Bruce Bond and his team at Invesco PowerShares will launch the PowerShares Global Biotech Portfolio on September 18 at the Nasdaq Stock Market. The ETF comes with an expense ratio of 75 bps.
Company Press Release
CHICAGO – September 3, 2008 – Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), announced today the anticipated listing of the PowerShares Global Biotech Portfolio Sept. 18, 2008, on the Nasdaq Stock Market.
· PBTQ – PowerShares Global Biotech Portfolio
"We believe the PowerShares Global Biotech Portfolio will provide investors transparent, tax-efficient access to the largest and most advanced biotechnology companies in the world using the benefit-rich ETF structure,” said Bruce Bond, president and CEO of Invesco PowerShares. "PBTQ should be a great addition to our growing suite of global ETF portfolios."
The PowerShares Global Biotech Portfolio (PBTQ) is based on the NASDAQ OMX Global Biotech IndexSM. The Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the biotechnology industry. The Index is rebalanced quarterly using a modified market capitalization-weighting methodology.
Invesco PowerShares currently offers 127 portfolios, one of the largest, most diverse families of ETFs available to U.S. investors today.
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. 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.
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