PowerShares Fundamental Emerging Markets Local Debt Portfolio launches

By Toni Weeks

San Diego, Dec. 31 - PowerShares Exchange-Traded Fund Trust II announced it has launched its PowerShares Fundamental Emerging Markets Local Debt Portfolio.

According to an N-1A filing with the Securities and Exchange Commission, the fund seeks investment results that generally correspond before fees and expenses to the price and yield of the Citi RAFI Sovereign Emerging Markets Local Currency Bond Index Master.

The fund will generally invest at least 80% of its total assets in bonds that comprise the underlying index, which is comprised of bonds issued by the national governments of 14 emerging markets.

Peter Hubbard, Philip Fang, Jeffrey W. Kernagis and Gary Jones are the portfolio managers.

Total annual fund operating expenses are 0.5%, which is comprised solely of a management fee.

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

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