Globally recognized ETF family establishes footprint on TSX
TORONTO, June 15, 2011 /CNW/ - Invesco is extremely pleased to introduce
two PowerShares exchange-traded funds (ETFs) listed on Toronto Stock
Exchange (TSX), the company's first-ever ETF launch on a Canadian
Part of the Invesco family and recognized for its strong record of
innovation, Invesco PowerShares is the world's fourth-largest ETF
provider with US$61 billion in sponsored assets (as at March 31, 2011).
This ground-breaking launch represents another significant expansion
into the ETF market for Invesco, which has a proven history of creating
products designed to meet the diverse needs of investors worldwide.
"The arrival of PowerShares ETFs on TSX establishes an exciting new
footprint in the Canadian marketplace, expanding the range of
next-generation ETF solutions available to investors in Canada," said
Ben Fulton, Invesco PowerShares managing director of global ETFs. "The
PowerShares brand began with innovation, and we remain a highly
innovative firm looking to grow and expand to markets around the
With PowerShares ETFs now listed on TSX, "Canadian investors have even
greater access to the best that the world of Invesco has to offer,"
said Peter Intraligi, President and Chief Operating Officer of
Invesco's operations in Canada.
The following two ETFs have closed the initial offering of their units
and will begin trading on TSX when the market opens today:
PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF
(PSB), with a management fee of 0.25%, seeks to replicate, before fees and
expenses, the performance of the DEX Investment Grade 1-5 Year Laddered
Corporate Bond Index, which is comprised only of Canadian
investment-grade corporate bonds rated "BBB" or higher in the composite
PC-Bond rating, and divided into five buckets with staggered maturity
levels from one to five years. PSB's income distribution frequency is
PowerShares Ultra DLUX Long Term Government Bond Index ETF (PGL), with a management fee of 0.25%, seeks to replicate, before fees and
expenses, the performance of the DEX Ultra DLUX Long Government Bond
Index, a market-capitalization-weighted index consisting primarily of
Canadian federal and provincial government and supranational entity
bonds denominated in Canadian dollars with a remaining effective term
to maturity of greater than 10 years and rated "A" or higher in the
composite PC-Bond rating. PGL's income distribution frequency is
"PowerShares ETFs represent a low-cost complement to actively managed
mutual funds that can help investors build better portfolios," said
Michael Cooke, Vice President, PowerShares Canada.
To learn more about PowerShares ETFs, please visit www.powershares.ca.
Invesco PowerShares Capital Management LLC
With sponsored assets of US$61 billion (as at March 31, 2011), Invesco
PowerShares Capital Management LLC is leading the Intelligent ETF
Revolution® through its family of more than 120 domestic and international ETFs.
PowerShares ETFs seek to outperform traditional benchmark indexes while
providing advisors and investors access to an innovative array of
focused investment opportunities.
Invesco PowerShares is part of Invesco Ltd., a leading independent
global investment manager 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 retail,
institutional and high-net-worth clients around the world. Operating in
more than 20 countries, the company is listed on the New York Stock
Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
About the index provider
As a business unit of TSX Inc., PC-Bond provides access to analytics,
data and indices covering every asset class of the Canadian
fixed-income marketplace. PC-Bond has been the standard for the
Canadian fixed-income industry for over 20 years and continues to
broaden its coverage and offerings to clients through new development,
upgrades and pricing methodologies. To measure performance in the
Canadian domestic bond market, PC-Bond* offers over 600 indices and
Commissions, management fees and expenses may all be associated with
investments in exchange-traded funds. Exchange-traded funds are not
guaranteed, their values change frequently and past performance may not
be repeated. Please read the prospectus before investing. Copies are
available from Invesco Trimark at www.powershares.ca.
There are risks involved with investing in ETFs, including the risk of
error in replicating the underlying Index. Please read the prospectus
for a complete description of risks relevant to the ETF. Ordinary
brokerage commissions apply to purchases and sales of ETF units. ETFs
are not diversified investments.
Each PowerShares ETF seeks to replicate, before fees and expenses, the
performance of the applicable Index and is not actively managed. This
means that the Sub-advisor will not attempt to take defensive positions
in declining markets but rather continue to hold each of the securities
in the Index regardless of whether the financial condition of one or
more issuers of securities in the Index deteriorates.
This piece was produced by Invesco Trimark.
DEX Investment Grade 1-5 Year Laddered Corporate Bond Index and DEX
Ultra DLUX Long Government Bond Index are trademarks of PC-BOND. These
marks have been sublicensed for use for certain purposes to Invesco
Trimark Ltd. by PC-Bond, a business unit of TSX Inc. PowerShares 1-5
Year Laddered Investment Grade Corporate Bond Index ETF and PowerShares
Ultra DLUX Long Term Government Bond Index ETF (the "Products") are not
sponsored, endorsed, sold or promoted by PC-BOND and/or TSX Inc. and
third party data suppliers (collectively, "PC-Bond Group"). PC-Bond
Group make no representation, warranty, or condition regarding the
advisability of investing in the Products.
Invesco and all associated trademarks are trademarks of Invesco Holding
Company Limited, used under licence. PowerShares and all associated
trademarks are trademarks of Invesco PowerShares Capital Management
LLC, used under licence. Trimark and all associated trademarks are
trademarks of Invesco Trimark Ltd.
© Invesco Trimark Ltd., 2011
SOURCE Invesco Trimark Ltd.
For further information:
Vice President, Corporate Affairs