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Invesco PowerShares MENA Frontier Countries ETF Lists on NASDAQ
Market Wire, July, 2008
Invesco PowerShares, a leading provider of exchange-traded funds (ETFs), announced that its frontier countries portfolio, designed to provide access to certain equity markets in the Middle East and North Africa, begins trading today on the NASDAQ Stock Market®.
The ticker symbol and ETF portfolio name follows:
-- PMNA - PowerShares MENA Frontier Counties Portfolio
"The PowerShares MENA Frontier Countries Portfolio replicates an index that takes into account certain foreign ownership limitations encountered when investing in certain countries in the Middle East and North Africa," said Bruce Bond, president and CEO of Invesco PowerShares. "We believe PMNA represents a compelling new vehicle for investors to access frontier equity markets of the MENA region."
The PowerShares MENA Frontier Countries Portfolio (PMNA) is based on the NASDAQ OMX Middle East North Africa Index(SM). This Index is designed to measure the performance of the largest and most liquid securities of companies domiciled in Middle Eastern and North African countries included in the Index that have smaller economies or less developed capital markets than traditional emerging markets. The Index currently includes securities domiciled in: Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain, Qatar and United Arab Emirates (Index currently includes the emirates of Dubai and Abu Dhabi).
Many of these frontier countries impose restrictions on foreign investments, including foreign ownership limitations. These restrictions may vary from issuer to issuer. At each quarterly rebalance and reconstitution, NASDAQ OMX Group, Inc., the index provider, takes into account the current foreign ownership limitations and locked-in stock. In addition, when a security in the Index reaches its limitations on foreign ownership, it will be removed from the Underlying Index.
An investment in securities of frontier market countries involves risks not associated with investments in securities of developed countries.
Invesco PowerShares is leading the intelligent ETF revolution through its family of more than 100 domestic and international index-based and actively managed exchange-traded funds. With assets under management as of April 30, 2008 of $13.86 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.
Small- and Medium-Sized Company Risk Information
An investment in securities of small and medium-sized companies involves greater risk than is customarily associated with investing in more established, larger sized companies.
Foreign Risk Information
An investment in the securities of non-U.S. issuers involves risks beyond those associated with investments in U.S. securities, including, but not limited to: greater market volatility, the availability of less reliable financial information, higher transactional and custody costs, taxation by foreign governments, decreased market liquidity, political instability, negative impact of changes in currency exchange rates or foreign governmental regulation, currency risk, fluctuation due to changes in interest rates, effects of monetary policies issued by the United States, foreign governments, central banks or supranational entities and currency controls or other national or global political economic developments, among others.
Frontier Market Risk Information
An investment in securities of frontier countries involves risks not associated with investments in securities of developed countries, including, but not limited to: generally smaller economies or less developed capital markets than traditional emerging markets, economies that are less correlated to global economic cycles than those of their more developed counterparts, low trading volumes, potential for extreme price volatility and illiquidity, which may be further heightened by the actions of a few major investors, governments of many frontier countries in which the Fund invests may exercise substantial influence over many aspects of the private sector (in some cases, the governments of such frontier countries may own or control certain companies), government action, heavy dependency upon international trade which has been and may continue to be, adversely affected by trade barriers, exchange controls, managed adjustments in relative currency values and other protectionist measures imposed or negotiated by the countries with which they trade, and risks associated with certain foreign governments in countries in which the Fund invests levying withholding or other taxes on dividend and interest income, sanctions or embargoes imposed by the U.S. government and the United Nations and/or countries identified by the U.S. government as state sponsors of terrorism and foreign investment holdings limitations, among others.