CHICAGO, IL -- (Marketwired) -- 06/20/13 -- Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), announced today the launch of the PowerShares Global Short Term High Yield Bond Portfolio (PGHY) on the NYSE Arca.
PGHY provides investors access to short-term US dollar-denominated, high-yield debt that is issued globally; including sovereign, quasi-government and corporate bond securities. PGHY has an expense ratio of 0.35% and is expected to issue monthly distributions.
•PowerShares Global Short Term High Yield Bond Portfolio (PGHY)
"We are excited to launch a timely product solution for income investors looking for a potential protection against rising interest rates," said Lorraine Wang, Invesco PowerShares senior vice president of new product development. "The PowerShares global Short Term High Yield Bond Portfolio (PGHY) provides a convenient way for investors to gain exposure to a portfolio of high-yield bonds from issuers around the globe, while taking on a relatively low level of interest rate risk."
"Bonds with shorter maturities generally carry less duration risk than bonds with longer maturities and can help investors protect fixed-income portfolios against rising interest rates," added Joseph Becker, senior fixed-income product strategist at Invesco PowerShares. "While high-yield bonds generally carry higher credit risk, they also offer investors higher rates of income. We believe today's exceptionally low interest rates, particularly at the short end of the yield curve, position short-term, high-yield bonds as an attractive investment for income seeking investors."
The PowerShares Global Short Term High Yield Bond Portfolio (PGHY) is based on the DB Global Short Maturity High Yield Bond Index (Index). PGHY generally will invest at least 80% of its total assets in bonds included in the Index. The Index tracks the performance of US dollar-denominated, short-term, non-investment grade bonds with three years or less to maturity; that are issued by US and foreign corporations, as well as by supranational, sovereign or sub-sovereign government entities. PGHY and the Index are rebalanced quarterly and re-weighted annually.
Invesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution® 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 over $77 billion as of March 31, 2013, PowerShares ETFs trade on both US stock exchanges. For more information, please visit us at invescopowershares.com or follow us on Twitter @PowerShares.
Invesco, Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
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