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Products September 17, 2008
Latest PowerShares ETFs in Commodities Space
September 17, 2008 (PLANSPONSOR.com) - Invesco
PowerShares Capital Management has unveiled four new equity
ETFs designed to provide access to companies involved in the
agriculture, coal, gold and precious metals, and steel
sectors.
Reported by
Fred Schneyer
An Invesco PowerShares news release said the new offerings that will begin trading Thursday on the Nasdaq Stock Market include:
- The PowerShares Global Agriculture Portfolio, based on the NASDAQ OMX Global Agriculture Index that is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in agriculture and farming-related activities;
- The PowerShares Global Coal Portfolio, based on the NASDAQ OMX Global Coal Index, which is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the exploration for and mining of coal, and other related activities in the coal industry;
- The PowerShares Global Gold and Precious Metals Portfolio, based on the NASDAQ OMX Global Gold and Precious Metals Index, which is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in mining-related activities for gold and other precious metals;
- The PowerShares Global Steel Portfolio, based on the NASDAQ OMX Global Steel Index, which is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the manufacturing and storage of iron and steel products.
“While commodity markets have seen a significant rise in price volatility recently, many economists believe worldwide demand for basic materials will continue to grow in the future ,” said Bruce Bond, president and CEO of Invesco PowerShares Capital Management LLC, in the news release. “The PowerShares global commodity producer ETF portfolios may provide investors transparent, tax-efficient access to companies focused on key commodity markets.”