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Tuesday, November 17, 2009|
Unwittingly, Two Build America Funds Launch on the Same Day
By a stroke of coincidence, Tuesday saw the launch of not one, but two funds that owe their existence to the Build America Bonds program.
From the passively managed corner comes Invesco PowerShares' PowerShares Build America Bond Portfolio, which marks the Wheaton, Illinois-based firm's sole ETF listing for this year. The ETF tracks the Bank of America Merrill Lynch Bond Index and comes with a net expense ratio of 28 bps. Invesco PowerShares executives were in New York Tuesday morning to attend the bell ringing at the New York Stock Exchange.
The timing of the two products' launch was a "complete coincidence," an Eaton Vance spokesperson told The MFWire.
Printed from: MFWire.com/story.asp?s=23278
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