PowerShares Convertible Securities Portfolio to liquidate Feb. 26

By Toni Weeks

San Diego, Dec. 18 - The board of trustees of the PowerShares Exchange-Traded Fund Trust II have approved the liquidation of the PowerShares Converible Securities Portfolio, according to a 497 filing with the Securities and Exchange Commission.

The liquidation is expected to commence Feb. 26, which is the last day of trading for the fund (NYSE Arca: CVRT).

Shareholders who do not sell their fund shares before the market close on Feb. 26 will receive an amount in cash equal to the net asset value of their shares by March 7.

Wheaton, Ill.-based Invesco PowerShares Capital Management LLC is the investment adviser to the fund.

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