Invesco PowerShares plans to fold 19 of its 135 ETFs this month. The funds headed for closure had combined assets of $122 million as of end-March, or less than 1 percent of the firm's total ETF assets of $25.8 billion.

"Over the last four years, we were probably one of the most prolific sponsors of new ETFs," said Invesco PowerShares CEO Bruce Bond in an interview with The MFWire. The firm launched 115 ETFs over that period.

"Considering the economy, it made sense for us to evaluate the full line of products," Bond said. "Based on a variety of factors, we decided to close certain funds that have not gained significant acceptance with investors."

Even after trimming its lineup, Invesco PowerShares will still have the second largest ETF menu in the industry, he said.

No additional closures are planned at this time, Bond said.

The 19 funds that will close are:

PowerShares Dynamic Aggressive Growth Portfolio

PowerShares Dynamic Asia Pacific Portfolio

PowerShares Dynamic Deep Value Portfolio

PowerShares Dynamic Europe Portfolio

PowerShares Dynamic Hardware & Consumer Electronics Portfolio

PowerShares FTSE RAFI Asia Pacific ex-Japan Small-Mid Portfolio

PowerShares FTSE RAFI Basic Materials Sector Portfolio

PowerShares FTSE RAFI Consumer Goods Sector Portfolio

PowerShares FTSE RAFI Consumer Services Sector Portfolio

PowerShares FTSE RAFI Energy Sector Portfolio

PowerShares FTSE RAFI Europe Small-Mid Portfolio

PowerShares FTSE RAFI Financials Sector Portfolio

PowerShares FTSE RAFI Health Care Sector Portfolio

PowerShares FTSE RAFI Industrials Sector Portfolio

PowerShares FTSE RAFI International Real Estate Portfolio

PowerShares FTSE RAFI Telecommunications & Technology Sector Portfolio

PowerShares FTSE RAFI Utilities Sector Portfolio

PowerShares High Growth Rate Dividend Achievers Portfolio

PowerShares International Listed Private Equity Portfolio

 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE