CHICAGO, IL -- (Marketwire) -- 11/03/08 -- Invesco PowerShares Capital Management LLC, a
leading provider of exchange-traded funds (ETFs), announced today plans to
expand its family of actively managed ETFs with the anticipated listing of
a U.S. Real Estate Fund on the NYSE Arca in November.
The anticipated ticker symbol and fund name follows:
-- PSR - PowerShares Active U.S. Real Estate Fund
"We believe combining well established active managers with the benefits of
the ETF structure creates a compelling new investment vehicle," said Bruce
Bond, President and CEO of Invesco PowerShares. "Invesco PowerShares is
committed to delivering value and market-leading ideas to investors as we
expand our ETF family with the anticipated listing of an actively managed
U.S. real estate fund."
The PowerShares Active U.S. Real Estate Fund (PSR) seeks to provide high
total return by investing in publicly traded U.S. real estate companies
selected using a proprietary stock selection model developed by Invesco
Institutional (N.A.), Inc (Invesco Institutional). The selection
methodology seeks to outperform its benchmark, the FTSE NAREIT Equity REITs
Index, using quantitative and statistical metrics to identify attractively
priced securities and manage risk. The fund will invest primarily in equity
real estate investment trusts (REITs). The Fund's portfolio holdings will
be disclosed daily on the Fund's website.
Joe V. Rodriguez, Jr., the lead manager overseeing the Fund's investment
management team at Invesco Institutional, is the head of real estate
securities for Invesco Real Estate, and has 25 years of industry
experience. The Fund's expense ratio is anticipated to be 0.80%.*
*The expense ratio is expressed as unitary fees to cover expenses incurred
in connection with managing the portfolio.
Invesco PowerShares is leading the intelligent ETF revolution through its
family of more than 100 domestic and international index-based and actively
managed exchange-traded funds. With assets under management as of June 30,
2008, of approximately $13.95 billion, PowerShares ETFs trade on all of the
major U.S. stock exchanges that trade ETFs. For more information, please
visit us at www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global
investment management company dedicated to helping people worldwide build
their financial security.
