PowerShares Global Short Term High Yield Bond Portfolio to launch

By Toni Weeks

San Luis Obispo, Calif., March 18 - PowerShares Exchange-Traded Fund Trust II announced in an N-1A filing with the Securities and Exchange Commission its plans to launch a new high-yield fixed-income fund.

The PowerShares Global Short Term High Yield Bond Portfolio will seek investment results that generally correspond, before fees and expenses, to the price and yield of the DB Global Short Term High Yield Bond index. The fund will generally invest at least 80% of its total assets in U.S. and foreign short-term, non-investment-grade, dollar-denominated bonds included in the underlying index.

Peter Hubbard, Philip Fang, Jeffrey W. Kernagis and Gary Jones will comprise the portfolio management team.

The fund will trade on the NYSE Arca. The ticker symbol has not yet been set.

Management fees and total annual fund operating expenses have not yet been determined.

Wheaton, Ill.-based Invesco PowerShares Capital Management LLC will be the investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.