Invesco PowerShares Capital Management has launched the PowerShares Global Short Term High Yield Bond Portfolio (PGHY) on the NYSE Arca. The fund has exposure to short-term U.S. dollar-denominated, high-yield debt that is issued globally; including sovereign, quasi-government and corporate bond securities.

PGHY has an expense ratio of 35 basis points and is benchmarked to the DB Global Short Maturity High Yield Bond Index.

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