Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced the listing of the PowerShares International BuyBack AchieversTM Portfolio (IPKW) on the NASDAQ Stock Market, LLC. IPKW provides investors efficient access to a portfolio of international companies classified as International BuyBack AchieversTM.
BuyBack Achievers are companies that have effected a net reduction of 5% or more of their outstanding shares in their most recent fiscal year, and have met additional criteria in accordance with the guidelines and mandated procedures of the NASDAQ OMX Group, Inc., the underlying index provider.
“The buyback methodology is generally more tax-efficient relative to dividend payments and may provide investors enhanced total shareholder return,” said Lorraine Wang, Invesco PowerShares global head of ETF products and research. “The merits of the BuyBack Achievers methodology, and more broadly smart beta, are demonstrated in our US-focused flagship product PowerShares BuyBack Achievers (PKW), so we are excited to provide investors a way to participate in global opportunities as well.”
PowerShares International BuyBack Achievers Portfolio (IPKW) is based on the NASDAQ International BuyBack AchieversTM Index. The Fund includes common stocks of foreign companies classified as International BuyBack Achievers in accordance with the NASDAQ OMX Group, Inc. proprietary selection methodology. The Fund will generally invest in all of the securities comprising the Underlying Index, and is rebalanced quarterly in January, April, July and October. The Fund has an expense ratio of 0.55%.
To learn more about the PowerShares International BuyBack Achievers Portfolio (IPKW), or Smart Beta investing, please visit: http://www.invescopowershares.com.