Invesco PowerShares details new changes for three municipal bond ETFs

By Tali Rackner

Norfolk, Va., July 8 – Invesco PowerShares Capital Management LLC changed the name, underlying index, investment objective, certain fundamental and non-fundamental investment policies and principal investment strategies changed for its three PowerShares municipal bond exchange traded funds, according to a press release.

Effective Tuesday, the PowerShares National AMT-Free Municipal Bond Portfolio, previously the PowerShares Insured National Municipal Bond Portfolio, will track the BofA ML National Long-Term Core Plus Municipal Securities index, previously named the BofA ML National Insured Long-Term Core Plus Municipal Securities index.

The PowerShares New York AMT-Free Municipal Bond Portfolio, formerly PowerShares Insured New York Municipal Bond Portfolio, will track the BofA ML New York Long-Term Core Plus Municipal Securities index, previously named the BofA ML New York Insured Long-Term Core Plus Municipal Securities index.

Finally, PowerShares California AMT-Free Municipal Bond Portfolio, previously the PowerShares Insured California Municipal Bond Portfolio, will track the BofA ML California Long-Term Core Plus Municipal Securities index, formerly the BofA ML California Insured Long-Term Core Plus Municipal Securities index.

Merrill Lynch, Pierce, Fenner & Smith Inc. (BofA Merrill Lynch) will remain the index provider for each Fund.

Invesco PowerShares offers more than 140 ETFs and is based in Wheaton, Ill.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.