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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.
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