TORONTO, Dec. 15, 2016 /CNW/ - To accommodate any potential future rollouts of new series with different currency exposures, Invesco today announced changes to six Canadian-listed PowerShares exchange-traded funds (ETFs) as well as the ticker symbols for five of those ETFs, effective on or about January 12, 2017.
There will be no changes to the underlying strategies of existing series of these ETFs, and current investors will not be impacted by these changes.
The following table illustrates the upcoming changes to ETF names and tickers:
| Current name |
Current |
New name |
New |
| PowerShares Senior Loan (CAD Hedged) Index ETF
|
BKL |
PowerShares Senior Loan Index ETF |
BKL.F |
| PowerShares Fundamental High Yield Corporate Bond (CAD Hedged) Index ETF
|
PFH |
PowerShares Fundamental High Yield Corporate Bond Index ETF |
PFH.F |
| PowerShares S&P 500 Low Volatility (CAD Hedged) Index ETF
|
ULV |
PowerShares S&P 500 Low Volatility Index ETF |
ULV.F |
| PowerShares FTSE RAFI U.S. Fundamental (CAD Hedged) Index ETF
|
PXU |
PowerShares FTSE RAFI U.S. Fundamental Index ETF |
PXU.F |
| PowerShares FTSE RAFI U.S. Fundamental Index ETF
|
PXS/ |
PowerShares FTSE RAFI U.S. Fundamental Index ETF II |
No change |
| PowerShares QQQ (CAD Hedged) Index ETF
|
QQC |
PowerShares QQQ Index ETF |
QQC.F |
Effective on or about January 12, 2017, any attempted trades using the old tickers will not be executed.
The ".F" ticker extension has become a standard indicator in the Canadian ETF market for a currency-hedged series. Currently, PowerShares Canada offers five currency-hedged ETFs. The tickers for each of these ETFs will be changing to include the ".F" ticker extension. At the same time, PowerShares Canada is removing "(CAD Hedged)" from the names of the affected ETFs, allowing for the creation of new series in the future, including unhedged CAD and USD series.
In the case of PowerShares FTSE RAFI U.S. Fundamental Index ETF (PXS/PXS.U), the addition of "II" to the name will differentiate the ETF from the CAD-hedged PowerShares FTSE RAFI U.S. Fundamental Index ETF (current ticker PXU, future ticker PXU.F). Both ETFs follow the FTSE RAFI® US 1000 Index strategy, but provide different currency exposures: PowerShares FTSE RAFI U.S. Fundamental Index ETF PXU.F will be CAD-hedged; PowerShares FTSE RAFI U.S. Fundamental Index ETF II PXS.U will be USD-unhedged; and PowerShares FTSE RAFI U.S. Fundamental Index ETF PXS II will be CAD-unhedged.
For more information, please visit invesco.ca. You can also connect with Invesco on Twitter (@InvescoCanada), LinkedIn, Facebook, or through the Invesco Canada blog.
About Invesco Ltd.
Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; invesco.com.
Commissions, management fees and expenses may all be associated with investments in exchange-traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing. Copies are available from Invesco Canada Ltd. at powershares.ca. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to the ETF. Ordinary brokerage commissions apply to purchases and sales of ETF units.
FTSE® is a trademark owned by the London Stock Exchange Group companies and is used by FTSE International Limited ("FTSE") under licence. The FTSE RAFI® Index Series is calculated by FTSE in conjunction with Research Affiliates, LLC ("RA"). Neither FTSE nor RA sponsor, endorse or promote this product and are not in any way connected to it and do not accept any liability in relation to its issue, operation and trading. Any intellectual property rights in the Index values and constituent list vest in FTSE.
Investors should be aware of the risks associated with data sources and quantitative processes used in our investment-management process. Errors may exist in data acquired from third-party vendors, the construction of model portfolios and in coding related to the index and portfolio-construction process. While RA takes steps to identify data and process errors so as to minimize the potential impact of such errors on index and portfolio performance, we cannot guarantee that such errors will not occur.
"Fundamental Index®" and/or "Research Affiliates Fundamental Index®" and/or "RAFI®" and/or all other RA trademarks, trade names, patented and patent-pending concepts are the exclusive property of Research Affiliates, LLC.
S&P®, S&P 500® and S&P 500 Low Volatility Index® are registered trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by Invesco Canada Ltd.
LSTA® is a registered trademark of Loan Syndications and Trading Association and has been licensed for use by S&P Dow Jones Indices LLC and Invesco Canada Ltd. TSX is a trademark of TSX Inc. ("TSX") and has been licensed for use by S&P Dow Jones Indices LLC and Invesco Canada Ltd.
The S&P 500 Low Volatility Index (CAD Hedged) and S&P/LSTA U.S. Leveraged Loan 100 Index (CAD Hedged) (the "Indices") are products of S&P Dow Jones Indices LLC, and have been licensed for use by Invesco Canada Ltd. Invesco Canada Ltd.'s PowerShares Index ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, its affiliates, LSTA or TSX, and none of such parties makes any representation regarding the advisability of investing in such product.
Nasdaq®, OMX®, and Nasdaq OMX® are registered trademarks of The Nasdaq OMX Group, Inc. ("Nasdaq OMX") and LadderRite® is a registered trademark of LadderRite Portfolios LLC ("LadderRite"). Nasdaq®, OMX®, Nasdaq OMX® and LadderRite® are collectively the "Marks". The Marks are used under licence to PowerShares Capital Management LLC and Invesco Canada Ltd. The product(s) have not been passed on by Nasdaq OMX or LadderRite as to their legality or suitability. The product(s) are not issued, endorsed, sold, or promoted by Nasdaq OMX or LadderRite, and NASDAQ OMX AND LADDERRITE MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
Most PowerShares ETFs seek to replicate, before fees and expenses, the performance of the applicable index, and are not actively managed. This means that the sub-advisor will not attempt to take defensive positions in declining markets and the ETF will continue to provide exposure to each of the securities in the index regardless of whether the financial condition of one or more issuers of securities in the index deteriorates. In contrast, if a PowerShares ETF is actively managed, then the sub-advisor has discretion to adjust that PowerShares ETF's holdings in accordance with the ETF's investment objectives and strategies.
PowerShares Canada and Invesco are registered business names of Invesco Canada Ltd.
This piece was produced by Invesco Canada Ltd.
Invesco® and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence. PowerShares® and all associated trademarks are trademarks of Invesco PowerShares Capital Management LLC (Invesco PowerShares), used under licence.
© Invesco Canada Ltd., 2016
SOURCE Invesco Canada Ltd.
Aysha Mawani, Vice President, Corporate Affairs, Tel: 416.324.7712, [email protected]
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