Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:PowerShares Stashes ETFs Inside New Closed-End Funds Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 28, 2009

PowerShares Stashes ETFs Inside New Closed-End Funds

News summary by MFWire's editors

When some closed-end funds trade at a discount for long, they are required to hold shareholder votes about possibly switching to being open-ended. PowerShares added an interesting twist to that concept with some new closed-end funds. In the Wall Street Journal "Fund Track" column on Monday, Daisy Maxey reports that the new PowerShares Preferred ACCE Fund and two other new PowerShares closed-end offerings will automatically transform into ETFs if they trade at a discount for long enough.

However, Miami advisor Cecilia Gondor of Thomas J. Herzfeld Advisors told the WSJ that the new PowerShares offerings will also include an upfront sales charge of about 450 basis points.

Maxey also highlights new closed-end offerings from Nuveen and Western Asset Management

Edited by: Neil Anderson, Managing Editor


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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use