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Invesco PowerShares Recognized With ETF Industry Awards
CHICAGO, IL--(Marketwire - May 6, 2008) - Invesco PowerShares, a leading provider of
exchange-traded funds (ETFs), received awards for most innovative new ETF,
and contribution to the ETF sector, at the 7th Annual Forum on Closed-End
Funds & Global ETFs. The event was held April 16 in New York City.
The PowerShares S&P 500 BuyWrite Portfolio (NYSE : PBP ), was recognized with
The Award for Most Innovative New ETF in 2007. The PBP portfolio is based
on the CBOE S&P 500 BuyWrite Index which measures the total rate of return
of an S&P 500® covered call strategy. This strategy consists of holding a
portfolio indexed to the S&P 500® and selling a succession of written
options, each with an exercise price at or above the prevailing price level
of the S&P 500®.
The Award for Contribution to the ETF Sector In 2007 was presented to
Edward McRedmond, senior vice president of portfolio strategies at Invesco
PowerShares.
"On behalf of Invesco PowerShares, I am honored to receive this award. We
have been fortunate to interact with so many talented people in the ETF
business, many of whom are equally deserving of this recognition," said
McRedmond. "I'd like to thank my industry colleagues for their efforts to
educate investors about the benefits of ETFs."
"We are honored to receive recognition from our peers for the passionate
work we are doing here at Invesco PowerShares," said Bruce Bond, president
and CEO of Invesco PowerShares. "We believe our innovative and diverse
suite of ETFs is at the forefront of the ETF industry delivering value and
market-leading ideas to investors."
The Annual Closed End Fund & ETF Awards, an initiative of Capital Link,
seek to identify and recognize annually those fund sponsors and executives
who consistently apply high standards of financial disclosure, as well as
investor and shareholder relations. The Closed End Fund (CEF) & ETF Awards
are based on nominations by a committee of analysts and industry
specialists who actively follow CEFs and ETFs.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global
investment management company.
Invesco PowerShares is leading the intelligent ETF revolution through its
family of more than 100 domestic, international and active exchange-traded
funds. With assets under management of $12.75 billion, PowerShares ETFs
trade on all of the major U.S. stock exchanges that trade ETFs. For more
information, please visit us at www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global
investment management company dedicated to helping people worldwide build
their financial security. By delivering the combined power of its
distinctive worldwide investment management capabilities, including AIM,
Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross,
Invesco provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the New York
Stock Exchange under the symbol IVZ. Additional information is available at
www.invesco.com.
There are risks involved with investing in ETFs including possible loss of
money. Shares are not actively managed and are subject to risk similar to
stocks and covered call options, as well as those risks related to short
selling and margin maintenance.
Shares are not FDIC insured, may lose value and have no bank guarantee.
There are additional risks involved in writing (selling) covered call
options on the stocks of the S&P 500 Index (Index). The Fund, by writing
covered call options on this Index, will give up the opportunity to benefit
from potential increases in the value of the index stocks above the
exercise prices of the options, but will continue to bear the risk of
declines in the value of the Index. The premiums received from the options
may not be sufficient to offset any losses sustained from the volatility of
the Index over time. In addition, exchanges may suspend trading of options
in volatile markets. If trading is suspended, the Fund may be unable to
write (sell) options at times that may be desirable or advantageous for the
Fund to do so. Trading suspensions may limit the Fund's ability to achieve
its investment objectives. The Fund may be required to sell investments
from its portfolio to make cash settlement on (or transfer ownership of an
Index stock to physically settle) any options that are exercised. Such
sales (or transfers) may occur at inopportune times, and the Fund may incur
transaction costs that increase its expenses.
The Chicago Board Options Exchange is the index provider for the
PowerShares S&P 500 BuyWrite Portfolio. CBOE is not affiliated with the
Trust, the Adviser or the Distributor. The Adviser has entered into a
license agreement with the Index Provider to use the Underlying Index. The
PowerShares S&P 500 BuyWrite Portfolio is entitled to use its respective
Underlying Index pursuant to a sublicensing arrangement with the Adviser.
"S&P," "S&P 500" and "S&P 500™ Index," are registered trademarks of
Standard & Poor's Ratings Group, a division of The McGraw-Hill Companies,
Inc. (S&P). S&P has granted Invesco PowerShares Capital Management LLC
("Licensee") a license to use the CBOE S&P 500 BuyWrite Index for purposes
of Licensee's PowerShares S&P 500 BuyWrite Portfolio.
The CBOE S&P 500 BuyWrite Index™ is a trademark of CBOE and has been
licensed for use for certain purposes by the Adviser.
Shares are not individually redeemable and owners of the shares may acquire
those shares from the Funds and tender those shares for redemption to the
Funds in Creation Unit aggregations only, typically consisting of 100,000
shares.
Invesco Aim Distributors, Inc. is the distributor of the PowerShares
Exchange-Traded Fund Trust I, the PowerShares Exchange-Traded Fund Trust
II, the PowerShares Actively Managed Exchange-Traded Fund Trust and the
PowerShares India Exchange-Traded Fund Trust.
Invesco PowerShares Capital Management LLC., Invesco Aim Distributors, Inc.
and Invesco Institutional (N.A.), Inc. are indirect, wholly owned
subsidiaries of Invesco Ltd.
An investor should consider each Fund's investment objective, risks,
charges and expenses carefully before investing. The prospectus contains
this and other information about the Funds. For more complete information
about the Funds or to obtain a prospectus, call 800.983.0903. Please read
the prospectus carefully before investing.