Welcome!

News Feed Item

PowerShares Canada announces changes to three ETFs, one mutual fund

TORONTO, March 24, 2014 /CNW/ - PowerShares Canada today announced changes to the investment strategy of PowerShares Canadian Preferred Share Index Class and PowerShares Canadian Preferred Share Index ETF ("PPS").

In 2013, The NASDAQ OMX Group, Inc. ("NASDAQ") acquired the index business of Mergent, Inc., including Indxis, which created and maintained the underlying index for both PowerShares Canadian Preferred Share Index Class and PPS.

Following the acquisition, NASDAQ reviewed its indices, and has announced enhancements to its NASDAQ Select Canadian Preferred ShareTM Index, which is the underlying index of both PPS and PowerShares Canadian Preferred Share Index Class.

"After significant review, NASDAQ has determined to update the index methodology for NASDAQ Select Canadian Preferred ShareTM Index in order to bring a more robust approach to the market," said Dave Gedeon, managing director, NASDAQ OMX Global Indexes. "We are updating the methodology with a focus on index size and selection, and believe the resulting index with high-yield and low-volatility screens will serve as a better benchmark for the Canadian market."

"The improvements made to the underlying index reflect NASDAQ and PowerShares Canada's continued commitment to providing access to smart beta strategies for Canadian investors," said Michael Cooke, Head of Distribution, PowerShares Canada.

The previous index methodology had applied liquidity and market-capitalization screens to narrow the investable universe, from which the 50 most liquid securities were selected for index inclusion.

Effective Thursday, May 1, 2014, the index will include 100 securities, with selection based on the highest combined weight of high yield and low volatility. The new methodology maintains the liquidity screen and continues to weight by market capitalization.

PowerShares Canada also announced that it has reduced the management fee on PowerShares FTSE RAFI U.S. Fundamental (CAD Hedged) Index ETF ("PXU"). Effective March 28, 2014, the management fee will be reduced from 60 basis points (bps) to 55 bps.

The effective management fee for PXU has been 55 bps since its inception on January 26, 2012, when an ongoing discretionary waiver of five bps was implemented. To provide investors with more clarity, that waiver has been cancelled and the fee reduced permanently.

In a related announcement, PowerShares Canada will rename PowerShares Ultra DLUX Long Term Government Bond Index ETF (PGL) as PowerShares Ultra Liquid Long Term Government Bond Index ETF (PGL) effective April 15, 2014. The name change reflects the new name of its underlying index; however, the index methodology is unchanged.

The DEX Ultra DLUX Long Government Bond Index was renamed FTSE TMX Canada Ultra Liquid Long Term Government Bond Index. That name change resulted from the merger of the fixed-income index businesses of TMX Datalinx and FTSE Group.

To learn more about TSX-listed PowerShares exchange-traded funds (ETFs), including the full methodology of the NASDAQ Select Canadian Preferred Share Index, please visit www.powershares.ca.

About Invesco Canada Ltd.

Invesco Canada Ltd., operating under three distinct yet complementary product brands (Trimark, Invesco and PowerShares), is one of Canada's leading investment management companies. A subsidiary of Invesco Ltd., Invesco Canada's singular focus is on investment management, offering a diversified suite of solutions to institutions, organizations, companies and individual investors across Canada and around the world. Additional information is available at www.invesco.ca.

About Invesco Ltd.

Invesco Ltd. is a leading independent global investment management firm dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.

Commissions, management fees and expenses may all be associated with investments in mutual funds and ETFs. Trailing commissions may be associated with investments in mutual funds. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks. Copies are available from Invesco Canada Ltd. at www.powershares.ca. Ordinary brokerage commissions apply to purchases and sales of ETF units.

Most PowerShares ETFs seek to replicate, before fees and expenses, the performance of the applicable index, and are not actively managed. This means that the sub-advisor will not attempt to take defensive positions in declining markets and the ETF will continue to provide exposure to each of the securities in the index regardless of whether the financial condition of one or more issuers of securities in the index deteriorates. In contrast, if a PowerShares ETF is actively managed, then the sub-advisor has discretion to adjust that PowerShares ETF's holdings in accordance with the ETF's investment objectives and strategies.

ETFs are not diversified investments.

NASDAQ Select Canadian Preferred Share Index has been licensed for use by Invesco Canada Ltd. The product is not sponsored, endorsed, sold or promoted by NASDAQ OMX, and NASDAQ OMX makes no representation regarding the advisability of investing in PowerShares Canadian Preferred Share Index ETF.

NASDAQ®, OMX®, NASDAQ OMX® are trade/service marks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are used under licence to PowerShares Capital Management LLC and Invesco Canada Ltd. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

FTSE® is a trade mark owned by the London Stock Exchange Group companies and is used by FTSE International Limited ("FTSE") under licence. The FTSE RAFI® Index Series is calculated by FTSE in conjunction with Research Affiliates LLC ("RA"). Neither FTSE nor RA sponsor, endorse or promote this product and are not in any way connected to it and do not accept any liability in relation to its issue, operation and trading. Any intellectual property rights in the index values and constituent list vests in FTSE.

FTSE TMX Canada Ultra Liquid Long Government Bond is a trademark of FTSE TMX Global Debt Capital Markets Inc. The mark has been sublicensed for use for certain purposes to Invesco Canada Ltd. by FTSE TMX Global Debt Capital Markets Inc. PowerShares Ultra Liquid Long Term Government Bond Index ETF (the "Product") is not sponsored, endorsed, sold or promoted by FTSE TMX Global Debt Capital Markets Inc., its affiliates and third party data suppliers. FTSE TMX Global Debt Capital Markets Inc. makes no representation, warranty, or condition regarding the advisability of investing in the Product.

Investors should be aware of the risks associated with data sources and quantitative processes used in our investment management process. Errors may exist in data acquired from third party vendors, the construction of model portfolios, and in coding related to the index and portfolio construction process. While Research Affiliates takes steps to identify data and process errors so as to minimize the potential impact of such errors on index and portfolio performance, we cannot guarantee that such errors will not occur.

"Fundamental Index®" and/or "Research Affiliates Fundamental Index®" and/or "RAFI®" and/or all other RA trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC.

PowerShares Canada is registered business name of Invesco Canada Ltd.

This piece was produced by Invesco Canada Ltd.

Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. PowerShares®, Leading the Intelligent ETF Revolution® and all associated trademarks are trademarks of Invesco PowerShares Capital Management LLC (Invesco PowerShares), used under licence.
© Invesco Canada Ltd., 2014

SOURCE Invesco Canada Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his session at 20th Cloud Expo, Mike Johnston, an infrastructure engineer at Supergiant.io, will discuss how to use Kubernetes to setup a SaaS infrastructure for your business. Mike Johnston is an infrastructure engineer at Supergiant.io with over 12 years of experience designing, deploying, and maintaining server and workstation infrastructure at all scales. He has experience with brick and mortar data centers as well as cloud providers like Digital Ocean, Amazon Web Services, and Rackspace....
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
"I think that everyone recognizes that for IoT to really realize its full potential and value that it is about creating ecosystems and marketplaces and that no single vendor is able to support what is required," explained Esmeralda Swartz, VP, Marketing Enterprise and Cloud at Ericsson, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.