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Rating:Invesco PowerShares Thinks Small with its New ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 06, 2010

Invesco PowerShares Thinks Small with its New ETFs

Reported by Armie Margaret Lee

Invesco PowerShares executives are preparing their orange ties for their Nasdaq Stock Market appearance tomorrow to mark the launch of nine small-cap ETFs, a rollout that will bring its ETF count in the U.S. to 127.

Ben Fulton, managing director of Invesco PowerShares' global ETF business, will lead the group of execs that will ring the closing bell.

Yesterday, Invesco PowerShares hosted an event at the Nasdaq to promote the new offerings, which carry an expense ratio of 29 basis points and are based on the S&P SmallCap 600 Capped Sector Indices. The event drew nearly 100 attendees, including advisors and journalists.

Fulton, who took the helm of the ETF business last fall when Bruce Bond stepped down as CEO (Bond remains chairman), said in an interview that Invesco PowerShares is increasing product management efforts.

"We're building out our product management role," Fulton told The MFWire.

"We're supporting the products that we have, we're not just thinking of what's our next hot idea," he said.

Fulton also said Invesco PowerShares is looking at opportunities in the Asian market.

Other PowerShares execs in attendance yesterday included national sales manager Bobby Brooks, senior vice president of institutional and portfolio strategies Ed McRedmond and vice president Lorraine Wang.

Besides Fulton, the two others who gave presentations were David Blitzer, managing director and chairman of the index committee at S&P Indices and Sam Stovall, chief investment strategist at Standard & Poor's.

Before launching into his presentation, Fulton asked the audience if they bought Apple's new iPad device when it went on sale last Saturday and quipped that he hopes Invesco PowerShares' new products will mirror the iPad's sales success. 

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