PowerShares Capital Management LLC, a provider of exchange-traded funds, will expand its family of fixed-income ETFs on Thursday, when it lists a 1-30 year laddered treasury portfolio, as well as insured New York and California municipal bond portfolios, on the American Stock Exchange.
The anticipated ticker symbols and ETF names are:
PLW: PowerShares 1-30 Laddered Treasury Portfolio
PWZ: PowerShares Insured California Municipal Bond Portfolio
PZT: PowerShares Insured New York Municipal Bond Portfolio
The previously announced PowerShares fixed-income ETFs also listing on Thursday include:
PZA: PowerShares Insured National Municipal Bond Portfolio
PCY: PowerShares Emerging Markets Sovereign Debt Portfolio
“I am pleased to announce these new portfolios, which provide investors new ways to access fixed-income securities, coupled with the benefits inherent to the ETF structure,” says Bruce Bond, president and CEO of PowerShares. “The PowerShares 1-30 Laddered Treasury Portfolio will
allow investors to implement a sophisticated bond-laddering strategy in the convenient form of a single ETF trade, and our New York and California insured portfolios will enable investors to leverage two of the most active municipal bond markets in the nation.”
Fixed income is an area of ongoing attention for PowerShares, Bond says, and the firm plans to expand its capabilities here in Q4 and into 2008.