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PowerShares to launch international, emerging markets ETFs
By Toni Weeks
San Diego, Jan. 3 - PowerShares Exchange-Traded Fund Trust II announced plans to launch two new funds that will each seek investment results of a specific Standard & Poor's benchmark index, according to an N-1A filing with the Securities and Exchange Commission on Friday.
The PowerShares S&P International Developed Low Volatility Portfolio will seek investment results that generally correspond, before fees and expenses, to the price and yield of the S&P BMI International Developed Low Volatility Index. The fund will invest at least 90% of its total assets in the securities of companies represented in the underlying index, which is designed to measure the performance of 200 of the least volatile stocks of the S&P Developed ex. U.S. and South Korea LargeMid Cap BMI Index.
The fund will trade on the NYSE Arca under the symbol "IDLV."
Management fees for the fund will run 0.35%, but the adviser, Wheaton, Ill.-based Invesco PowerShares Capital Management LLC, has agreed to hold operating expenses to 0.25% of the fund's average daily net assets per year until April 20, 2013.
The PowerShares S&P Emerging Markets Low Volatility Portfolio will seek investment results that generally correspond, before fees and expenses, to the price and yield of the S&P BMI Emerging Markets Low Volatility Index by investing at least 90% of its total assets in the securities of companies comprising the index. The index is designed to measure the performance of 200 of the least volatile stocks of the S&P Emerging BMI Plus LargeMid Cap Index.
The fund will trade on the NYSE Arca under the symbol "EELV."
Management fees for the fund will run 0.45%. Invesco, the investment adviser for the fund, will hold operating expenses to 0.29% until April 20, 2013.
The portfolio managers for both funds will be Peter Hubbard, Brian McGreal and Joshua Betts.
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