Invesco PowerShares Capital Management LLC, a leading provider of
exchange-traded funds (ETFs), announced the PowerShares Active U.S.
Real Estate Fund began trading today on the NYSE Arca under the
ticker symbol (NYSE: PSR).
"The PowerShares Active U.S. Real Estate Fund (PSR) provides
investors an innovative new way to access a portfolio of U.S Real
Estate REITs through the investment management expertise of Invesco
Real Estate," said Bruce Bond, president and CEO of Invesco
PowerShares. "We are very proud to be offering the industry's
largest family of actively managed equity ETFs, which combine the
benefits of active management with the benefit-rich ETF
structure."
The PowerShares Active U.S. Real Estate Fund (PSR) seeks to
provide high total return by investing in publicly traded U.S. real
estate companies selected using a proprietary stock selection model
developed by Invesco Institutional (N.A.), Inc. (Invesco
Institutional). The selection methodology seeks to outperform its
benchmark, the FTSE NAREIT Equity REITs Index, using quantitative
and statistical metrics to identify attractively priced securities
and manage risk. The fund will invest primarily in equity real
estate investment trusts (REITs). The Fund's portfolio holdings
will be disclosed daily on the Fund's website.
Joe V. Rodriguez, Jr., the lead manager overseeing the Fund's
investment management team at Invesco Institutional, is the head of
real estate securities for Invesco Real Estate, which is an
investment management affiliate of Invesco Institutional. Mr.
Rodriguez has 25 years of industry experience. The Fund's expense
ratio is anticipated to be 0.80%.*
*The expense ratio is expressed as unitary fees to cover
expenses incurred in connection with managing the portfolio.
Invesco PowerShares is leading the intelligent ETF revolution
through its family of more than 100 domestic and international
index-based and actively managed exchange-traded funds. With assets
under management as of Sept. 30, 2008, of approximately $12
billion, PowerShares ETFs trade on all of the major U.S. stock
exchanges that trade ETFs. For more information, please visit us at
www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading
independent global investment management company dedicated to
helping people worldwide build their financial security. By
delivering the combined power of its distinctive worldwide
investment management capabilities, including AIM, Atlantic Trust,
Invesco, Perpetual, PowerShares, Trimark, and WL Ross, Invesco
provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the
New York Stock Exchange under the symbol "IVZ." Additional
information is available at www.invesco.com.
Established in 1983, Invesco Real Estate manages investments in
both direct property and real estate securities in the United
States and Europe. The group focuses on top-down fundamentals
combined with bottom-up local market intelligence. Senior members
of the management team have worked together for more than 15 years,
contributing to the consistent implementation of Invesco's
investment strategy and resulting performance. There are risks
involved with investing in ETFs, including possible loss of money.
Unlike conventional ETFs, the Fund is not an index fund. Therefore,
the Fund does not necessarily seek to replicate the performance of
a specified index. The Fund is subject to risk similar to stocks,
including those related to short selling and margin maintenance.
Ordinary brokerage commissions apply.
Shares are not FDIC insured, may lose value and have no bank
guarantee.
The Fund is subject to management risk because it is an actively
managed portfolio. There can be no guarantee that the investment
techniques and risk analyses used by the Sub-Adviser or portfolio
managers will produce the desired results.
Actively managed ETFs have a limited trading history and,
therefore, there can be no assurance as to whether and/or the
extent to which the shares will trade at premiums or discounts to
NAV, which is the market value of a fund share.
Non-Diversified Fund Risk
The Fund is non-diversified, which increases the risk that the
value of the fund's shares may vary more widely, and the fund may
be subject to greater investment and credit risk than if it
invested more broadly.
Market Risk
The prices of and income generated by securities held by the
Fund may decline in response to certain events, including those
directly involving the companies whose securities are owned by the
Fund, general economic and market conditions, and currency and
interest rate fluctuations.
Management Risk
The Fund is subject to management risk because it is an actively
managed portfolio. In managing the Fund's portfolio securities, the
Sub-Advisers will apply investment techniques and risk analyses in
making investment decisions for the Fund, but there can be no
guarantee that these will produce the desired results.
Risks of Investing In Real Estate
The risks associated with the real estate industry in general
include fluctuations in the value of underlying properties;
defaults by borrowers or tenants; market saturation; changes in
general and local economic conditions; decreases in market rates
for rents; increases in competition, property taxes, capital
expenditures, or operating expenses; and other economic, political
or regulatory occurrences affecting the real estate industry. The
REITs are subject to risks inherent in the direct ownership of real
estate. These risks include, but are not limited to, the risk of a
possible lack of mortgage funds and associated interest rate risks,
overbuilding, property vacancies, increases in property taxes and
operating expenses, changes in zoning laws, losses due to
environmental damages and changes in neighborhood values and appeal
to purchases. REITs are also subject to the risk that the real
estate market may experience an economic downturn generally, which
may have a material effect on the real estate in which the REITs
invest and their underlying portfolio securities.
Equity Risk
The Fund is subject to equity risk, which is the risk that the
value of the securities held by the Fund will fall due to general
market and economic conditions, perceptions regarding the
industries in which the issuers of securities held by the Fund
participate or factors relating to specific companies in which the
Fund invests.
Small and Medium-Capitalization Risk
Investing in securities of small and medium-capitalization
companies involves greater risk than is customarily associated with
investing in larger, more established companies.
Concentration Risk
Because the Fund concentrates its investments companies that are
principally engaged in the real estate industry, the value of the
Fund's shares may rise and fall more than the value of shares of a
fund that invests in a broader range of companies.
PowerShares� is a registered trademark of Invesco PowerShares
Capital Management LLC. Invesco PowerShares Capital Management LLC,
Invesco Aim Distributors, Inc. and Invesco Institutional (N.A.),
Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
The FTSE NAREIT Equity REITs Index is an unmanaged index
considered representative of U.S. REITs.
Invesco Aim Distributors, Inc. is the distributor of the
PowerShares Actively Managed Exchange-Traded Fund Trust.
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 Unit aggregations only,
typically consisting of 50,000 shares.
An investor should consider the Fund's investment objective,
risks, charges and expenses carefully before investing. For a copy
of the prospectus which contains this and other information about
the Fund, call 800.983.0903. Please read the prospectus carefully
before investing.
Media Contacts: Kristin Sadlon Porter Novelli 212-601-8192 Email
Contact Bill Conboy BC Capital Partners 303-415-2290 Email
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