Nasdaq Global Funds, a subsidiary of the Nasdaq Stock Market, announced yesterday it is transferring sponsorship of its exchange-traded funds to PowerShares Capital Management.
The funds are: the Nasdaq 100 Index Tracking Stock, the Nasdaq 100 European Tracker and the four BLDRS Index Funds.
Nasdaq said it was transferring sponsorship to the second-largest issuer of ETFs in the country to expand the distribution channels for the funds. “PowerShares has a strong track record of providing compelling portfolios and investment tools for advisers and investors,” said Nasdaq Global Funds CEO John Jacobs.
