PowerShares Global Select Short Term Bond Portfolio plans launch

By Toni Weeks

San Luis Obispo, Calif., Feb. 28 - PowerShares Exchange-Traded Fund Trust II announced in an N-1A filing with the Securities and Exchange Commission that it will offer a new series, the PowerShares Global Select Short Term Bond Portfolio.

The fund will seek investment results that generally correspond, before fees and expenses, to the price and yield of its benchmark index, the DB Global Dynamic Short Maturity Bond index. The fund will generally invest at least 80% of its total assets in U.S. and foreign investment-grade, short-term bonds that are denominated in dollars and included in the index.

Eligible bonds may include either short-term bonds with a maturity of three years or less from date of issue or long-term "seasoned" bonds, which had a maturity longer than three years at date of issue but now have a remaining life of three years or less until maturity. To be included in the index, the short-term and long-term seasoned bonds must have a minimum amount outstanding of at least $500 million and $1 billion, respectively.

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

The fund will trade on the NYSE Arca. The ticker symbol has not been set.

Management fees and total annual operating expenses have not been determined.

Wheaton, Ill.-based Invesco PowerShares Capital Management LLC will serve as the fund's investment adviser.

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