Invesco PowerShares to list Chinese Yuan Dim Sum Bond Portfolio Friday

By Susanna Moon

Chicago, Sept. 22 - Invesco PowerShares Capital Management LLC said it expects the PowerShares Chinese Yuan Dim Sum Bond Portfolio to begin trading Friday on NYSE Arca under the symbol "DSUM."

The fund will invest at least 90% of its total assets in Chinese yuan-denominated bonds that comprise the Citigroup Dim Sum (Offshore CNY) Bond index.

The index measures the performance of Chinese yuan-denominated dim sum bonds that are issued and settled outside mainland China. The index includes fixed-rate securities issued by governments, agencies, supranationals and corporations that have a minimum maturity of one year and a minimum size outstanding of RMB 1 billion. The index is managed by Citigroup Index LLC and is reconstituted on a monthly basis.

The fund will have an expense ratio of 0.45% and is expected to issue monthly distributions.

The dim sum bond market was introduced in 2007 when the People's Republic of China-incorporated financial institutions were first allowed to issue yuan-denominated bonds offshore, according to a fund press release.

Invesco is an investment manager based in Chicago.

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