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Rating:Two New PowerShares ETFs Make an AMEX Debut Not Rated 2.8 Email Routing List Email & Route  Print Print
Friday, November 16, 2007

Two New PowerShares ETFs Make an AMEX Debut

News summary by MFWire's editors

Two new PowerShares ETFs have launched on the AMEX. The PowerShares VRDO Tax Free Weekly Portfolio and the PowerShares High Yield Corporate Bond Portfolio began trading yesterday. The two new additions brings the PowerShares' total number of ETFs to 375.

The American Stock Exchange® (Amex®) today announced that it has launched trading in two new exchange traded funds (ETFs) by PowerShares Capital Management LLC. These new PowerShares ETFs bring the total number of ETF listings on the Amex to 375.

"The Amex takes great pride in supporting PowerShares as they grow their ETF family," said Scott Ebner, Senior Vice President of the Amex ETF Marketplace. "The Amex remains committed to bringing innovative investment vehicles to the marketplace."

PowerShares VRDO Tax Free Weekly Portfolio (Amex: PVI - News) seeks to track the Thomson Municipal Market Data VRDO Index which includes a pool of tax-exempt short-term VRDOs issued by municipalities in the United States that reset interest rates on a weekly basis.

PowerShares High Yield Corporate Bond Portfolio (Amex: PHB - News) seeks to track the Wachovia High Yield Bond Index which follows the performance of a selected basket of high yield bonds payable in U.S. dollars.

"We are excited to expand our fixed-income offerings on the American Stock Exchange," said Bruce Bond, president and CEO of PowerShares Capital Management. "High-quality VRDOs can provide attractive tax-exempt yields, but the typical $100,000 trading increment precludes many investors from participating in this asset class. The PowerShares VRDO Tax-Free Weekly portfolio will truly open this market for investors. We also believe the PowerShares High Yield Corporate Bond Portfolio will provide investors better access to these types of fixed income-securities, with the additional benefits of the ETF format."

Kellogg Capital Group, LLC is the specialist PVI. Goldman Sachs Execution & Clearing, LP is the specialist for PHB.

About the American Stock Exchange

The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 375 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com.

PowerShares Capital Management LLC is leading the intelligent ETF revolution through its family of more than 90 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 nearly $35 billion, PowerShares ETFs trade on all three U.S. stock exchanges and the PowerShares QQQ(TM), which tracks 100 of the NASDAQ's fastest-growing companies, is the most actively traded equity security in the world. For more information, please visit us at www.powershares.com.

PowerShares is a part of INVESCO PLC, a leading independent global investment manager dedicated to helping people worldwide build their financial security. Operating under the AIM, AIM Trimark, Atlantic Trust, Invesco Perpetual, PowerShares and WL Ross & Co. brands, INVESCO PLC strives to deliver outstanding products and services through a comprehensive array of enduring investment solutions for its retail, institutional and private wealth management clients around the world. The company, which had approximately $492 billion in assets under management as of Aug. 31, 2007, is listed on the London, New York and Toronto stock exchanges with the symbol "IVZ." Additional information is available at www.invesco.com. 

Edited by: Erin Kello

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