Invesco PowerShares launches two ETFs on Toronto Stock Exchange

By Toni Weeks

San Diego, June 15 - Invesco PowerShares Capital Management LLC announced the arrival of two PowerShares exchange-traded funds to the Toronto Stock Exchange.

The PowerShares 1-5 Year Laddered Investment-Grade Corporate Bond Index ETF seeks to replicate the performance of the DEX Investment-Grade 1-5 Year Laddered Corporate Bond index, which consists of Canadian investment-grade corporate bonds rated BBB or higher in the composite PC-Bond rating and is divided into five buckets with staggered maturity levels of one to five years. Its ticker symbol is "PSB."

The PowerShares Ultra DLUX Long-Term Government Bond Index ETF seeks to replicate the performance of the DEX Ultra DLUX Long Government Bond index, a market capitalization-weighted index consisting primarily of Canadian federal and provincial government and supranational entity bonds denominated in Canadian dollars that have a maturity of more than 10 years and a rating of at least A in the composite PC-Bond rating. Its ticker symbol is "PGL."

Both ETFs have a monthly income distribution frequency and carry management fees of 0.25%, according to a press release.

The new ETFs are the company's first launch on a Canadian exchange. Both ETFs have closed the initial offering of their units and began trading on Wednesday.

Invesco PowerShares Capital Management is part of Invesco Ltd., an independent investment management company based in Atlanta.

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