Nasdaq announced that Invesco PowerShares will list a new exchange-traded fund, PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio, on The Nasdaq Stock Market. (image: Korea Bizwire)
New Broad-Based Commodity Strategy Expands Smart Beta Suite
NEW YORK, Nov. 7 (Korea Bizwire) – Nasdaq today announced that Invesco PowerShares will list a new exchange-traded fund, PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio (Symbol:PDBC), on The Nasdaq Stock Market. PDBC will begin trading today, November 7th, 2014.
“Invesco PowerShares has enjoyed a long and successful relationship with Nasdaq,” said Dan Draper, Head of Invesco PowerShares. “We’re pleased to once again work with Nasdaq for today’s listing of our newest smart beta ETF.”
PDBC expands Invesco PowerShares’ suite of smart beta exchange-traded funds to 82 portfolios. As the fourth largest provider of ETFs in the US and globally, Invesco PowerShares is recognized as a pioneer behind the smart beta revolution, having introduced many of the first smart beta strategies, and currently offers 60 smart beta ETFs with track records greater than 5-years.
“PDBC provides broad and efficient exposure to commodities with the added benefit of eliminating Scheduled K-1 requirements,” said Lorraine Wang, Invesco PowerShares Head of Global ETF Products & Research. “Institutional investors allocate commodities into portfolios as an inflation hedge, and for the benefit of low correlation to stocks and bonds.”
PDBC seeks to outperform its benchmark through actively managed investments in commodity-linked futures contracts. PDBC provides exposure to components of the DBIQ Optimum Yield Diversified Commodity Index Excess Return (Benchmark) which is composed of futures contracts on 14 heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors.
“We are delighted to welcome PowerShares’ new exchange-traded fund to their product suite listed on The Nasdaq Stock Market,” said Walt Smith, Vice President, Head of U.S. Equities at Nasdaq. “We value our partnership with Invesco PowerShares and will continue to offer our end-to-end support as they expand their innovative product offering.”
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world’s most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
About Invesco PowerShares:
Invesco PowerShares Capital Management LLC is leading the Intelligent ETF Revolution(R) through its family of more than 140 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets of nearly $100 billion(1) as of September 30, 2014, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.
(1)US franchise assets include QQQs, BLDRS and DB Funds. ALPS Distributors, Inc. is the distributor of PowerShares QQQ, BLRDS and DB Funds. PowerShares QQQ and BLDRS Funds are unit investment trusts. Invesco PowerShares and Invesco Distributors, Inc. are not affiliated with ALPS Distributors, Inc.
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
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CONTACT: Invesco PowerShares Media Contact:
Bill Conboy
+1 (303) 415-2290
bill@bccapitalpartners.com
Nasdaq Media Contact:
Alexa Sugrue
+1 (212) 231-5552 (office)
+1 (646) 577-3157 (mobile)
Alexa.Sugrue@nasdaq.com
Source: NASDAQ OMX Group via GLOBE NEWSWIRE
