Invesco PowerShares Capital Management will lower expense ratios for the 11 ETFs that comprise its domestic FTSE RAFI lineup to 39 basis points. Currently, expense ratios for those products are capped at 60 bps. The fee cut will take effect November 1.
Company Press Release
CHICAGO – October 24, 2008 – Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs) announced that expense ratios for its eleven domestic PowerShares FTSE RAFI ETF portfolios will be lowered to 39 basis points effective November 1, 2008.
The names and ticker symbols for the PowerShares FTSE RAFI ETFs are listed below:
"Invesco PowerShares pioneered fundamentals weighted ETFs introducing the first broad based US 1000 portfolio in 2005, followed by a US 1500 and sector portfolios in 2006," said Bruce Bond, President and CEO of Invesco PowerShares.
The PowerShares’ Fundamentals Weighted Portfolios are based on FTSE™ RAFI® indexes, uniquely constructed using four fundamental measures to rank a company’s size: book value, cash flow, sales and dividends. The equities with the highest fundamental strength are weighted according to fundamental scores.
"The PowerShares fundamentals weighted ETFs are an important alternative to cap weighted portfolios seeking to provide investors higher returns with lower volatility over time. We are pleased to continue our industry leading role and will be lowering fees across the entire domestic FTSE RAFI lineup," continued Bruce Bond.
Invesco PowerShares is leading the intelligent ETF revolution through its family of more than 140 domestic and international index-based and actively managed exchange-traded funds. With assets under management as of September 30, 2008, of approximately $12.21 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. By delivering the combined power of its distinctive worldwide investment management capabilities, including AIM, Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco provides a comprehensive array of enduring investment solutions for retail, institutional and high-net-worth clients around the world. Operating in 20 countries, the company is currently listed on the New York Stock Exchange under the symbol “IVZ.” Additional information is available at www.invesco.com.
There are risks involved with investing in ETFs, including possible loss of money. The Fund is not actively managed and is subject to risk similar to stocks. Ordinary brokerage commissions apply.
Shares are not FDIC insured, may lose value and have no bank guarantee.
PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC. Invesco PowerShares Capital Management LLC and Invesco Aim Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd. The S-Network Emerging Infrastructure Builders IndexSM is licensed for use by Invesco PowerShares Capital Management LLC. The PowerShares Emerging Markets Infrastructure Portfolio is not sponsored, endorsed, sold or promoted by S-NET. S-NET makes no representation or warranty, express or implied, to the owners of the PowerShares Emerging Markets Infrastructure Portfolio or any member of the public regarding the advisability of investing in securities generally or in the PowerShares Emerging Markets Infrastructure Portfolio particularly or the ability of the S-Network Emerging Infrastructure Builders IndexSM to track the performance of the securities market.