Products June 23, 2011

Invesco to Close Two ETFs

June 23, 2011 (PLANSPONSOR.com) - Invesco PowerShares announced that it plans to close two of its Active ETF portfolios.
Reported by

The final day of trading on the NYSE Arca for the PowerShares Active Alpha Multi-Cap Fund (PQZ) and the PowerShares Active AlphaQ Fund (PQY) will be September 30, 2011.  

Shareholders may sell their holdings on or before September 30, 2011, and may incur typical transaction fees from their broker-dealer. Shareholders who do not sell their holdings on or before September 30, 2011, will receive cash equal to the amount of the net asset value of their shares, which will include any capital gains and dividends, in the cash portion of their brokerage accounts on the distribution date (currently scheduled for October 6, 2011), according to the announcement.   

Shareholders will generally recognize a capital gain or loss equal to the amount received for their shares over their adjusted basis in such shares.  

For additional information, shareholders of the ETFs which are scheduled for liquidation may call Invesco PowerShares at 800-983-0903.

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