Nasdaq Aligns with Invesco PowerShares to Expand Smart Beta Buyback Line-Up
NEW YORK, Nov. 10 (Korea Bizwire) — Nasdaq today announced that the Nasdaq Global Buyback Achievers(TM) Index is serving as the basis for Invesco PowerShares’ most recent ETF launch – the PowerShares Global Buyback Achievers UCITS ETF (symbol: BUYB). This marks the first product, which is based on the successful Nasdaq Buyback Achiever Index family to launch in the UK and Europe.
“Smart Beta indices, and products linked to them, have provided more opportunities for investors to manage risk and diversify their portfolios,” said Rob Hughes, head of Index Services at Nasdaq. “The Buyback concept has proven successful in identifying companies that have – through the use of share buybacks – delivered increased shareholder value and outperformance over the broader market.”
The launch is the latest example of continued innovation around the Nasdaq Buyback Achievers family. In May, Invesco PowerShares launched the international version of this Index as an ETF in the US, the PowerShares Nasdaq International Buyback Achievers Index ETF (symbol: IPKW).
Bryon Lake, Head of Invesco PowerShares – EMEA, added, “This new product offers an innovative yet simple factor-based way to invest in global equities. Through the underlying index, the PowerShares Global Buyback Achievers UCITS ETF provides access to a “smart beta” approach to investing in companies that return value by buying back shares. Buybacks can be more tax-efficient than dividends, and this new ETF offers a low-cost, transparent and liquid vehicle through which to access this strategy.”
The Nasdaq Global Buyback Achievers Index is comprised of securities from the Nasdaq US Buyback Achievers Index and the Nasdaq International BuyBack Achievers Index. The Nasdaq US Buyback Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing twelve months and the Nasdaq International BuyBack Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of 5% or more in its latest fiscal year. The Index began on August 11, 2014 at a base value of 1,000.00.
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About Nasdaq Global Buyback Achievers(TM) Index:
Nasdaq(R) and Nasdaq Global Buyback Achievers(TM) Index are trademarks of The NASDAQ OMX Group, Inc. and have been licensed for use for certain purposes by Invesco PowerShares, pursuant to a License Agreement with Nasdaq.
The Nasdaq Global Buyback Achievers Index is determined, composed, and calculated by Nasdaq without regard to the PowerShares Global Buyback Achievers UCITS ETF or its shareholders. Nasdaq has complete control and sole discretion in determining, comprising or calculating the Nasdaq Global Buyback Achievers Index or in modifying in any way its method for determining, comprising or calculating the Nasdaq Global Buyback Achievers Index in the future.
Neither Nasdaq nor its affiliates: (a) guarantee the accuracy and/or the completeness of the Nasdaq Global Buyback Achievers Index or any data used to calculate the Nasdaq Global Buyback Achievers Index or determine the Nasdaq Global Buyback Achievers Index components; (b) guarantee the uninterrupted or undelayed calculation or dissemination of the Nasdaq Global Buyback Achievers Index; (c) shall have any liability for any errors, omissions, or interruptions therein; (d) guarantee that the Nasdaq Global Buyback Achievers Index accurately reflects past, present, or future market performance; (e) make any warranty, express or implied, as to results to be obtained by PowerShares Global Buyback Achievers UCITS ETF, its shareholders, or any other person or entity from the use of the Nasdaq Global Buyback Achievers Index or any data included therein. Neither Nasdaq nor its affiliates make any express or implied warranties and expressly disclaim all warranties, of merchantability or
fitness for a particular purpose or use, with respect to the Nasdaq Global Buyback Achievers Index or any data included therein; and make any representation or warranty, express or implied, and bear any liability with respect to shares in the PowerShares Global Buyback Achievers UCITS ETF. Without limiting any of the foregoing, in no event shall Nasdaq or its affiliates have any liability for any lost profits or indirect, punitive, special, or consequential damages (including lost profits), even if notified of the possibility of such damages.
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Source: NASDAQ OMX via GLOBE NEWSWIRE