Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), announced today the anticipated listing of a NASDAQ-100 BuyWrite portfolio and a Nasdaq Internet portfolio. Both new ETFs are expected to begin trading June 12, 2008, on the NASDAQ Stock Market.
The anticipated ticker symbols and ETF portfolio names follow:
“The PowerShares NASDAQ-100 BuyWrite Portfolio provides a convenient, lower cost way for investors to access a covered call strategy on the 100 largest non-financial companies listed on the NASDAQ,” said Bruce Bond, president and CEO of Invesco PowerShares. “Investors may use this product to complement the PowerShares QQQ™ in their portfolios.
“Additionally, the PowerShares Nasdaq Internet Portfolio represents one of the broadest ETF internet funds available to investors, and delivers the added benefits inherent to the ETF structure.”
The PowerShares NASDAQ-100 BuyWrite Portfolio (PQBW) is based on the CBOE NASDAQ-100 BuyWrite Index™. The Index measures the total rate of return of an NASDAQ-100® covered call strategy, which consists of holding a portfolio indexed to the NASDAQ-100, and selling a succession of one-month at-the-money NASDAQ-100® call options. The CBOE NASDAQ-100 BuyWrite Index™ assumes that call options are written on the third Friday of each month, held until their expiration, and exercised options are settled in cash.
The PowerShares Nasdaq Internet Portfolio (PNQI) is based on the NASDAQ Internet Index. The Index is designed to track the performance of the largest and most liquid U.S.-listed companies engaged in internet-related businesses. The modified market capitalization index is rebalanced quarterly, and includes internet software and services companies that are involved in internet-related services, internet software, website services and e-commerce.
Invesco PowerShares is leading the intelligent ETF revolution through its family of more than 100 domestic, international and active exchange-traded funds. With assets under management as of April 30, 2008 of $13.86 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.