Four New ETFs based on KBW indexes expected to list on Nov. 1, 2011….…
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Invesco PowerShares Capital Management LLC , announced it has expanded its partnership with Keefe, Bruyette & Woods, Inc. (KBW) to become the exclusive licensee of four KBW indexes providing targeted access to the bank, capital markets and insurance sectors, effective November 1, 2011.
“We are looking forward to providing investors a way to gain continued access to these key financial sub-sector indexes,” said Ben Fulton, Invesco PowerShares managing director of global ETFs, “we expect these ETFs to start trading November 1st.” Investors who wish to maintain their exposure to the KBW indexes listed below (“KBW Financial Indexes”) should take note of the table below when making an investment decision.
Index Name New ETF Name “Old” Ticker* “New” Ticker**
KBW Bank Index PowerShares KBW Bank Portfolio KBE KBWB
KBW Capital Markets Index PowerShares KBW Capital Markets Portfolio KCE KBWC
KBW Insurance Index PowerShares KBW Insurance Portfolio KIE KBWI
KBW Regional Banking Index PowerShares KBW Regional Banking Portfolio KRE KBWR
*Old Ticker – These are the tickers for certain State Street ETFs that will remain in existence but will no longer track the KBW Indexes as of today’s date. State Street and PowerShares are not affiliated entities. The PowerShares ETFs are not a continuation of the State Street ETFs.
**New Ticker – These are tickers for the PowerShares KBW ETFs which are expected to begin trading on November 1, 2011. Investors wishing to maintain or gain exposure to the KBW Financial Indexes should use these tickers.
The PowerShares KBW Bank Portfolio (KBWB) is based on the KBW Bank Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as banks or thrifts that are publicly-traded in the U.S. The Index is compiled, maintained and calculated by Keefe, Bruyette & Woods, Inc. and is composed of approximately 24 companies representing leading national money centers and regional banks or thrifts.
The PowerShares KBW Regional Banking Portfolio (KBWR) is based on the KBW Regional Banking Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is an equal weighted float-adjusted market capitalization index that seeks to reflect the performance of publicly traded companies that do business as regional banks or thrifts listed on U.S. stock markets. The Index is compiled, maintained and calculated by KBW and is composed of approximately 50 companies.
The PowerShares KBW Capital Markets Portfolio (KBWC) is based on the KBW Capital Markets Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a floatadjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies that do business as broker-dealers, asset managers, trust and custody banks or exchanges that are publicly traded. The Index is compiled, maintained and calculated by KBW.
The PowerShares KBW Insurance Portfolio (KBWI) is based on the KBW Insurance Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Index is a float adjusted modified-market capitalization-weighted index that seeks to reflect the performance of companies in the insurance industry that are publicly traded in the U.S. The Underlying Index is compiled, maintained and calculated by KBW and is composed of 24 companies representing approximately three-quarters of the market capitalization of the entire U.S. public insurance company universe.
Source: ETFWorld – Invesco PowerShares
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