is planning on launching what it claims would be the first exchange-traded fund centered on Build America Bonds, the Atlanta-based company revealed in an SEC filing
Tuesday. The PowerShares Build America Bond Portfolio
would track the Merrill Lynch Build America Bond Index
"We think it will be a great vehicle for people to access the Build America Bonds program and that area of the marketplace," PowerShares Chief Executive Bruce Bond told The Wall Street Journal
's Daisy Maxey. "We think there's a lot of interest right now, and a lot of volume coming on the market."
The WSJ said managing director John Sutherland
would manage the portfolio.
The MFWire reported
last week that Eaton Vance
launched a plain vanilla mutual fund that invests in Build America Bonds.
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