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Rating:Invesco PowerShares Plans to Shutter 19 ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 1, 2009

Invesco PowerShares Plans to Shutter 19 ETFs

by: Armie Margaret Lee

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
  •  

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