MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, May 1, 2009 Invesco PowerShares Plans to Shutter 19 ETFs Invesco PowerShares plans to fold 19 of its 135 ETFs this month. The funds headed for closure had combined assets of $122 million as of end-March, or less than 1 percent of the firm's total ETF assets of $25.8 billion. "Over the last four years, we were probably one of the most prolific sponsors of new ETFs," said Invesco PowerShares CEO Bruce Bond in an interview with The MFWire. The firm launched 115 ETFs over that period. "Considering the economy, it made sense for us to evaluate the full line of products," Bond said. "Based on a variety of factors, we decided to close certain funds that have not gained significant acceptance with investors." Even after trimming its lineup, Invesco PowerShares will still have the second largest ETF menu in the industry, he said. No additional closures are planned at this time, Bond said. The 19 funds that will close are: Printed from: MFWire.com/story.asp?s=21458 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |