PowerShares Active Mega Cap Fund drops portfolio manager Coutant, taps Abata as new co-manager

By Marisa Wong

Madison, Wis., Oct. 19 - Ralph Coutant will no longer be a portfolio manager of PowerShares Active Mega Cap Fund, effective Nov. 15, according to a filing with the Securities and Exchange Commission. On Nov. 15, Mike Abata will begin as a co-portfolio manager.

Invesco PowerShares Capital Management LLC is the investment adviser for the PowerShares fund. Invesco Advisers, Inc. is the sub-adviser.

The other portfolio managers of Invesco Advisers who manage the PowerShares fund are Glen E. Murphy, Anthony J. Munchak, Francis M. Orlando and Andrew Waisburd.

Abata has been associated with Invesco and its affiliates since 2011. Previously, he was a vice president at State Street Global Markets. Prior to that he was a consultant at Hermes Fund Managers. Before 2008 he was a portfolio manager at Putnam Investment Management.

The PowerShares fund invests at least 80% of its assets in a portfolio of equity securities of mega-capitalization companies. The fund considers a company to be a mega-capitalization company if it has a market capitalization greater than or equal to that of the smallest company in the Russell Top 200 index.

The fund is part of Wheaton, Ill.-based PowerShares Actively Managed Exchange-Traded Fund Trust.

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