06/05/2009 An ETF issuer Announces Changes to ETF Family

The PowerShares product line includes 135 unique portfolios with assets of ..

$25.8 billion as of March 31, 2009. The family of ETFs is one of the broadest in the marketplace today and spans numerous market segments, sizes, styles, themes and security types, both domestic and international.
In an effort to position its business for future growth opportunities and to align its family of ETFs with the changing investment landscape, Invesco PowerShares announced today that it plans to close 19 of its ETFs. The affected funds represent less than 1% of Invesco PowerShares’ total assets.
“After carefully evaluating numerous factors including shareholder considerations, length of time on the market, asset levels and the potential for future growth, we proposed closing certain portfolios that have not gained sufficient acceptance with investors,” said Bruce Bond, president and CEO of Invesco PowerShares. “We remain fully committed to the ETF industry and expect to offer new, exciting products in the months ahead.”
At a May 1, 2009 meeting, the PowerShares Funds Board of Trustees approved the closings. May 18, 2009 will be the final day of trading on The NASDAQ Stock Market LLC (“NASDAQ”) and NYSE Arca, Inc. (“NYSE Arca”) for the affected ETFs (collectively, the “Funds”) listed below:

PowerShares Dynamic Aggressive Growth Portfolio PGZ
PowerShares Dynamic Asia Pacific Portfolio PUA
PowerShares Dynamic Deep Value Portfolio PVM
PowerShares Dynamic Europe Portfolio PEH
PowerShares Dynamic Hardware & Consumer Electronics Portfolio PHW
PowerShares FTSE RAFI Asia Pacific ex-Japan Small-Mid Portfolio PDQ
PowerShares FTSE RAFI Basic Materials Sector Portfolio PRFM
PowerShares FTSE RAFI Consumer Goods Sector Portfolio PRFG
PowerShares FTSE RAFI Consumer Services Sector Portfolio PRFS
PowerShares FTSE RAFI Energy Sector Portfolio PRFE
PowerShares FTSE RAFI Europe Small-Mid Portfolio PWD
PowerShares FTSE RAFI Financials Sector Portfolio PRFF
PowerShares FTSE RAFI Health Care Sector Portfolio PRFH
PowerShares FTSE RAFI Industrials Sector Portfolio PRFN
PowerShares FTSE RAFI International Real Estate Portfolio PRY
PowerShares FTSE RAFI Telecommunications & Technology Sector Portfolio PRFQ
PowerShares FTSE RAFI Utilities Sector Portfolio PRFU
PowerShares High Growth Rate Dividend Achievers Portfolio PHJ
PowerShares International Listed Private Equity Portfolio PFP

In early May 2009, the Funds will begin the process of closing down and liquidating their respective portfolios. This process will cause each Fund’s holdings to deviate from the securities included in its underlying index and each Fund to increase its cash holdings, which may lead to increased tracking error. Effective May 19, 2009, the Funds will be closed to new investors.
Shareholders may sell their holdings prior to May 19, 2009, and may incur typical transaction fees from their broker-dealer. Shareholders of record on the close of business on May 18, 2009 will receive cash equal to the amount of the net asset value of their shares as of May 22, 2009, which will include any capital gains and dividends, in the cash portion of their brokerage accounts.
Shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares.

Source: ETFWorld.com -Invesco PowerShares Capital Management LLC