Invesco PowerShares has contracted for exclusive rights to four Keefe Bruyette & Woods indexes to offer specialized exchange-traded funds in real estate, financial services and property and casualty insurance.
The four new funds and their respective underlying indexes are: PowerShares KBW Premium Yielf Equity REIT Portfolio, PowerShares KBW High Dividend Yield Financial Portfolio, PowerShares KBW Global ex-U.S. Financial Sector Portfolio and PowerShares KBW Property & Casualty Insurance Portfolio, based on the KBW Premium Yield Equity REIT Index, KBW Financial Sector Dividend Yield Index, KBW Global ex-U.S. Financial Sector Index and KBW Property & Casualty Index.
Ben Fulton, managing director of global ETFs at Invesco PowerShares, said: "We are very excited to partner with KBW, a recognized leader in financial services company research, to provide investors unique ways to accss the financial services sector. We look forward to a long and sucessful global partnership."
John Howard, co-head of research at KBW, added: "There are many uncorrelated business risks within the financial services sector, and these products allow market participants to better make and hedge investments directly into sub-sectors."