PowerShares details Fundamental Emerging Markets Local Debt Portfolio

By Toni Weeks

San Luis Obispo, Calif., May 2 - PowerShares Exchange-Traded Fund Trust II announced details for its PowerShares Fundamental Emerging Markets Local Debt Portfolio in 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 Bonds Sovereign Emerging Markets Extended Local Currency index.

The fund will generally invest at least 80% of its total assets in bonds issued by the national governments of emerging market countries that comprise the underlying index, which measures the potential return of a portfolio of bonds issued by the national governments of emerging market countries, all in the respective local currency. As of Oct. 31, the index included bonds issued by 18 national governments.

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

The fund trades on the NYSE Arca under the ticker symbol "PFEM."

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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