Invesco PowerShares expands smart beta suite with International BuyBack Achievers ETF
Invesco PowerShares Capital Management is to launch the PowerShares International BuyBack Achievers Portfolio (IPKW) on 27 February on the Nasdaq Stock Market.
IPKW will provide investors efficient access to a portfolio of international companies classified as International BuyBack Achievers.
BuyBack Achievers are companies that have effected a net reduction of five per cent or more of their outstanding shares in the past 12 months, and have met additional criteria in accordance with the guidelines and mandated procedures of the Nasdaq OMX Group, the underlying index provider.
"Our US-focused flagship fund, the PowerShares BuyBack Achievers Portfolio (PKW), has achieved a competitive long-term track record demonstrating the investment merit of the BuyBack Achievers methodology, and more broadly of smart beta," says Lorraine Wang, Invesco PowerShares global head of ETF products and research. "The PowerShares International BuyBack Achievers Portfolio (IPKW) expands the range of tools investors can use to efficiently allocate the BuyBack Achievers strategy across the globe."
The fund has an expense ratio of 0.55 per cent.
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