Invesco PowerShares Capital Management LLC, a leading global
provider of exchange-traded funds (ETFs), announced today that it
will waive its unitary fee for the four new ETFs based on Keefe,
Bruyette & Woods, Inc. (KBW) indexes that are expected to begin
trading November 1st on the NYSE Arca. The portfolios provide
investors with targeted access to the bank, capital markets and
insurance sectors. The ticker symbols, names and underlying indexes
are as follows:
----------------------------------------------------------------------------
Unitary Fee
Index Name ETF Name Ticker Through Feb. 1,
2012
----------------------------------------------------------------------------
PowerShares KBW Bank
KBW Bank Index Portfolio KBWB 0.00%
----------------------------------------------------------------------------
PowerShares KBW Capital
KBW Capital Markets Index Markets Portfolio KBWC 0.00%
----------------------------------------------------------------------------
PowerShares KBW Insurance
KBW Insurance Index Portfolio KBWI 0.00%
----------------------------------------------------------------------------
PowerShares KBW Regional
KBW Regional Banking Index Banking Portfolio KBWR 0.00%
----------------------------------------------------------------------------
Please see the prospectus for more information on the unitary
fee waiver.
"KBW is well known for producing industry-leading research on
the financial services sector and the KBW indexes are widely used
by industry professionals as performance benchmarks," said Ben
Fulton, Invesco PowerShares managing director of global ETFs.
"Accordingly, we are very excited to expand our partnership with
KBW with four additional ETFs that provide precise access to key
financial sub-sectors. In order to ease the transition for
investors that would like to continue to retain their portfolio's
exposure to the KBW financial Indexes, we are waving the unitary
fee on these four ETFs through February 1, 2012. We are able to
take this unprecedented step with the full support from our key
partners who are also waiving their fees."
KBW research reveals that each sub-sector of the financial
services sector responds differently to various economic
indicators. KBW indexes are clearly defined; offering investors
pure exposure to each individual sector, without overlapping
components or including unwanted securities.
"Financial services is the second largest sector in the S&P
500, accounting for 16% of the index's overall weight, and targeted
allocation to this sector should be considered a core part of any
diversified portfolio," said Frederick Cannon, director of research
at KBW. "With these new ETFs, investors can target opportunities in
specific sub-sectors, taking advantage of a changing equity
environment in which many companies are undervalued and financials
are becoming more attractive."
Public filings show that effective October 24, 2011, State
Street changed the underlying indexes and names for the SPDR KBW
funds, and began using S&P as the new index provider. Invesco
PowerShares is now the new exclusive licensee of the KBW Indexes
effective November 1, 2011.
The PowerShares KBW Bank Portfolio (KBWB)
is based on the KBW Bank Index. The Fund will normally invest at
least 90%of its total assets in securities that comprise the
Underlying Index. The Index is a float adjusted modified-market
capitalization-weighted index that seeks to reflect the performance
of companies that do business as banks or thrifts that are
publicly-traded in the U.S. The Index is compiled, maintained and
calculated by Keefe Bruyette & Woods, Inc. and is composed of
approximately 24 companies representing leading national money
centers and regional banks or thrifts.
The PowerShares KBW Capital Markets Portfolio
(KBWC) is based on the KBW Capital Markets Index. The Fund
will normally invest at least 90% of its total assets in securities
that comprise the Underlying Index. The Index is a float adjusted
modified-market capitalization-weighted index that seeks to reflect
the performance of companies that do business as broker-dealers,
asset managers, trust and custody banks or exchanges that are
publicly traded. The Index is compiled, maintained and calculated
by KBW.
The PowerShares KBW Insurance Portfolio
(KBWI) is based on the KBW Insurance Index. The Fund will
normally invest at least 90% of its total assets in securities that
comprise the Underlying Index. The Index is a float adjusted
modified-market capitalization-weighted index that seeks to reflect
the performance of companies in the insurance industry that are
publicly traded in the U.S. The Underlying Index is compiled,
maintained and calculated by KBW and is composed of 24 companies
representing approximately three-quarters of the market
capitalization of the entire U.S. public insurance company
universe.
The PowerShares KBW Regional Banking Portfolio
(KBWR) is based on the KBW Regional Banking Index. The Fund
will normally invest at least 90% of its total assets in securities
that comprise the Underlying Index. The Index is an equal weighted
float-adjusted market capitalization index that seeks to reflect
the performance of publicly traded companies that do business as
regional banks or thrifts listed on U.S. stock markets. The Index
is compiled, maintained and calculated by KBW and is composed of
approximately 50 companies.
KBW, Inc. operates in the U.S., Europe and Asia through its
broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc.,
Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods
Asia Limited. Founded in 1962, the firm is widely recognized as a
leading authority in the banking, insurance, brokerage, asset
management, mortgage banking, real estate and specialty finance
sectors. The firm has established industry-leading positions in the
areas of research, corporate finance, mergers and acquisitions as
well as sales and trading in equities and debt securities of
financial services companies.
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 over $57 billion as of June
30, 2011, PowerShares ETFs trade on both U.S. stock exchanges. For
more information, please visit us at invescopowershares.com or
follow us on Twitter @PowerShares.
Invesco is a leading independent global investment manager,
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 retail, institutional
and high net worth clients around the world. Operating in more than
20 countries, the company is listed on the New York Stock Exchange
under the symbol IVZ. Additional information is available at
www.invesco.com.
There are risks involved with investing in ETFs, including
possible loss of money. Shares are not actively managed and are
subject to risks including those regarding short selling and margin
maintenance requirements. Ordinary brokerage commissions may
apply.
The Funds are considered non-diversified and may be subject to
greater risks than a diversified fund.
The Funds may contain securities in the financial, insurance,
banking, and capital market sectors. Companies engaged in these
sectors are subject to greater risks, and are more greatly impacted
by market volatility, than more diversified investments.
Not FDIC Insured | May Lose Value | No Bank
Guarantee Shares are not individually redeemable and owners of
the shares may acquire those shares from the Fund and tender those
shares for redemption to the Fund in Creation Units only, typically
consisting of aggregations of 50,000 shares.
Invesco Distributors, Inc. is the distributor of the PowerShares
Exchange-Traded Fund Trust II.
Note: Not all products available through all firms.
PowerShares® is a registered trademark of Invesco PowerShares
Capital Management LLC. Invesco PowerShares Capital Management LLC
and Invesco Distributors, Inc. are indirect, wholly owned
subsidiaries of Invesco Ltd.
An investor should consider the Fund's
investment objective, risks, charges and expenses carefully before
investing. For this and more complete information about the Fund
call 800 983 0903 or visit invescopowershares.com for a prospectus.
Please read the prospectus carefully before investing.
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Media Contacts: For Invesco PowerShares: Kristin Sadlon
Cohn & Wolfe 212.798.9864 Email Contact Bill Conboy
303-415-2290 Email Contact For KBW: Michael Gelormino 212-909-4780
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