Click here to close now.




















Welcome!

News Feed Item

Invesco PowerShares Announces Changes for Municipal Bond ETFs

CHICAGO, IL -- (Marketwired) -- 07/08/14 -- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced that the Fund name, underlying index, investment objective, certain fundamental and non-fundamental investment policies and principal investment strategies changed for its three PowerShares Municipal Bond ETFs.

Effective July 8, 2014, the PowerShares Insured National Municipal Bond Portfolio (PZA) will track the BofA ML National Long-Term Core Plus Municipal Securities Index (UNAP), the PowerShares Insured New York Municipal Bond Portfolio (PZT) will track the BofA ML New York Long-Term Core Plus Municipal Securities Index (UNYP) and the PowerShares Insured California Municipal Bond Portfolio (PWZ) will track the BofA ML California Long-Term Core Plus Municipal Securities Index (UCAP).


----------------------------------------------------------------------------
 Ticker  Former Fund Name New Fund Name    Former Index     New Index
----------------------------------------------------------------------------
         PowerShares      PowerShares      BofA ML National BofA ML National
         Insured National National AMT-    Insured Long-    Long-Term Core
         Municipal Bond   Free Municipal   Term Core Plus   Plus Municipal
   PZA   Portfolio        Bond Portfolio   Municipal        Securities Index
                                           Securities Index (UNAP)
                                           (UPCM)
----------------------------------------------------------------------------
         PowerShares      PowerShares New  BofA ML New York BofA ML New York
         Insured New York York AMT-Free    Insured Long-    Long-Term Core
         Municipal Bond   Municipal Bond   Term Core Plus   Plus Municipal
   PZT   Portfolio        Portfolio        Municipal        Securities Index
                                           Securities Index (UNYP)
                                           (UPNY)
----------------------------------------------------------------------------
         PowerShares      PowerShares      BofA ML          BofA ML
         Insured          California AMT-  California       California Long-
         California       Free Municipal   Insured Long-    Term Core Plus
   PWZ   Municipal Bond   Bond Portfolio   Term Core Plus   Municipal
         Portfolio                         Municipal        Securities Index
                                           Securities Index (UCAP)
                                           (UPCC)

Since 2007, when the PowerShares Insured Municipal Bond Portfolios first listed, the US market for insured municipal bond securities has shrunk by over 40 percent(1), making the available supply of insured-municipal securities more limited. The new indexes underlying the PowerShares' Municipal Bond ETFs include both insured and uninsured municipal bonds. Merrill Lynch, Pierce, Fenner & Smith Incorporated ("BofA Merrill Lynch") will remain the index provider for each Fund.

To learn more about the changes affecting the PowerShares municipal bond ETFs, please review the funds' prospectus by clicking here.

1. Source: Bloomberg, L.P. as of June 30, 2014

PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Invesco PowerShares and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.

Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust and the PowerShares Exchange-Traded Fund Trust II.

About Invesco PowerShares Capital Management LLC and Invesco Ltd.

Invesco PowerShares Capital Management LLC is leading the Intelligent ETF Revolution® through its family of more than 140 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets of over $100 billion* as of June 30, 2014, PowerShares ETFs trade on both US stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.

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.

*US franchise assets include QQQs, BLDRS and DB Funds. ALPS Distributors, Inc. is the distributor of PowerShares QQQ, BLDRS Funds and PowerShares DB Funds. PowerShares QQQ and BLDRS Funds are unit investment trusts. Invesco PowerShares and Invesco Distributors, Inc. are not affiliated with ALPS Distributors, Inc.

Not FDIC Insured | May Lose Value | No Bank Guarantee

Important Risk Information

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Funds' returns may not match the return of the Underlying Indexes.

The Funds' underlying securities may be subject to call risk, which may result in the Funds having to reinvest the proceeds at lower interest rates, resulting in a decline in the Funds' income.

The Funds' use of a representative sampling approach will result in its holding a smaller number of bonds than are in the underlying Index, and may be subject to greater volatility.

There is no guarantee that the Funds' income will be exempt from federal or state income taxes.

Municipal insurance doesn't protect against losses in the Funds.

Municipal securities may be affected by political changes as well as uncertainties in the municipal market related to taxation, legislative changes or the rights of municipal security holders. The market for municipal bonds may also be less liquid than for taxable bonds.

Puerto Rico's current economic problems increase the risk of investing in Puerto Rican municipal obligations, including the risk of potential issuer default, and also heighten the risk that the prices of Puerto Rican municipal obligations, and the Fund's net asset value, will experience greater volatility. Please see the prospectus supplement for complete information.

Investments in fixed-income securities, such as notes and bonds, carry interest rate and credit risk. Interest rate risk refers to the risk that bond prices generally fall as interest rates rise and vice versa. Credit risk is the risk of loss on an investment due to the deterioration of an issuer's financial health.

PZA & PWZ

The Funds currently intends to effect creations and redemptions principally for cash, rather than principally in-kind because of the nature of the Funds' investments. As such, investments in the Funds may be less tax efficient than investments in ETFs that create and redeem in-kind.

PZT & PWZ

The Funds are considered non-diversified and may be subject to greater risks than a diversified fund.

A natural or other disaster could occur in a geographic region in which the Funds invests, which could adversely impact the Funds' investments in the affected region.

Unlike most ETFs, the Funds currently intend to effect redemptions principally for cash and partially in-kind, rather than primarily in-kind redemptions because of the nature of the Funds' investments. As such, investments in Shares may be less tax efficient than investments in conventional ETFs.

PZT

New York's current economic problems increase the risk of investing in New York municipal obligations, including the risk of potential issuer default, and also heighten the risk that the prices of New York municipal obligations, and the Fund's net asset value, will experience greater volatility. Please see the prospectus supplement for complete information.

PWZ

California's current economic problems increase the risk of investing in California municipal obligations, including the risk of potential issuer default, and also heighten the risk that the prices of California municipal obligations, and the Fund's net asset value, will experience greater volatility. Please see the prospectus supplement for complete information.

Note: Not all products available through all firms.

An investor should consider the Funds' investment objectives, risks, charges and expenses carefully before investing. For this and more complete information about the Funds call 800 983 0903 or visit invescopowershares.com for a prospectus. Please read the prospectus carefully before investing.

P-MUNI-PR-1-E 8050 0714 x 0715

Media Contacts:

Kristin Sadlon
Porter Novelli
212-601-8192
Email Contact

Bill Conboy
303-415-2290
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.