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Products January 30, 2008
PowerShares to List India Portfolio ETF
PowerShares Capital Management LLC has announced the anticipated listing of the PowerShares India Portfolio, a new exchange-traded fund (ETF) expected to begin trading in mid- to late-February on the NYSE Arca.
Reported by Rebecca Moore
The PowerShares India Portfolio will provide direct and diversified exposure to India’s growing marketplace by owning local equities, the company said. PowerShares India Portfolio is designed to trade at or near net asset value, removing the trading risks associated with other exchange listed India products that utilize derivatives and local share-linked structures.
The PowerShares India Portfolio is based on the Indus India Index compiled by Indus Advisors LLC. The Index is designed to track the performance of the Indian equity markets as a whole with representation across the information technology, health sciences, financial services, heavy industry, and consumer products segments.
The index is rebalanced quarterly, and selects 50 components from a universe of Indian domiciled companies listed on the National and Bombay Stock Exchanges.
The anticipated ticker symbol for the PowerShares India Portfolio is PIN.
More information is at www.powershares.com.