PowerShares Capital Management, a US fund management firm specializing in the development and management of Exchange Traded Funds (ETFs), says it has more than $1 billion under management.
“We are excited to reach the $1 billion in capital under management threshold,” says Bruce Bond, CEO of PowerShares Capital Management. “We attracted our first $500 million in assets over a 17 month period since PowerShares launched its first two ETFs in May of 2003. The next $500 million took only five months to achieve. This trend supports our belief that investors would embrace `Intelligent ETFs’ designed to out-perform their benchmarks. What distinguishes PowerShares from its larger competitors is its strategy of providing products based on value-added indexes, including the Intellidex indexes developed by the American Stock Exchange. PowerShares “Intelligent ETFs” replicate dynamic indexes which use rules-based quantitative analysis to adjust the index components typically on a quarterly basis. The methodology is a sophisticated way to analyze large groups of stocks in order to select specific stocks that have the greatest potential for capital appreciation. Our “Intelligent ETFs” allow investors an opportunity to benefit from this stock selection at the index level while capitalizing on the low cost and tax efficiency of the ETF structure.”
PowerShares currently offers 19 ETF funds and plans to launch an additional 20 ETFs over the next 12 months.