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Invesco PowerShares Lists Actively Managed U.S. Real Estate Fund on NYSE Arca
CHICAGO, IL--(Marketwire - November 20, 2008) - 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.