. In addition, it also announced plans to close four ETFs, which together represent less than 1% of Invesco PowerShares’ total assets.

“We regularly evaluate our ETF product offerings using numerous factors including investment results, how investors may utilize them in portfolios and length of time in the market, among others,” said Dan Draper, Invesco PowerShares managing director of global ETFs. “For more than a decade, our focus has been to ensure that we provide innovative ETFs that can help investors meet their financial goals amidst a changing investment landscape. We believe these changes will provide investors a unique set of investment opportunities and position our family of ETFs for continued growth.”

On December 17th, the Board of Trustees approved name, investment objective, underlying index, and investment policy and strategy changes for the following ETFs. These changes are scheduled to take effect on February 19, 2014:

Current Portfolio Name New Portfolio Name
PWO DWAQ PowerShares Dynamic OTC Portfolio PowerShares DWA NASDAQ Momentum Portfolio
PYZ N/A PowerShares Dynamic Basic Materials Sector Portfolio PowerShares DWA Basic Materials Momentum Portfolio
PEZ N/A PowerShares Dynamic Consumer Discretionary Sector Portfolio PowerShares DWA Consumer Cyclicals Momentum Portfolio
PSL N/A PowerShares Dynamic Consumer Staples Sector Portfolio PowerShares DWA Consumer Staples Momentum Portfolio
PXI N/A PowerShares Dynamic Energy Sector Portfolio PowerShares DWA Energy Momentum Portfolio
PFI N/A PowerShares Dynamic Financial Sector Portfolio PowerShares DWA Financial Momentum Portfolio
PTH N/A PowerShares Dynamic Healthcare Sector Portfolio PowerShares DWA Healthcare Momentum Portfolio
PRN N/A PowerShares Dynamic Industrials Sector Portfolio PowerShares DWA Industrials Momentum Portfolio
PTF N/A PowerShares Dynamic Technology Sector Portfolio PowerShares DWA Technology Momentum Portfolio
PUI N/A PowerShares Dynamic Utilities Portfolio PowerShares DWA Utilities Momentum Portfolio

“As with our existing PowerShares DWA Momentum ETF lineup, these portfolios will be based on momentum strategies as measured by Dorsey Wright’s definition of relative strength characteristics, which can be a powerful tool for stock selection,” said Lorraine Wang, Invesco PowerShares global head of ETF products and research. “The momentum indexes were developed by Dorsey Wright who we believe remains a leader in relative strength investing.”

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